Chrysler CEO Sergio Marchionne said on Monday it will be "difficult" for the automaker to turn a net profit for the full year 2010.
He did not address the critical issue of how much a loss could be attributed to debt service on money loaned to it by the US government, and how much may be due to the weakening domestic car market in the second half.
"The cost of carrying that cash is very large," said Marchionne, who accompanied Vice President Joe Biden on a tour of the Toledo Jeep plant.
"But ...
Chrysler US will spend $43m on new equipment and tooling to expand its operations in Kokomo, Indiana.
Up to 379 of the new jobs will be filled by employees called back from layoff status, and 20 new hires in supervisory positions.
“As Chrysler Group works to implement the very robust business plan outlined on November 4, 2009, our facilities in Kokomo will play an integral role in achieving those objectives,” said Scott Garberding, senior vice-president and head of manufacturing. “This investment will keep our facilities at the forefront of innovation and advanced ...
Chrysler Group LLC said Tuesday it will offer zero-percent financing on most 2010 model year vehicles through June 1.
The move is the latest in the incentive battle that car makers have been waging for the past month or so. Toyota Motor Corp., which sparked the incentives race in March, on Monday said it would extend its no-interest loans, subsidized lease rates and free maintenance on some vehicles for a third month.
Automakers have been trying to control incentives, which eat into profits and can hurt a brand's image. Chrysler had the ...
Chrysler is dropping the longtime Sebring brand name and replacing it with "Nassau".
The Nassau name was used for a Chrysler concept car shown at the 2007 North American International Auto Show in Detroit. Designers have been working on updating the Sebring's interior and exterior, given that new CEO Sergio Marchionne says the current car is not up to par.
The car isn’t expected to look anything like the concept, however.
Details of the Chrysler Nassau and its presumed Dodge Avenger sibling are still scarce. Both sedans will reportedly receive ...
Chrysler may invest $43.3 million in equipment at its transmission and casting plants in Kokomo, Ind., according to an application for tax abatement from the city.
The investment is a clear signal that Kokomo's biggest employer has a future with Fiat. The company has already called back over 300 furloughed workers earlier this month and added a third shift to build up to 531,000 transmissions.
Chrysler is upgrading 75 percent of its vehicles this year with the help of partner Fiat SpA. Much of the improvements are in the areas of engines ...
Chrysler reported net losses of nearly $4 billion since it emerged from bankruptcy last year, but it had an operating profit in the first quarter and affirmed that it was on track to break even in 2010.
Chrysler posted a $197 million first-quarter net loss on Wednesday, but it had a $143 million operating profit and its cash flow turned positive due to sweeping cost cuts made during its 2009 bankruptcy.
But the accumulated losses since it emerged from a U.S. government-financed bankruptcy in June under management control of Italy's Fiat SpA ...
Almost a year into its government-funded rescue, Chrysler remains a laggard in sales against the industry and analysts increasingly question if Fiat can change the game for its struggling U.S. partner.
Chrysler is expected to show the benefits of cost cuts it has undertaken and cash savings realized when it provides the first full accounting of its performance since emerging from bankruptcy in June.
But more questions than answers could still remain about Chief Executive Sergio Marchionne's turnaround strategy.
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The jury remains out as to whether Fiat can stem the long-running ...
Fiat SpA unveils its first strategic plan this week since teaming up with U.S. carmaker Chrysler and CEO Sergio Marchionne could outline a timeframe two years ahead for selling stakes in a combined company.
Marchionne, something of a guru for the flailing car industry after predicting over a year ago there would be drastic consolidation, needs to lay out plans for new products to show he can achieve synergies and cost cuts with Chrysler.
Unveiling the plan -- which will include presentations from all of the company's business units -- will take ...
A new agreement between NASA and Chrysler may put rocket science on the road and automotive technologies in space. The collaboration seeks to use technologies originally developed for human spaceflight to enhance future vehicles and adapt advanced automotive technology for use in space.
Through its Innovative Partnerships Program, NASA has entered into a non-reimbursable Space Act Agreement with Chrysler Group LLC to coordinate technology development and pursue partnership opportunities in areas such as mobility systems, advanced materials and wireless technologies.
The goal of the agreement is to advance technologies in areas of ...
Sergio Marchionne is pushing designers and engineers to get all future models to market sooner than later. The lack of fresh product has slowed Chrysler’s ability to capitalize as much as competitors on the industry’s fledgling recovery.
The new 2011 Dodge Charger is scheduled to begin production later this year, before the revised 2011 Chrysler 300. That plan may be altered a bit though, as Marchionne may push 300 production ahead of the Charger. As the company's flagship sedan, Chrysler needs to hurry its 300 release to help draw customers back ...
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