Paul Sancya/AP DETROIT -- Chrysler is investing $52 million at two Michigan plants to build more four-cylinder engines in anticipation of increased demand. The money is going into factories in Trenton and Dundee, Mich., south of Detroit. Almost 300 new jobs will be created at the Trenton North factory. The investment will help Chrysler build more Tigershark engines, which are currently used in the Dart compact car and likely to power new Chrysler cars in the future.
Chrysler said in a statement Wednesday that it will spend $40.5 million at the Dundee factory to convert an assembly line to make cranks, heads and engine blocks for the 2-Liter, four-cylinder Tigershark engine. In addition, Chrysler will spend $11.5 million on a new Tigershark assembly line at the Trenton North plant and add 298 new jobs. The added production is expected to be ready at both plants by the end of the third quarter. Chrysler has sold just over a million vehicles so far this year, up 9 percent. After hitting a 2009 low of 931,000, the company's sales grew to 1.6 million last year. The company has sold more than 51,000 Darts so far this year. The car made its debut in the summer of 2012. The company is expected to put the Tigershark engine in additional cars as it rolls out new products.
By Michael Zak | AOL Autos
A recent Interest.com study looked at the 25 largest metropolitan areas in the United States to see which median-income households in those respective areas can afford to purchase a new car, the average price of which was $30,550 in 2012, according to TrueCar. The study found that in only one city can residents actually afford a car with this sticker price -- Washington, D.C. Households with an average income in Washington, D.C. can afford a payment of up to $628, which would allow for purchase of a $31,940 vehicle. The next closest city, San Francisco, can only afford $537 per month, equating to a $26,786. While it's not news that Americans like to buy things that they can't afford, the data is a little surprising given how many great cars there are out there for well under $30,000. Solid hybrids, CUVs, sedans and sports cars can all be had for less than this.
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