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The company was formed in 1998, when German automaker, Daimler-Benz, merged with the American automaker, Chrysler Corporation. The company now manufacturers the brands: Mercedes-Benz, Chrylser, Dodge, and Jeep. After WWII, other companies were introducing new cars with added features. Chrysler, however; introduced only a couple of new models. Chrysler closed several plants in the early 1980s and cut thousands of jobs. The company introduced the Dodge Caravan and Plymouth Voyager in 1984. The company earned record profits of almost two and a half billion dollars that year. Daimler Chrysler lost $795 million during an economic setback and another $450 million after a month-long strike. In May of 2007, Daimler Chrysler sold its Chrysler division and as a result an estimated 13,000 people were expected to lose their jobs. After the $7.4 billion dollar sale of Chrysler, the company changed its name to Daimler AG |
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