Chrysler Group Sold to Cerberus Capital Management for $7.4 billion

After months of speculation, the widely-expected decision by DaimlerChrysler to sell off the Chrysler Group has come to fruition, with the company announcing that it has sold the company to Cerberus Capital Management for $7.4 billion.

According to a news release from the Chrysler Group, Cerberus will have an 80.1 percent interest in a new company dubbed Chrysler Holding LLC, while DaimlerChrysler AG will retain 19.9 percent ownership in the company. There are more details behind the transaction, but I won't list them here. The bottom line is that the merger between the Chrysler Group and Daimler is no more, and Chrysler is once again on its own.

So what does this development have on the future of new Chrysler Group vehicles, ranging from the new Dodge Challenger to the 2008 Dodge Grand Caravan and 2008 Chrysler Town & Country minivans?

I'd wager that while Cerberus will likely make significant changes to Chrysler's operations, those impressive new product releases are likely a big part of the reason why Cerberus decided to purchase the company in the first place.

What do you think? Is the sale of the Chrysler Group good or bad news for minivan buyers? Click on the comments link below this post and let us know what you think.
^{photo: © Jeff James}