Sunday, April 25, 2010
Chrysler posts 1st profit since bankruptcy
Chrysler has posted its first quarterly operating profit since being acquired by an Italian automaker. Chrysler will also said it will remain on target to break even on an operating basis for the full year. The company attributes its operating profit to continued price discipline on all products as well as the successful launch of the all new Ram Heavy Duty pickup.
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This is certainly a breath of fresh air for Chrysler. They came out of the bad time and forecasting no more losses. Chrysler like other GM makers should target at new concept vehicles that would increase their revenue. Electric car has been a great concept for other makers. Chrysler's revival is an important news from national point of view. US economy would face a huge downturn if Chrysler was laid off. This would affect GDP and make the investment go down. So this is indeed a great news.
ReplyDeleteThe fact that Chrysler has profited is a good sign for U.S. economic recovery. I agree with Taimur in that the US economy would have faced a downturn if Chrysler was laid off.
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