NEW YORK (CNNfn) - DaimlerChrysler AG will begin phasing out its Plymouth brand, which has seen a decline in sales in recent years.
A source familiar with the plans told CNNfn that the move to drop the Plymouth brand was "good for investors."
DaimlerChrysler (DCX) officials are meeting in Las Vegas this week with leaders of the company's dealerships, and a decision is expected Wednesday.
The Plymouth brand, a well-known name that includes the Neon small car and the Voyager minivan, is the lower end of DaimlerChrysler's product range. By discontinuing Plymouth, the company could cut advertising and other costs without doing too much damage to its product lineup.
Analysts said DaimlerChrysler had been laying the groundwork for such a move because Plymouth has not introduced any significant new models in several years.
DaimlerChrysler shares slipped 15/16 to close at 75-1/4 in Tuesday trading.