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 facilities, including opening a new assembly plant at Clovelly Park in 1964 and an engine foundry at Lonsdale in 1968. During this time, Chrysler Australia established its position as the third of the "Big 3" Australian motor manufacturers behind General Motors-Holden's and Ford Australia. Initially, Chrysler Australia assembled North American Chrysler passenger cars and trucks. Their most popular car in the 1950s was the US sourced badge engineered trio: Plymouth Cranbrook, Dodge Kingsway and De Soto Diplomat, each based on the 1954 US Plymouth. A coupe utility variant was also developed by Chrysler Australia and this was marketed in nine