Chrysler Aiming for a Two Year Turnaround

Frank Williams
by Frank Williams
chrysler aiming for a two year turnaround

As a privately-held company, Chryslerberus doesn't have to reveal its financial information to the general public. However, executive VP of North American sales, Steven Landry, gave us a peek behind the curtain during a talk to students at his alma mater, St. Mary's University in Halifax, Nova Scotia. The Detroit Free Press reports that as he discussed Chrysler's efforts to return to profitability, he revealed they'll fall about $1b short of what they're spending. Their overall plan? "Lose a little money this year, break even next and rake it in during 2009 and 2010," according to a report in the Halifax Daily News."You have to come to the realization that in some instances, you've got to stop spending," Landry opined. "You've got to right-size what you do to the revenue that comes into the company." Of course, Chrysler's spinmeisters were all over his comments, qualifying them by saying Landry was talking in generalities to students. I wonder what Chrysler CEO Boot'em Bob Nardelli had to say to his talkative Veep upon his return to Auburn Hills.

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  • OldandSlow OldandSlow on Nov 30, 2007

    Let's see, they are not going spend much money, shrink the company and still offer a revamped product line up. It all adds up.... In 2010, it will be products that determine who is profitable and who isn't. Does this mean that Chrysler has some new engines, transmissions, interior trims, hit styling and better fuel economy waiting to hit the streets?

  • EJ_San_Fran EJ_San_Fran on Nov 30, 2007

    And how exactly are all those TWATs going to turn into gems?

  • Redbarchetta Redbarchetta on Nov 30, 2007
    With all the “turn arounds” on hand for Chrysler I’d say they are on year 28 of their 30 year turnaround. Priceless, I'm still giggling and I can't stop. Also because the guy right across from me in our office just bought a brand new Caliber on Tuesday. I don't know weather to tell him the 'Lifetime Warranty' is a scam. He's such a nice guy I hate to crush him like that.
  • Windswords Windswords on Nov 30, 2007

    "Does this mean that Chrysler has some new engines, transmissions, interior trims, hit styling and better fuel economy waiting to hit the streets?" Yes. they have new family of V6 engines coming out that also be used by Mercedes (don't look for the Germans to admit it though). Remember the tri-headed dog only owns 80% the other 20 is owned by Dr Z (aka Mr. Hyde). They also have a new DSG tranny they are working on with a partner (Gertrag?) to be built in a new factory here in the US of A. They are also building a new Axel plant for RWD applications. Cars - new Minivans are out, the new Ram is coming - and will have coil springs instead of leaf springs in the light duty model to give it a better ride than the competition, the new Journey CUV is coming (doesn't impress me but you never know), and of course the Challenger in a few months (which does impress a lot of people).