DaimlerChrysler
Chrysler Corporation was sold to Daimler-Benz AG in 1998 to form DaimlerChrysler. Rationalizing Chrysler's broad lineup was a priority, and Dodge's sister brand Plymouth was withdrawn from the market. With this move, Dodge became DaimlerChrysler's low-price division as well as its performance division.
The Intrepid, Stratus, and Neon updates of the 1998 to 2000 timeframe were largely complete before Daimler's presence, and Dodge's first experience of any synergy with the German side of the company was the 2005 Magnum station wagon, introduced as a replacement for the Intrepid. Featuring Chrysler's first mainstream rear-wheel drive platform since the 1980s and a revival of the Hemi V8 engine, it was a modest success. The Charger was launched in 2006 on the same platform.
Further synergies were explored in the form of an extensive platform-sharing arrangement with Mitsubishi, which spawned the Caliber subcompact as a replacement for the Neon and the Avenger sedan. The rear-drive chassis was then used in early 2008 to build a new Challenger, with styling reminiscent of the original 1970 Challenger.
In Spring 2007, DaimlerChrysler reached an agreement with Cerberus Capital Management to sell off its Chrysler Group subsidiary, of which the Dodge division was a part. On June 10, 2009 Italian auto maker Fiat formed a partnership with Chrysler in which a "New Chrysler" was formed and was given the name Chrysler Group LLC in which Dodge remains a part of.
In response to very high motor fuel prices in Spring 2008, Dodge initiated a purchase incentive guaranteeing the buyer of a new Dodge would have to pay no more than $2.99 per gallon of gasoline for three years. Shortly after the promotion began, the average price of gasoline dropped well below $2.99 per gallon.
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