labels: Automobiles
Chrysler expects a $1.6 billion loss this year news
Our Corporate Bureau
07 December 2007

Chrysler chief executive Robert Nardelli expects the auto manufacturer to lose around $1.6 billion this year, the Wall Street Journal has reported. According to the report, Nardelli said the automaker's costs will exceed $64 billion, while revenue will fall short of $63 billion. It said the CEO told this to a gathering of Chrysler engineers outside Detroit.

Earlier, on Monday, Chrysler's vice president for US sales Darryl Jackson said the company would review its North American production schedule every week in 2008, as the year looks very tough.

Detroit's big three automakers - Chrysler, General Motors and Ford - are bracing for industry-wide sales of around 16 million units this year, their lowest numbers since 1998.

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Chrysler expects a $1.6 billion loss this year