Chrysler increases expected Q3 loss by nearly $1 billion
Chrysler increases expected Q3 loss by nearly $1 billion
Chrysler increases expected Q3 loss by nearly $1 billion
Posted Sep 15th 2006 10:46AM by John Neff
AutoBlog.com
The Chrysler Group is stepping in line with Ford today, which earlier announced more buyouts for Blue Oval workers, plant closings and that it won't see a profit in North America until 2009 at the earliest, to announce that it has increased the amount it expects to lose in the third quarter by almost $1 billion to a total of $1.5 billion. Citing a laundry list of reasons mirroring those that also caught Ford by surprise, including high fuel prices, lack of a competitive small vehicle lineup and high legacy costs, Chrysler states that it will take the hit this quarter but is "striving" to achieve a profit in Q4. The automaker will have eight new vehicles out by year's end to help achieve that aim, including the new Dodge Caliber, Jeep Patriot and Compass, and Chrysler Sebring. We wish 'em the best of luck.
[Source: DaimlerChrysler]
Posted Sep 15th 2006 10:46AM by John Neff
AutoBlog.com
The Chrysler Group is stepping in line with Ford today, which earlier announced more buyouts for Blue Oval workers, plant closings and that it won't see a profit in North America until 2009 at the earliest, to announce that it has increased the amount it expects to lose in the third quarter by almost $1 billion to a total of $1.5 billion. Citing a laundry list of reasons mirroring those that also caught Ford by surprise, including high fuel prices, lack of a competitive small vehicle lineup and high legacy costs, Chrysler states that it will take the hit this quarter but is "striving" to achieve a profit in Q4. The automaker will have eight new vehicles out by year's end to help achieve that aim, including the new Dodge Caliber, Jeep Patriot and Compass, and Chrysler Sebring. We wish 'em the best of luck.
[Source: DaimlerChrysler]
Record Breaker
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From: Warren MI. Home to Rams and Dakotas
RE: Chrysler increases expected Q3 loss by nearly $1 billion
I'm getting so tired of hearing the term "legacy costs" thrown around as a problem. The union side of the legacy costs are fully funded. Its the management side that is causing the problem. Their fund is the underfunded problem. Hence, its their problem so stop winning about it, and fix it by building something somebody wants.
Joe
Joe
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From: Sycamore, Illinois (displaced to Arkansas)
RE: Chrysler increases expected Q3 loss by nearly $1 billion
ORIGINAL: Midnight
Citing a laundry list of reasons mirroring those that also caught Ford by surprise, including high fuel prices, lack of a competitive small vehicle lineup ...
Citing a laundry list of reasons mirroring those that also caught Ford by surprise, including high fuel prices, lack of a competitive small vehicle lineup ...
I said it before, I'll say it again, "Unfortuantly, Dodge doesn't seem to be learning from other peoples mistakes... " When I bought my truck, mileage wasn't my biggest concern, but for some people it is, thats why the Japs are selling so good (that and they lie about reliabilty and build quality).
More fuel-efficent vehicles, a decent diesel offering in cars trucks and SUVs and I'm sure the real Big Three can turn this around!
