Chrysler bankruptcy will severely impact Indian auto part makers

While the slowdown in the domestic automobile market had badly affected Indian auto parts makers, but still many were witnessing shored up profits on account of their export orders from US, better rupee-dollar currency conversion rates. But now the writing is on the wall. Chrysler is finally preparing to file for bankruptcy protection as early as next week, irrespective of whether the company cracks a deal with its lenders or forges an alliance with Italian entity Fiat SpA, as reported by a number of American business dailies.