In 1979, Chrysler was on the brink of bankruptcy. In 1980, the government bailed them out of a $1.5 billion hole. By 1983, Chrysler had released the first minivan, earning them $300,000,000. How did the minivan save Chrysler?
Chrysler’s rough financial straits began in the 60s when, in an effort to try and catch its competitors, it tried to expand domestically and worldwide. They were unable to. In the 70s, there were between 3 recessions, 2 energy crises, and new environmental and fuel standards. That’s not even mentioning competition from Japanese and German compact cars. Chrysler couldn’t compete, and was bailed out by the government.