Wednesday, June 03, 2009

Chrysler Losing $100 Million Per Day

Chrysler is losing $100 million per DAY? How is that even possible? Doesn't that annualize to $30+ billion
per year? Wow.

Click here for a Bloomberg article on the subject.


Update: We've received feedback from one of TILB's gearhead friends. Fantastic retrospective on Chrysler's green shoots from just two years (at the peak):
I would say losses are directly tied to circumstance that current capacity utilization is at 40% but budgets were baked at 90%.

Which is not what executives were planning on...

Link to story below:
Chrysler sees 100 pct capacity utilization in '08
Wed Feb 14, 2007 11:36am EST

AUBURN HILLS, Mich, Feb 14 (Reuters) - Chrysler Group's DCXGn.DE Chief Executive Officer Tom LaSorda said on Wednesday he expects the company to have 100 percent production capacity utilization going in to 2008. The money-losing U.S. unit of DaimlerChrysler announced a restructuring plan earlier on Wednesday that targets a 400,000 unit reduction in production capacity and slashing of 13,000 jobs by 2009.

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