Nissan Motor Co., and Chrysler LLC have postponed their plans of sharing a small car that is constructed at North America and a full-sized pick-up until they can finally cut down costs.
In their statement, Chrysler will sell a model of Nissan’s compressed Versa sedan as a part of their third vehicle-sharing venture and will continue as planned.
The postponement of the companies’s plans was made because of the declining economic situation, and that includes the dollar-yen exchange ratings. And due to this, Nissan and Chrysler are still working on the other two projects and is making sure that the financial needs for both car companies will be met before the two projects step up into the next level. This information is released by Nissan North America Inc.
The arrangements between Nissan and Chrysler was made last year in response to Chrysler’s seeking out for a global partner in terms of technology after their unsuccessful partnership with Daimler AG of Germany. Meanwhile, Nissan is also needing at that time a support for their full-sized pickup models.
But with today’s worsening economic situation, both automotive giants are facing the worst of all situations. Chrysler is facing a tight deadline to submit their viability plan to the US Treasury in order to attain the $4 billion loans and Nissan is about to post a $2.9 billion loss and is about to cut 20,000 Nissan jobs globally.
Presently, both teams are now working hard to improve their financial status in order to launch the vehicle sharing project.
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