Restructuring of Chrysler is getting positive results, says CEO Sergio Marchionne

Article by Christian A., on August 29, 2010

Sergio Marchionne, the CEO of both Fiat SpA and Chrysler, revealed that the restructuring of Chrysler is getting "positive results." After an industrialists' conference Friday in Parma, Italy, Marchionne said that with regards to the market share figures from the US, there is a "slow gradual process," and that people have to give this re-making exercise some time.

He shared that he is now more confident about Chrysler's prospects than a year ago.

In the first quarter of 2010, US sales of Chrysler Group vehicles dropped 5% as Marchionne cut discounts to consumers.

Meanwhile, sales in the entire car industry in the US had risen by 16%. Marchionne had said that he is against incentives that would only serve to widen market share but at the expense of profits.

Autodata Corp. disclosed that Marchionne had reduced discounts for Chrysler, Dodge and Jeep brand vehicles by $1,122 in the first quarter, which is considerably more than the cuts made by General Motors Co. of $230 and Ford Motor Co. of $214.

Toyota Motor Corp. and Honda Motor Co. offered no-interest loans and other discounts that cut transaction prices. In the quarter, the value of Toyota's incentives went up 22%, while Honda's rose by 25%.

If you liked the article, share on:

Comments

Recommended

Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 2017
Are you a big fan of legendary boxer Mike Tyson, the former heavyweight world champion? Or are you a big fan of the iconic Ferrari F50? Either way, you will...
by - February 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries