New Chrysler, but same old problems remain
China Daily | Updated: 2009-06-12 08:05
DETROIT: Chrysler was reborn on Wednesday under a new Italian parent, but it can't shake the shadows of its past: It's not selling enough cars, its fleet is tilted to trucks and SUVs, and help is more than a year away.
A 42-day stay in bankruptcy court cleansed the company of much of its debt and labor costs, but many analysts say Chrysler's immediate future is bleak. It lost $8 billion in 2008, and sales are down by almost half for the first five months of this year.
Cars designed by its new owner, Italy's Fiat Group SpA, won't make it to the US until late 2010. And even then there are no guarantees American drivers will want the tiny cars Fiat specializes in.
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