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Chrysler Denies Rumors of Jeep Brand Sale

January 15, 2009

Chrysler Vice Chairman and President Tom LaSorda on Jan.14 strongly denied reports and rumors that the company is in discussions to sell its Jeep brand, any manufacturing plants or the tooling for an existing vehicle.

"What was reported that we're in discussions to sell the Jeep brand is absolutely false," Lasorda told reporters on a conference call. "We will not separate the brands from the company."

He said that the company has said for more than a year that it will sell non-earning assets, or assets that "may be coming due." Chrysler has had discussions about selling the tooling of previous generation vehicles, or vehicles that are discontinued. But reports that the company would sell one of its manufacturing plants are untrue, and don't make any sense.

"If we were to sell any assets, and if you looked at the loan agreement, the loan agreement would not allow us to do that without going through the 'car czar,'" he added.

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