FACTBOX: Key facts about General Motors and Chrysler

Sat Oct 11, 2008 4:56pm EDT
 
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(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 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 this week, and Chrysler -- now about 80 percent-owned by private equity firm Cerberus Capital Management -- would create a company with too many factories, dealers, 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 increase 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. It updates 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 the company in August 2007 from Daimler AG. The German automaker still owns 19.9 percent of Chrysler.  Continued...

 

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