Chrysler Group LLC and its new masters from Fiat are now planning to present a new “five-year” plan during the first week in November, according to a note circulated by the automaker. The date picked for outlining Fiat’s plans comes about one-year after the company faced up to the deep financial crisis that eventually forced it into the bankruptcy.
Despite a drastic restructuring over the past year, Chrysler’s margin for financial maneuver remains slender at best, since it got far less from the U.S. Treasury than General Motors. Moreover, the current numbers are daunting — Chrysler will build fewer than 900,000 vehicles this year, even that’s a stretch, and its market share continues to tumble. Known forever as the “Number Three” Automaker behind Ford and GM, Chrysler has now been lapped by Toyota, and Honda and Nissan are closing in fast.
“Chrysler is facing a very difficult couple of years,” said one analyst. “They just don’t have any product,” he said.