Chrysler May Go Public

Following the already announced initial public offering (IPO) to be made by GM, the other bankrupt American manufacturer of last year's is considering a similar course of action. A possible Chrysler IPO was confirmed by the company's CEO, Sergio Marchionne, during a meeting with analysts and journalists in Detroit.

"This is an issue the board will look at very closely for the remainder of 2010," Marchionne was quoted as saying by Autonews. “The fact we've gotten this far would suggest there's a strengthening base for looking at an IPO in a much shorter time frame than most people would expect."

In addition with this news, the CEO and the CFO, Richard Palmer, announced the 2010 achievements of its dealers. Chrysler is on the verge of getting all the 2,332 dealerships it has top sell all the company's four brands by 2011, with 83 percent of them already doing so. Even more, two thirds of the dealers are already profitable and 70 percent of them have floorplanning with GMAC. All in all, the data indicates Chrysler is on the right track.

"We are forecasting 2010 will end up around 12 million,” Marchionne said. “It's an indication we've found the bottom of this market. “f we can make money at this level, it's a good indication that we'd be profitable for the rest of the year."

At the end of April, Chrysler announced it's financial result for the first quarter of 2010. The group managed to post a 3 percent increase in net revenues for the period, amounting to $9.6 billion and a net loss of $197 million.