Chrysler Boosts 2010 Outlook, Vows to "Fight Harder"

Chrysler Group LLC forecast an operating profit this year, thanks to cost cuts, but Chief Executive Sergio Marchionne said the automaker had to "fight harder" to revive its image and seize market share.

Chrysler projected a $700 million operating profit for 2010 after stripping out financing costs tied to its government-funded bankruptcy. It previously projected it would break even or earn $200 million on that basis.

Chrysler also pinned its 2010 revenue forecast at around $42 billion, in the middle of its earlier range of $40 billion to $45 billion.

Jesse Toprak, an industry analyst at TrueCar.com, said it was encouraging for Chrysler's longer-term turnaround that the automaker had managed to increase operating profit despite relatively high incentives and fleet sales.

Read Full Article from ABC News

- Posted: 2010-11-08 14:16:32

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