However, tragedy struck in 1920 when both John and Horace Dodge passed away due to complications from influenza. Despite their untimely deaths, the Dodge brothers’ legacy lived on through their company, which continued to thrive under the leadership of their widows. In 1925, the brothers’ widows sold the Dodge Brothers Motor Company to the investment group Dillon, Read & Co. for $146 million, one of the most significant transactions in the automotive industry. Just three years later, in 1928, Dodge was sold again to the newly formed Chrysler Corporation in a $170 million stock transfer.
Under Chrysler’s ownership, the Dodge brand continued to evolve, maintaining canadian biotechnology email list its reputation for producing reliable, powerful vehicles. Chrysler The acquisition of Dodge by Chrysler Corporation in 1928 marked a significant turning point in the history of both companies. Dodge, already a well-established and respected brand known for its durable and powerful vehicles, brought substantial value to Chrysler, significantly boosting its sales and revenue. In 1998, Chrysler Corporation entered a new phase in its history by merging with the German automaker Daimler-Benz AG, forming DaimlerChrysler. This merger was initially hailed as a strategic alliance that would create a global automotive powerhouse, combining the strengths of Chrysler’s American brands, including Dodge, with Daimler-Benz’s luxury brand, Mercedes-Benz.
The merger aimed to leverage design, manufacturing, and global market presence synergies. However, the merger could have gone better. By 2007, Daimler-Benz had grown increasingly frustrated with the performance of its American division and decided to sell its Chrysler subsidiary. The sale included the Dodge brand, which remained a crucial part of Chrysler’s portfolio. Cerberus aimed to restructure and revitalize Chrysler, but the timing could not have been worse. The global financial crisis of 2008 and 2009 hit the automotive industry hard, and Chrysler was not immune.
However tragedy struck in 1920
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