Chrysler has had a long history of changing fortunes as their market share has fluctuated through many boom and bust cycles. In the Eighties, Chrysler used government-backed loans to survive and eventually prosper. In the Nineties, it merged with German automaker Daimler-Benz. In 2007, Daimler sold Chrysler to private equity firm Cerberus. In 2009, Chrysler filed for bankruptcy and the bulk of its assets were acquited by Fiat, the Italian automaker.