ITALY: Zetsche sees Chrysler in the black this year
Dieter Zetsche, chief executive officer of the Chrysler unit of DaimlerChrysler Group, has said that he expects the division to break even in 2004 or post a small profit. In recent years, the US-based carmaking unit has racked up big losses and been the focus of major restructuring efforts.
In an interview with Italy's Il Sole 24 Ore newspaper, Zetsche was also quoted as saying Chrysler was aiming to take one percent of the European car market in the next three years from 0.7 percent now.
"I believe 2004 will be a positive year for us and I expect to break even or make a small profit, even with our restructuring costs," Zetsche told the newspaper.
Chrysler failed to meet its target to break even last year and made an operating loss of 506 million euros.