Dieter Zetsche, president and CEO of the Chrysler arm of DaimlerChrysler AG, said Wednesday the automaker’s restructuring plan announced last February may have to be reconsidered depending on market conditions, according to a report carried on the Associated Press wire.
Zetsche also reportedly said that a better picture of the company’s financial complexion would be seen when its third quarter earnings are announced later this month.
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DaimlerChrysler said in February that its Chrysler unit would return to profitability during 2002, though it didn’t indicate in which quarter. Now, those goals are looking harder to attain.
The February projections were based on the assumption that Chrysler would retain a 14 percent share of a market in which Americans would buy at least 16 million cars and light trucks this year.
Even before the events of last month, Chrysler was missing that market share target.
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