Share this story
Close X
Switch to Desktop Site

News In Brief

Chrysler files court suit to stop GM-Toyota deal

Chrysler Corporation filed a federal court suit here Thursday to block a plan by General Motors and Toyota to build jointly a new line of subcompact cars. In the suit, Chrysler charged the landmark venture would violate federal antitrust statutes.

About these ads

Chrysler asked the court to enjoin GM, the world's largest automaker, and Toyota, the world's third-largest, from consumating the deal, which was given tentative approval last month by the Federal Trade Commission. Richard Goodyear, a Chrysler vice-president and general counsel, said in a statement that joint manufacturing would ''have a devastating effect on competition'' in the US auto market.

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.