Marchionne: Chrysler could pass $3 billion operating profit in 2012

Sergio Marchionne

Chrysler CEO Sergio Marchionne believes that the Auburn Hills automaker could pass a $3 billion operating profit in 2012, following a strong first half of the year.

“Chrysler sold 1.23 million cars in the first half, which is over half of our target,” Marchionne said at a press conference. “The objective of $3 billion is close at hand. We could overshoot it.”

Separately, Marchionne said that if Chrysler wants to make more than 2.8 million cars in the United States, the company will have to seek more production capacity.

When questioned when Fiat will buy the rest of Chrysler, he said he ‘sees no reason’ not to continue gradually buying up the stake up to 2016. Marchionne said that waiting until 2016 could be too long and that the rest of the stake could be bought with cash.

– By: Omar Rana

Source: AutoNews