Chrysler LLC is on track to lose about 1.6 billion U.S. dollars this year, Chief Executive Officer Robert Nardelli told a group of employees this week, The Wall Street Journal reported on Thursday.
Nardelli said the auto maker's costs will exceed about 64 billion dollars, while its revenue will fall short of 63 billion dollars.
Nardelli's remarks parallel a similar statement last week by Steven Landry, Chrysler's top sales executive. Speaking to a group of Canadian business students, Landry said last week that Chrysler's costs would exceed its revenue by about 1 billion dollars.
A loss in 2007 would mark the second year in a row that Chrysler has been unprofitable. The company, in which Cerberus Capital Management LP acquired a majority stake in August, posted a 1.4 billion dollar loss in 2006 when it was still part of Daimler Chrysler AG.
Source:Xinhua
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