Speaking to the press at the 2009 Frankfurt Motor Show, Chrysler Group and Fiat SpA CEO, Sergio Marchionne, said that Chrysler was in worse shape than he thought. He said that restructuring Chrysler was a slow process and more difficult than he initially thought; however, he said he sees significant improvements coming in 2010.

Marchionne said that Fiat will achieve its target of selling 5.5 million to 6 million vehicles with Chrysler. As of right now, Fiat and Chrysler have combined total sales of 4.2 million units.

“We have to be absolutely clear about what we want to do with Chrysler and as a management team, where the organization is going to be in five years,” Marchionne said.

Marchionne said that a 5-year business plan is due by the end of Nov. and will outline numbers and the path out of the company’s current difficulties, reports Automotive News.

“We will share significant milestones, numbers and we will show how we’re going to come out of this. This is a big issue and we’re working really hard,” he said.

- By: Stephen Calogea