Earnings
Chrysler Aims To Pump Life Into Struggling Lineup
Ralph Gilles, Chrysler's chief designer, said Dodges will have crisp handling, be quieter, more fuel-efficient and have more luxurious interiors, reflecting consumer complaints about all those issues.
The Chrysler brand also will get six new vehicles, including a Fiat small car and a new mid-size crossover in 2013. The automaker is also considering adding a mid-size pickup to its Ram truck lineup. Chrysler had $5.7 billion in cash at the end of September, up $1.7 billion since it exited bankruptcy protection this June. As recently as December, though, the automaker was practically out of cash. It plans to sell shares publicly by the end of 2014. Its operations broke even in September because of savings from job cuts and factory closings. Joe Veltri, Chrysler's product development chief, said he has a lot more funding to revamp products and create new ones. Chrysler can go to a cupboard of Fiat technology to develop new products, a vast difference from Chrysler's prior owner, Cerberus Capital Management LP, a private equity firm. "We have far more tools to work with," he said.TheStreet Premium Services
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