Chrysler Lost $1,111 Per Vehicle in '06
Published: August 8th, 2007
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As if a new owner, a new CEO, housecleaning in the executive suites and negotiating a new contract with the United Auto Workers weren't enough to keep Chrysler's middle management mainlining Mylanta at the Pentastar Palace, the Detroit News reports that Chrysler lost $1,111 on every vehicle they sold in North America last year. That's a drastic drop from the $144 per vehicle they made in 2005, before sales of large trucks and SUVs hit the skids. The only bright spot: Chrysler didn't lose as much money as Ford. The Glass House Gang's losses ran over $1900 per vehicle. To rub salt into festering wounds, the transplants (Toyota, Nissan, Honda) averaged nearly $1600 profit per vehicle.
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The Rule of Holes is: "If you are in a hole, stop digging." Clearly, they would be better off closing shop and and going fishing.