Chrysler ready to rise again

Chrysler led GM down the chapter 11 road to re-structuring after it could not meet earlier deadlines for extended US government funding.

It is about to form a global alliance with Fiat which will result in a new company, called Chrysler Group LLC, after gaining approval from a bankruptcy court in New York.

"We are very pleased with today's announcement and the opportunities that it brings to our company. At this stage, It is too early to comment or speculate about how the integration with Fiat might apply in our Australia or New Zealand regarding all aspects of the operation including dealer body and distribution," says Gerry Jenkins, managing director of Chrysler Australia.