According to the analysts, the major reasons for Chrysler’s present financial problems were
its poor business strategy, lack of innovation, and the global financial crisis. According to
David Lewis, professor at the University of Michigan’s Ross School of Business, “In recent
decades, it’s had a more turbulent time, with more ups and downs than other automakers.
Each decade, it seemed that Chrysler had a crisis.”
Chrysler failed to bring out new vehicles that met changing customer needs ahead of the
competition. The global financial crisis in 2008 only resulted in further deterioration of
the company’s financial health.