The 1980s were a wild time for the Chrysler Corporation. After narrowly avoiding bankruptcy and getting a bailout from Uncle Sam in 1979, Chrysler was looking to regain its footing in the market and return to financial stability. Lee Iacocca took over as CEO and pulled off one of the greatest comebacks in the history of American business, but the road to recovery was undeniably a rocky one. We’ll get to the TC in a moment, but first, some background information is necessary.
In 1981, Chrysler revived the “Imperial” brand as a personal luxury coupe to try and compete with Lincoln. Based on the much cheaper Cordoba, the Imperial was expensive and produced a pathetic 140 horsepower from its 318 cubic inch V8 engine. While technically advanced, it was a commercial flop and Chrysler threw in the towel after just 3 years and 12,385 units produced. Continue reading