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Questions raised over Chrysler
01.05.09
Fresh doubts were today cast over the future of Chrysler despite Presidential hopes that it can recover from bankruptcy.
The US car giant filed for Chapter 11 bankruptcy protection yesterday and agreed to a tie-up with Fiat. The White House described the move as a "surgical short bankruptcy" which should last between 30 and 60 days.
But experts said there was little chance of Chrysler's long-term survival. Automotive historian Bob Elton said: "Chrysler has flirted with bankruptcy on and off since 1954. It's been a wild ride between very prosperous periods and serious disasters. They have finally qualified as a real failure."
