Chrysler Warns It Will Be 'Difficult' to Make Net Profit in 2010

ChryslerAs it struggles to boost sales amid an economic slump, Chrysler CEO Sergio Marchionne says the automaker will have a "difficult" time making a net profit in 2010.

Marchionne offered no guidance for the company's performance in the third or fourth quarters of the year, Reuters reported. Chrysler, the No. 3 U.S. automaker, reported a net loss of $172 million in the second quarter and $197 million in the first quarter.

Marchionne said he is "satisfied" and that the company is "well ahead of plan" for its post-bankruptcy phase.

Chrysler left its U.S. government- supported bankruptcy in June 2009 under the control of Italy's Fiat SpA.

Marchionne said that Chrysler would be showing net profits if it had not borrowed from the U.S. Treasury so it would have operating cash.

Marchionne did not comment on a possible Chrysler IPO. General Motors, which also entered a U.S.-government sponsored bankruptcy, has filed for an IPO.

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captwally

Chrysler should have recalled many of their products long age. They fall apart. They are made of cheap material. I have owned a Jeep Grand Cherokee, and a Dodge Ram 1500 Both are junk, and worth nothing on trade. PERHAPS they should move to Mexico entirly, and for ever. Got rid of the Jeep (thank God) The Ram 2002 1500 is going to be a big problem. I hate to buy foreign, but What's the difference?? Chevey and Ford do not want the trade.

August 24 2010 at 4:21 PM Report abuse rate up rate down Reply
saltseareefz

we dont need chrysler

August 24 2010 at 1:22 PM Report abuse +1 rate up rate down Reply
kv37

This whole Chrysler deal sounds fishy to me.

August 24 2010 at 10:06 AM Report abuse +1 rate up rate down Reply
dondavy28

NEVER MAKE A PROFIT WHEN YA GIVE OUT BIG BONUSES,YA NEVER PAID THE FIRST BAILOUT BACK NOW JUST ASK OBAMASS FOR MORE TAXPAYER MONEY

August 24 2010 at 9:48 AM Report abuse +1 rate up rate down Reply