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Chrysler LLC is planning to improve the content and lower the price on 12 of its vehicles as part of a marketing campaign it plans to unveil next month, Vice Chairman and President Jim Press said Monday at the North American International Auto Show.
The Jeep Compass, Jeep Patriot and Dodge Caliber are among the vehicles that will get the treatment, but Press wouldn't give further details. He said the plan will be revealed to dealers at the National Automobile Dealers Association convention in February.
Press said Chrysler has already made 260 upgrades to its vehicles, mostly improvements in materials and appearance. That was part of a $150 million investment in existing products, he said.
"Over time you'll see an evolution to much stronger interior packages," he said.
Press said the company is in good shape despite a $1.6 billion loss in 2007. He said Chrysler has met the internal goals of its new owner, the private equity firm Cerberus Capital Management LP, and has plenty of cash on hand. He pointed out that Chrysler didn't lose any U.S. market share in 2007 even though U.S. sales were down, although he said that could change in 2008 as the company cuts low-profit sales to rental fleets.
"The bones are good," he said. "In a worst-case kind of environment, before there were any remedies applied, the company held its own."
Chrysler will cut prices
The Jeep Compass, Jeep Patriot and Dodge Caliber are among the vehicles that will get the treatment, but Press wouldn't give further details. He said the plan will be revealed to dealers at the National Automobile Dealers Association convention in February.
Press said Chrysler has already made 260 upgrades to its vehicles, mostly improvements in materials and appearance. That was part of a $150 million investment in existing products, he said.
"Over time you'll see an evolution to much stronger interior packages," he said.
Press said the company is in good shape despite a $1.6 billion loss in 2007. He said Chrysler has met the internal goals of its new owner, the private equity firm Cerberus Capital Management LP, and has plenty of cash on hand. He pointed out that Chrysler didn't lose any U.S. market share in 2007 even though U.S. sales were down, although he said that could change in 2008 as the company cuts low-profit sales to rental fleets.
"The bones are good," he said. "In a worst-case kind of environment, before there were any remedies applied, the company held its own."
Chrysler will cut prices
