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Iacocca: An Autobiography Chapter Summary & Analysis - Chapters 16-17 Summary

This Study Guide consists of approximately 26 pages of chapter summaries, quotes, character analysis, themes, and more - everything you need to sharpen your knowledge of Iacocca.
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Chapters 16-17 Summary and Analysis

Iacocca had his management team, but Chrysler's problems continued. The crisis in Iran began on January 16, 1979, when the Shah left the country. This led to a doubling of the price of gas and the beginning of the energy crisis. Many Chrysler cars were gas guzzlers. At this time, small cars were not selling well, but all of this changed overnight.

Chrysler would have to invest in new plant and products over the next five years to survive. As they began, the economy entered a serious recession. The company had to take drastic measures. They closed some plants and cut costs any way they could and implemented a just-in-time parts system. Chrysler sold its dealer real estate because they needed cash. They sold other operations for cash so that their suppliers would continue to supply them. Thousands of workers were laid off.

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This section contains 229 words
(approx. 1 page at 300 words per page)
Purchase our Iacocca: An Autobiography Study Guide
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Iacocca: An Autobiography from BookRags and Gale's For Students Series. ©2005-2006 Thomson Gale, a part of the Thomson Corporation. All rights reserved.
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