U.S. President Jimmy Carter authorizes legislation giving $1.5 billion in loans to bail out the Chrysler Corporation.

James Earl Carter Jr. was an American politician and humanitarian who served as the 39th president of the United States from 1977 to 1981. A member of the Democratic Party, Carter served from 1971 to 1975 as the 76th governor of Georgia and from 1963 to 1967 in the Georgia State Senate. He was the longest-lived president in U.S. history and the first to reach the age of 100.

FCA US, LLC, doing business as Stellantis North America and known historically as Chrysler, is one of the "Big Three" automobile manufacturers in the United States, headquartered in Auburn Hills, Michigan. It is the American subsidiary of the multinational automotive company Stellantis. Stellantis North America sells vehicles worldwide under the Chrysler, Dodge, Jeep, and Ram Trucks nameplates. It also includes Mopar, its automotive parts and accessories division, and SRT, its performance automobile division. The division also distributes Alfa Romeo, Fiat, and Maserati vehicles in North America.

January 7 is the seventh day of the year in the Gregorian calendar; 358 days remain until the end of the year.