In the late 1960s and early 1970s GM
and FMC performance models found tough competitors in
Plymouth and Dodge. But the 1970s proved to be a difficult
time for Chrysler. The 1973 oil crisis and new government
emission standards presented a major challenge for American
manufacturers of large, powerful, and gas-guzzling vehicles.
In need of smaller, more efficient vehicles, Chrysler
acquired a 15% stake in Mitsubishi Motors in 1971 and
began selling rebadged Mitsubishi models in the United
States soon after. Nonetheless, high manufacturing costs
caused by outdated factories and an uninspiring model
lineup drove the company into financial trouble. In
1979, Chrysler Corporation petitioned the U.S. government
for $1.5 billion in loan guarantees to avoid bankruptcy.
This review of Chrysler literature presents a picture
of a decade that ended an era... but began a new one...
It makes for an interesting literature collection.