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Firm likely to break even in '08, make profit in '09

DETROIT - Chrysler LLC is likely to lose $1 billion this year as its new leadership tries to cut costs and streamline the automaker's model lineup, but it's poised to break even next year and make money in 2009 and 2010, according to a top sales executive.

The automaker, he said, will take in about $64 billion in revenue this year, but it will spend about $65 billion. "You have to come to the realization that in some instances, you've got to stop spending," he said.

He also said the company plans to "right size" itself and reduce its model lineup from 28 to around 20 while focusing on top-quality interiors, according to the Daily News of Halifax.

More here:
toledoblade.com -- Chrysler exec tags year's loss at $1B
 
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