Nissan and Chrysler have jointly announced that they are indefinitely halting plans for Chrysler to build the next-generation Nissan Titan half-ton pickup off the 2009 Dodge Ram 1500 platform, blaming the pause on the global financial meltdown. Also similarly impacted is a reciprocal manufacturing agreement for Nissan to produce a small car for Chrysler by 2010.
Automotive News and The Wall Street Journal both quoted a statement issued by Nissan and Chrysler saying that, "due to the current economic conditions, Nissan and Chrysler leadership directed their teams working on the two projects to work together in the first quarter of 2009 to improve the financial objectives for both companies before the projects move further forward."
The news follows Chrysler chairman Jim Press' remarks to the media earlier today at the . Press said the Nissan-Chrysler alliance was still moving forward.
The next-generation Titan would have been built at Chrysler's Saltillo, Mexico, assembly plant starting in early 2011. It's unclear what impact this decision will have on Nissan's long-term plans for the Titan. Titan production at Nissan's Canton, Miss., plant is scheduled to end in late 2010.