Chrysler under GM when filed for bankruptcy, on April 30, 2009, did not have many hopes for a brighter future. But when Chrysler thought everything was down and out, Fiat pitched in and Chrysler was able to strike a deal with Fiat, which made Fiat the joint owner of Chrysler.

This will in future be a very profitable business for both the companies, a give and take policy. By joining hands with Chrysler, Fiat has gained an easy access to the American automobile market and Chrysler has had the benefit of learning new technologies from Fiat, which will help it to make more new-generation cars than ever in the near future.

But it appeared to be a tough journey for Chrysler and Fiat when the sale was delayed by the Supreme Court following an appeal by the consumer groups, Indiana pension and construction funds, and others to stop the transaction.

But luckily everything started falling into place when Supreme Court cleared the path for the deal and Chrysler sold its assets to Fiat group SpA. Chrysler, with this sale, has been freed from the clutches of bankruptcy.

Chrysler has never gone through a similar situation. Even though Chrysler was on the verge of filing a bankruptcy more than once, it has never happened during its 80 years of business.

This plight of the company is mainly due to its inability to think in a contemporary fashion. Chrysler failed to bring out new looks and technology in its cars, it was stuck with the long gone design and features. This didn’t impress the car buyers who were flooded with plenty of options to choose from. This brought down the sale of the company and this finally ended up in the filing of bankruptcy.

Now with a new lease of life being imparted to Chrysler, It should come out with innovative car designs and features that could charm the car buyers to Chrysler’s showrooms.

Chrysler is a big name for America and now with the US government supporting the Chrysler-Fiat partnership, Chrysler should regain its lost glory. But even months after Chrysler joined hands with Fiat, there are not many clear cut plans announced by both the companies. But let’s hope a real come back from this master carmaker.