Jeremiah 29:11

Chrysler US sales slip 3 percent in 2007

5 hours ago

CHICAGO (AFP) — Chrysler LLC reported a three percent drop in 2007 US auto sales Thursday amid broader industry weakness and planned reduction in low-profit sales to rental car companies.

The struggling automaker, which last week said it was on track to "exceed" its multi-year restructuring and recovery plan despite being "operationally bankrupt," expressed confidence for 2008.

"We're thankful to our customers for the response they've shown to our products," said Steven Landry, executive vice president for North American sales.

Landry said Chrysler has gained momentum from a strong December, when sales grew by one percent to 191,423 vehicles.

"With new models, bold designs and fuel efficient alternatives, we're excited about the products like the Dodge Journey, Challenger and Ram, and the launch of two new SUV hybrids... and believe we're well positioned for 2008," Landry said.
Total sales fell to 2,076,650 vehicles from 2,142,505 in 2006. Car sales rose six percent to 539,603 units while truck sales fell six percent to 1,537,047 in 2007

kramtrah

I guess this is better than the anticipated 7% drop that the Associated Press thought was gonna be stated. Even better, they are now private and no longer have to report this stuff, but I think they are confident in the "new" Chrysler and feel good enough to publish the numbers.

Albeeno

Chrysler offers buyouts to hourly Detroit workers By Ben Klayman

1 hour, 38 minutes ago

DETROIT (Reuters) - Chrysler LLC said on Monday it is offering buyouts of up to $100,000 each to hourly workers at 12 of its Detroit-area facilities as part of its November plan to eliminate up to 10,000 unionized jobs.

The offer will be extended to about 14,000 workers represented by the United Auto Workers union at the plants which make cars, engines, axles and other parts, Chrysler spokeswoman Michele Tinson said. About 4,600 can opt for a more attractive retirement package.

The buyouts could be extended to a 13th plant in Warren, Michigan, which was idled this week, and the automaker is in talks with the UAW to extend them to eight other U.S. plants, she said. The same offer was made earlier this year to hourly workers at plants in Belvidere, Illinois; Toledo, Ohio; and St. Louis, Missouri.

General Motors Corp and Ford Motor Co said earlier in January that they had launched buyouts for UAW-represented hourly workers in North America.

GM's buyout offers cover about 46,000 workers, while Ford said it would offer buyouts to all 54,000 UAW hourly workers. Ford did not announce a target for the buyouts but has nearly 12,000 retirement-eligible U.S. factory workers.

Industry analysts expect the U.S. auto sector to experience another down year in 2008 -- with one investor predicting a possible 15-year sales low. Top U.S. auto executives have said they would not hesitate to further adjust restructuring plans as needed if the market weakened further.

In November, Chrysler, which private equity firm Cerberus Capital Management took over in August, said it would cut up to 10,000 hourly jobs over the next 14 months as it moved to slash North American production.

The cuts were in addition to 13,000 jobs Chrysler had already planned to eliminate as part of a restructuring plan announced in February. Combined, the two announcements represented almost half its unionized factory positions.

Chrysler said in November it would also cut 1,000 salaried jobs and eliminate almost 40 percent of its white-collar contract positions.

Cerberus took control of Chrysler in a $7.4 billion deal. Daimler AG retains a nearly 20 percent stake in the U.S. automaker.

The Chrysler offers run through February 18, Tinson said. The buyout includes a lump-sum payment of $100,000 and six months of health benefits, while the retirement package includes a lump-sum payment of $70,000 as well as better pension and health-care benefits.

(Reporting by Ben Klayman; Editing by Mark Porter/Derek Caney)

RLSH700

Not bad when you consider how expensive gas is and the fact that many of the updated models are not as good as the previous models (Liberty).

DSkippy

And the Sebring...

RLSH700

Well, I was talking about the trucks primarily. I think that it is a good sign that they didn't drop more in sales than they have. The Sebring has to be one of the best example of what is wrong with Chrysler's thinking "let's take the styling of a car that isn't selling and add it to another model. It didn't sell because people hated it. It didn't sell because the customers are stupid and they will get smarter one we base all of our cars off of its styling."