Chrysler LLC said it is weighing strategic options for its Dodge Viper business, which could include a sale of the brand.

Chrysler May Sell Dodge Viper

The automaker said it has been approached by third parties who have shown interest in the sports car line. Chrysler said it will focus on strengthening its core Dodge portfolio, and is rolling out four new Dodge offerings in 2009 -- the Journey, Challenger, Durango Hybrid and Ram.

"We have been approached by third parties who are interested in exploring future possibilities for Viper," Bob Nardelli, Chrysler's chairman and CEO, said in a statement. "As the company evaluates strategic options to maximize core operations and leverage its assets, we have agreed to listen to these parties. We will do so keeping in mind the best interests of those who have shown tremendous support for the vehicle -- including employees, suppliers, dealers and a worldwide group of loyal Viper owners and enthusiasts."

The announcement comes as Chrysler struggles with declining sales brought on by a weak economy and lower demand for its trucks and sport utility vehicles. The Auburn Hills, Mich.-based automaker's sales have fallen 23 percent through July this year.

The Viper is hand-built in a low-volume process at the Conner Avenue Assembly Plant in Detroit, which operates largely independent of Chrysler's other production facilities. The vehicle was introduced as a concept vehicle at the 1989 Detroit auto show. It was first available as a production vehicle in the 1992 model year.

"Viper is an integral part of this company’s heritage," Nardelli said. "While this is a strategic review, our intent would be to offer strong operational and financial support during any potential transaction, in order to ensure a future for the Viper business and perpetuate the legacy of this great vehicle.”"

Chrysler said it has not set a definitive timetable for completion of the review of its strategic options and no final decision has been made with regard to the Viper business.

Chrysler went private last August after the private equity firm Cerberus Capital Management LP bought a majority stake in the automaker.