Industry Insiders: "Chrysler Is Going Out of Business"
ame12 submitted on 10/5/2009 Official Bell & Ross Timestamp: 8:37:27 PM
27 user comments | Category: Misc News | Source: | SOURCE: directorblue.blogspot.com
Earlier today, Mopar Muscle Magazine reported that industry insiders believe Chrysler is doomed.
Rumors, credible rumors, are beginning to circulate in the car industry and the automotive press, that Chrysler may not make it another year primarily due to its falling sales and growing financial losses at partner Fiat.
Chrysler sold a 62,197 cars in September, down 42% from the same month last year. The figure was down from 93,222 in August when traffic to dealers was pushed up by the ”cash for clunkers” program.
Chrysler’s problems may only be beginning and, if so, Fiat, the ”managing partner” among Chrysler’s owners may not be able to keep the American company intact.
Analysts assert that the smallest member of the big three no longer has enough market share to cover its cost base. Furthermore, Ford -- the only non-nationalized auto company -- is picking up market share at the expense of both Chrysler and GM.
Taxpayers are likely to lose most of the $81 billion that Congress and the administration sunk into the two companies, according to the Congressional Oversight Panel. Chrysler is expected to lose all $14.3 billion of the taxpayers' money...
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