Founded by Walter P. Chrysler, a mechanic in the year 1925, the company was set up after purchasing Maxwell Motor Corporation in Detroit. The company shot to fame for its advanced mechanics in vehicle engineering. Three years in its existence, Chrysler Corporation was able to buy Dodge in its expansion process and also created Chrysler DeSoto and Plymouth divisions. No one in the industry thought about introducing vehicles with high compression engine, oil filter, air filter and full pressure lubrication, Chrysler incorporated in their vehicles and the company was in the second leading player in terms of sales in the automobile industry of USA. From 1936 to 1949 Chrysler retained its name and its position. During this period, the company was targeted low-price customers through its Plymouth brand and middle-level customers through its DeSoto models. During late 1950s and early 1960s Chrysler had two popular marques namely the Imperial and Valiant. By the year 1961 the DeSoto marque was discontinued and the company retained its Valiant, Plymouth, Dodge, DeSoto, Chrysler, and Imperial models. After tasting success, the company got into trouble during 70s as of its co-players in the form of new government rules and oil deficit. Also with the change in the customer needs, Chrysler was forced to bring a new change. In 80s, the K-car was well received by the customers and the company was able to regain its sales with the introduction of minivan model. After acquiring AMC in the year 1987, Deep was added to the list of brands from Chrysler. Another important merger happened in 1998 with German-based Daimler-Benz to form Daimler Chrysler. Due to unanticipated changes and increase in gas price lead to a situation where Daimler sold Chrysler to an American equity firm in the year 2007. Even after passing through different hands, Chrysler has its market for its popular Dodge, Jeep, and Chrysler marques worldwide.
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