FRANCE: Chrysler expects profit in next two quarters - report

By just-auto.com editorial team | 26 September 2002

Chrysler president Dieter Zetsche said yesterday that the DaimlerChrysler US unit expects to post a profit in the next two quarters, underscoring that the unit's turnaround plan is still ahead of schedule, Reuters reported.

"We expect to be profitable in the next two quarters to come. That will lead us to something ahead of our break-even result goal" for 2002, Zetsche told Reuters on the eve of the Paris auto show.

In the first two quarters, Chrysler posted over 900 million euros in combined operating profits, with 788 million euros of that coming in the second quarter, Zetsche told Reuters.

But he declined to say how the second half would compare with the first half, Reuters said, adding that vehicle makers typically make their largest profits in the second quarter due to the strong spring selling season.

Zetsche told Reuters that Chrysler has beaten its cost reduction target and now wants to improve revenues.

Reuters said Chrysler was still considering introducing the Dodge brand in Europe but only if a full range of models could be launched there.