Even though Chrysler posted a loss of nearly $2 billion for the first three months of 2007, the $7.4 billion purchase by Cerberus Capital Management should generate enough cash for the company to recover and restructure. Now known as Chrysler Holdings after being purchased by the private equity firm, Chrysler has become the first privately held company out of the big three.
“As a private company, Chrysler will be better positioned to focus on its long-term plan for recovery, rather than just short-term results,” said Chrysler CEO Tom LaSorda at a press conference held yesterday.
According to Chrysler’s spokesman Rick Deneau, Chrysler expects to continue investing in the development of future products as previously planned. Despite slashing seven vehicles off the company’s 32 model lineup, Chrysler is planning to introduce 20 new vehicles and expects 13 major facelifts by the end of 2009.
That leaves us to dream of two of our favorite Chrysler concepts, the Chrysler Imperial, which debuted at the Detroit Auto Show in 2006 and the Dodge Demon Roadster concept which debut at the 2007 NAIAS.
Currently in the pipline are the Dodge Challenger, the fifth generation Chrysler minivan, a Sebring/Avenger-based crossover and the next generation Ram pickup.
[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Chrysler[/tags]