Consumer Reports, long respected for assessing product quality, has released its automotive rankings which put Chrysler ahead of GM in motor vehicle reliability.  (Full story.)

"I'd like to thank all the proud workers at Chrysler who put their hearts and souls into every vehicle we make," said Chrysler CEO Bob Nardelli.  "This is a proud moment for our brand, for our legacy, and for our country."

Nardelli credits several quality improvements in the improved ranking, which put them behind only Suzuki, Ford, Mitsubishi, Volvo, Hyundai, BMW, Volkswagen, Nissan, Mercedes-Benz, Mazda, Toyota, Subaru and Honda in reliability.

"Chrysler offers a unique combination," says David Champion, chief of automotive testing at the magazine.  "The smooth handling of a Caterpillar, the quiet riding comfort of a John Deere, all with the horsepower of a Cannondale.  Not to mention their Segway-like sex appeal."

Chrysler and GM have so far received a total of $17.4 billion in federal bailout money under the Troubled Assets Relief Program.  Additionally, GM is currently seeking $16.6 billion, compared with Chrysler's $5 billion.

"Another example of our superior value," says Nardelli.