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Christopher Bruce2012-07-05 20:27:48

Marchionne Says Chrysler Profit May It $3 Billion in 2012

Fiat will eventually own all of Chrysler perhaps before 2016

ChryslerChryslerChryslerUnited States of America, 1925 > present70 models
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CEO Sergio Marchionne predicts that Chrysler could exceed $3 billion in profit in 2012. He also announced that FiatFiatFiatItaly, 1899 > present159 models
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35 videos
has completed its purchase of 3.3% more of Chrysler for a total stake of 61.8%. 

"Chrysler sold 1.23 million cars in the first half, which is over half of our target. The objective of $3 billion is close at hand. We could overshoot it," said Marchionne. 

Chrysler's current US capacity is 2.8 million cars a year. If it wants to sell beyong that it will have to find capacity form other places. One possibility is exporting Chryslers rom Fiat's factories in Europe to the US. 

Marchionne said that Fiat's purchase of Chrysler may be taking too long. It had originally planned to buy all of Chrysler by 2016. Instead, Fiat may buy larger portions of the company with cash. 

Source: Automotive News Europe

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