Economics & Industry

Chrysler Seeks $1.5 Billion Bailout

In September 1979, Chrysler Corporation requested $1.5 billion from the U.S. government to avoid bankruptcy, primarily due to a slump in the domestic automobile market and rising competition from foreign automakers. At the time, Chrysler was experiencing significant financial difficulties, including low sales and high costs, which were exacerbated by an economic recession. The request aimed to secure funding for restructuring, thereby preserving jobs and stabilizing the industry.

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