Daimler hoping to sell off Chrysler division

| Friday, April 06, 2007

There’s been a lot of speculation that Chrysler may be sold, but now DaimlerChrysler officials are confirming that the German parent company would like to unload its money-losing American investment.

Bloomberg reports that several companies – including auto parts supplier Magna International – have made bids for Chrysler. The Wall Street Journal reports that U.S. billionaire Kirk Kerkorian and his company, Tracinda, is ready to make an offer, as well.

DaimlerChrysler – which makes Freightliner, Sterling and Western Star trucks – lost $1.5 billion in its Chrysler division last year, according to Bloomberg.

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