Chrysler may cut production further amid a steep drop in truck sales, according to a Wall Street Journal online report.
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The report cited an interview with Chrysler Chief Executive Robert Nardelli.
According to the report Nardelli said on the sidelines of the Journal’s “Deals and DealMakers” conference that Chrysler “may have to go back and resize” production again after May US sales fell 25% from the year before due to a drop in sales of Dodge Ram pick ups.
Nardelli also said that private equity buyers of auto maker Chrysler weren’t second guessing their decision to buy Chrysler, and that the business was ahead of target.
Nardelli said at a Wall Street Journal conference on Tuesday that Chrysler finished April with more liquidity than planned, and was ahead of overall financial performance and liquidity targets in May.
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By GlobalDataAsked at the conference if the private equity buyers of Chrysler would have bought the company if they had known what would happen to oil prices, Nardelli said it was “hard to say, but no one is second guessing the decision, no one is looking back”.
“We are guarded but optimistic,” Nardelli added. “We are very encouraged in what we have accomplished.”
