FACTBOX: Key facts about General Motors and Chrysler
(Reuters) - General Motors Corp and Chrysler LLC have been in preliminary talks about a potential merger, according to a source briefed on the matter.
A merger would unite GM, the No. 1 U.S.-based automaker, with No. 3 Chrysler. Both are struggling amid a 15-year low in U.S. auto industry sales and market share losses that have left them with far too much production capacity in North America.
A combination of GM, whose shares fell to a nearly 60-year low last week, and Chrysler -- now about 80 percent-owned by private equity firm Cerberus Capital Management -- would create a company with too many factories, dealers and vehicle models and very similar product lines, according to analysts.
As a result, such a merger would lead to massive job losses, plant closings and elimination of brands and vehicle lines, analysts said.
GM and Chrysler both have extensive pickup truck and SUV lineups in North America and are in the midst of multiyear restructuring, which includes cost cuts and asset sales to raise cash.
Following are some key facts about GM and Chrysler.
General Motors Corp
* Headquarters: Detroit
* Financials: GM has posted losses of $18.7 billion through the first half of 2008 and announced plans to raise liquidity by $15 billion through 2009 by $10 billion of cost cuts and about $5 billion of asset sales and borrowing. GM ended the second quarter with $21 billion of cash and $5 billion of undrawn credit.
* Employees: About 266,000 worldwide at the end of 2007, including 139,000 in North America.
* Facilities: Over 160 factories worldwide.
* Brands: Chevrolet, Pontiac, Saturn, Buick, Cadillac, Hummer, Saab, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling.
* 2008 sales YTD: U.S. sales were down 17.6 percent through September. Through June, global sales were down 2.9 percent at 4.54 million vehicles. GM will update global figures later in October.
Chrysler LLC
* Headquarters: Auburn Hills, Michigan
* Structure: Run by private equity group Cerberus Capital Management, which acquired an 80.1 percent stake in August 2007 from Daimler AG. The German automaker still owns 19.9 percent of Chrysler.
* Financials: Chrysler earned $1.1 billion before interest, taxes, depreciation and amortization through the first half of the year and had $11.7 billion in cash at the end of June. As a private entity, Chrysler is not required to disclose detailed financial information.
* Employees: 66,409 as of June 2008.
* Plants: 14 assembly plants, 10 powertrain plants, four stamping operations and five manufacturing affiliations outside of North America.
* Brands: Chrysler, Jeep and Dodge.
* 2008 Sales YTD: U.S. sales down 25 percent at 1.18 million vehicles; Worldwide sales in 2007 were 2.7 million units.
* International sales: Relies on North America for more than 90 percent of its new vehicle sales.
(Reporting by David Bailey and Poornima Gupta; Editing by Peter Cooney)
