History of Chrysler stake in the firm. Financial performance improved and Chrysler was generating a significant part of Daimler-Chrysler's profits from 2004 to 2005, as the other subsidiary, Mercedes-Benz, incurred costs for restructuring. By 2005, Chrysler was said to be the healthiest of the Detroit Three automakers (compared to General Motors and Ford Motor Company). As a result of Zetsche's apparent success in a turnaround of Chrysler, Juergen Schrempp, the CEO of parent company Daimler-Chrysler, was pressured to retire early. Zetsche was elevated to CEO of Daimler-Chrysler on January 1, 2006, and Thomas W. LaSorda became President and CEO of Chrysler Group. However,
General Motors Precept General Motors Precept The General Motors Precept was a 2000 low emission vehicle concept car aimed at meeting the fuel economy goal of the Partnership for a New Generation of Vehicles between the US Government and GM, Ford, and Chrysler. GM was able to meet the fuel economy goal with the Precept, creating versions using Lithium and NiMH batteries with diesel, fuel cell and other hybrid version of the car. GM ended the project in 2000, claiming no one would be interested in buying a high fuel economy vehicle. The near-term PNGV program, introduced during the Clinton Administration, was terminated