Plans for an initial public offering of Chrysler stock could be delayed until next year, Sergio Marchionne, the CEO of both Chrysler and its Italian partner Fiat now says.
Speaking to reporters during a visit to his hometown in Italy, Marchionne cautioned that he doesn’t know if work on the planned IPO can be completed before the North American International Auto Show in Detroit next January.
An IPO is “technically possible” in 2013 though it is increasingly likely to require waiting until 2014, according to the CEO. And that’s if one takes place at all. Though Marchionne initially expressed interest in offering Chrysler shares after Fiat came to the rescue of the U.S. automaker in 2009, he has since shied away from that approach, indicating a preference for having Chrysler completely taken over by its European ally.