Chrysler Group’s new CEO Sergio Marchionne said today that the U.S. automaker could be listed on a stock exchange about 30 months from now. Marchionne said Chrysler will generate “healthy profit margins” when the U.S. market returns to 13 million to 14 million sales a year, but he does not foresee such volume in 2010, reports Automotive News.
“The true value of Chrysler could emerge when the company would be listed, but this will take a while — not sooner than 2½ years,” Marchionne said.
Speaking during a conference call today, Marchionne said “it would be improper” to say when Chrysler would return to profitability – a week before the company’s first board meeting.
Chrysler’s new board members will meet Monday and Tuesday in Auburn Hills next week to become more familiar with the company’s structure, employees and produces. The final board meeting will take place on Wednesday, July 19.
On a side note: Former Chrysler CEO Bob Nardelli started his new position at Cerberus earlier this week.
– By: Omar Rana