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,
Chrysler Australia its class. In 1979 Mitsubishi Motors Corporation and Mitsubishi Corporation each acquired a one sixth equity in Chrysler Australia and in April 1980 the two companies purchased the remaining shares in the company from the US Chrysler Corporation. The company name was changed to Mitsubishi Motors Australia Limited on 1 October 1980. Mitsubishi continued to build the Valiant models with Chrysler badging until August 1981 and production of the Sigma range continued under the Mitsubishi name until 1987. Colt, Magna, Verada and 380 models were subsequently produced before production of passenger vehicles was discontinued in March 2008. The company continues