Marchionne Promises: Chrysler to See Profit in 2011

The new Chrysler, as the company is called after the official exit from bankruptcy, is going to become profitable in 2011. At least, this is what the new CEO of the company, Sergio Marchionne, is promising, according to an interview for The Globe and Mail. He said the US-based manufacturer will most likely show the first signs of recovery in 24 months.

“I can see us making money in the next 24 months,” he said in the interview. "We have decided not to flog inventory, because we're disciplined about production, because we're going to try not to discount the vehicles. If [discounts are] the only way I can sell them, I'd prefer not to produce them because I'm not making any money.”

Marchionne said earlier this month in a statement that Chrysler is going to sell more cars in November and September brought so low sales because of the end of the Cash for Clunkers programme.

"September is not an indication of future performance, I’m not apologizing for it, it is the consequence of a number of actions that were taken in the past, all of which have culminated in the month of September – you may see similar numbers in October, I don’t know," he said.

"The machine is timed, we’re not bleeding as people think we are, the level of cost consciousness at this house is probably at a historical high, the real important issue is to try and build a future. And I would just ask you to wait until November and you can see it. The future is a lot a lot better than the market share in September would indicate."