Wednesday, September 12, 2007
Chrysler Group feels economic squeeze
The economic credit squeeze in the US could force newly independent Chrysler to cut back on its range.
Speaking in Detroit, Robert Nardelli, Chrysler’s incoming boss, said its plans would be effected by prevailing economic conditions, and that although the Chrysler, Jeep and Dodge brands were safe from closure, some of the current model line-ups could be axed.
This could see the demise of some niche or less mainstream models, and Nardelli said that any decisions would not be based on sentiment.
Even before America’s current economic travails, Chrysler and its bigger US rivals Ford and General Motors were suffering from major financial problems, and all are the subject of far reaching restructuring plans. Until recently Chrysler was part of the German-controlled DaimlerChrysler combine.
DATED: 12.09.07
FEED: MT
