Chrysler

It had a good run, but what can you really expect from a car that was around for 9 years without any major re-designs?

Bloomberg

Chrysler LLC, pruning its lineup to save money, will stop building the PT Cruiser this year and is seeking buyers for the equipment used to make the model, PresidentTom LaSorda said.

Production “ends this summer,” LaSorda said today in a telephone interview. “Would we sell those assets? Yes. Do we have any offers to sell those assets? No. Would we be pursuing a buyer? Yes.”

The PT Cruiser, with a rounded body to mimic 1930s-style station wagons, would be the seventh model to be canceled since Cerberus Capital Management LP bought Chrysler in August 2007. The third-largest U.S. automaker is using $4 billion in federal loans to stay in business while reshaping operations to end losses.

Classified as a truck, the PT Cruiser has four passenger doors and a liftgate at the back. The model once targeted to appeal to younger buyers instead ended up attracting older consumers looking for a cargo-hauling vehicle, Wolkonowicz said.

U.S. sales of the PT Cruiser plunged 49 percent last year to 50,910 units, outpacing Chrysler’s 30 percent slide and the 18 percent tumble in the domestic auto market. Deliveries peaked at 144,717 in 2001, according to Autodata Corp. in Woodcliff Lake, New Jersey.

Chrysler builds the PT Cruiser at an assembly plant in Toluca, Mexico.