DaimlerChrysler to Stop Production of Jeep Cherokee
From Bloomberg News
AUBURN HILLS, Mich. —
DaimlerChrysler said it will stop building the Jeep Cherokee, the 18-year-old model that helped make sport-utilities the vehicle of choice for affluent U.S. consumers.
The third-biggest auto maker in the U.S. said it will stop building the Cherokee by midyear, shortly after it introduces the Liberty, a smaller sport-utility vehicle. The Liberty will be built at the company’s new Toledo North assembly plant in Ohio, just down the road from where the Cherokee and Jeep Wrangler are now built.
Workers who build the Cherokee will move to the new factory to build the Liberty, a company spokesman said.
DaimlerChrysler shares rose 62 cents to close at $44.76. on the New York Stock Exchange.
