Because better performance is expected to lower the cost should be just 1.5 million vehicles sales a year as Chrysler achieve breakeven, "Sergio Marchionne, Fiat and Chrysler CEO told investors at a meeting in Detroit last Sunday 12/01.
In 2010, Chrysler has sold 1.6 million vehicles globally, including 1.085 million vehicles in the U.S.. Meanwhile, the 5-year plan was announced in November 2009, Chrysler launched breakeven point is 1.65 million vehicles.
Chrysler will report fourth quarter net profit and operating profit year to date 31/01 Marchionne notice but business results last year's losses due to higher interest payments for government debt.
Marchionne wants to be guaranteed a new loan with lower interest rates to pay 5.7 billion dollars for the U.S. government for Canada and $ 1.3 billion sale of stock before the initial public offering (IPO) in the last 6 months this year.
Talking to Automotive News, Marchionne said: "Recently, Goldman Sachs, a global investment bank has launched an initiative to help Chrysler to reverse the debt is financed by government loans and prepare for the IPO."
He wants the company's prospectus for the IPO was completed last quarter
Marchionne revealed to analysts, the Chrysler is on track to grow from $ 42 billion in revenue in 2010 will increase to 67 billion dollars in 2014 with operating profit of about $ 5 billion.
From breakeven in 2011, we anticipate that sales will increase to 3 billion net profit in 2014. Marchionne said.
Capital expenditure and spending on research and development plans up to $ 23 billion in 2014. Activities on 2% interest in the third quarter and automobile manufacturers were able to pay 10.5 billion foreign affairs in September.
Marchionne explained, "That means that even when production is low, we still have enough cash to invest in products and build their brand,"
Chrysler has launched 16 new products completely or partially renewed in 2011, including the Chrysler 300 are on display at Auto Expo North America.
Marchionne also stressed he would continue to hold promotion activities under control. Since 2009, Marchionne has repeatedly attacked the opponent relies on large capital, promotion abuse to a lack of healthy competition. He said Chrysler will compete on product quality.
"We will not give money to bribe customers, in the past have demonstrated that Chrysler could sell cars, but will lead to capital losses. We know that it leads to loss formula. "
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