Seeing Huge Losses, Chrysler Slashes Production
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The Chrysler Group said today that it expects to lose $1.26 billion in 2006, and that it will cut production in the third quarter by 90,000 vehicles.
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Chrysler Group Chief Executive Tom  LaSorda said on Saturday the No. 3 U.S. automaker was mending  strained relations with its dealers after an inventory crisis  that pushed it into a $1.5 billion third-quarter loss.
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James E. Press has been lured away from Toyota as Chrysler transforms itself as a private company.
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FRANKFURT, Germany -- Automaker DaimlerChrysler AG said Wednesday that its second-quarter profit fell 14 percent, even as the Chrysler division and financial services business that it has sold to a private equity group posted better results.
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For all of 2006, the worldâs largest automaker reported a $2 billion loss but cited progress in its restructuring.
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U.S. automaker Chrysler LLC aims to cut  its product lineup sharply and shrink its dealership network to  sell its three brands under one roof as part of its corporate  restructuring, the company said on Friday.
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AUBURN HILLS, Mich. Chrysler plans to idle several assembly plants to decrease inventories and allow factories to prepare for the production of new models.
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DaimlerChrysler AG's (DCXGn.DE)  Chrysler Group plans to cut more than 10,000 factory jobs and  close at least two plants to return the U.S-based unit to  profitability, the Detroit News said on Monday.
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Chrysler LLC faces a serious financial  crunch and is trying to sell assets to raise cash, just months  after the automaker was bought by private equity firm Cerberus  Capital Management, The Wall Street Journal reported on Friday.
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DETROIT -- Chrysler LLC plans temporarily to close four assembly plants and to shut down one shift at another due to the bankruptcy filing of one of its plastic parts suppliers, the automaker said Monday.
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Pressured by foreign competitors and plagued by an oversupply of gas-guzzling trucks, Chrysler Group unveiled plans yesterday to cut 13,000 jobs and opened the door to speculation the company could be sold.
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Meanwhile, Detroitâs other automakers experienced significant declines.
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DaimlerChrysler AG's  Chrysler Group plans to cut more than 10,000 factory jobs and close at least two plants to return the U.S-based unit to profitability, the Detroit News said on Monday.
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Chrysler Group, the  struggling U.S. arm of DaimlerChrysler AG (DCXGn.DE), on  Wednesday said it would cut 13,000 jobs or 16 percent of its  work force in a bid to return to profitability by 2008.
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Chrysler LLC said on Tuesday its U.S.  sales fell 6 percent in August as the automaker cut back on  sales to daily rental companies.
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DaimlerChrysler  raised the prospect of parting company with its loss-making U.S. Chrysler arm on Wednesday, a move which could unwind a blockbusting 1998 merger creating the world's No. 5 car maker.
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DaimlerChrysler AG's DCXGn.DE U.S.   arm Chrysler is cutting production by 135,000 units in the   second half of 2006 to reduce a glut of unsold trucks and sport   utility vehicles after a failed summer sales effort, the   company said on Tuesday.