GENEVA: Zetsche confident in Chrysler recovery plan
DaimlerChrysler CEO Dieter Zetsche has expressed confidence in the recovery plan put in place to turn Chrysler around and to return a profit at the company.
Speaking at the Geneva Motor Show today he said that the UAW union's refusal to discuss health care concessions last year was one of the factors leading the automaker to consider selling its U.S. unit, the Detroit Free Press reported
"DaimlerChrysler management and myself are totally confident in the success of Chrysler's plan to return to profit by reducing its workforce and production capacity," Zetsche said.
Dieter Zetsche headed Chrysler for five years. He said that DaimlerChrysler had considered selling Chrysler before, but it was not until this year's annual press conference on February 14th that the company went public and said the company was considering 'all options' for Chrysler, including its sale.
Zetsche described the unions stance as: 'What we grant GM and Ford, we will not grant Chrysler.'"
Zetsche also confirmed that that DaimlerChrysler is still considering retaining Chrysler, although the rise in the company's share price and the interest the company has received in Chrysler would appear to mean that a sale is now unavoidable.
Chrysler Group is showing its Dodge Demon Roadster concept in Geneva.