Chrysler projects profitability by 2012: Report

May 5th, 2009 - 4:46 am ICT by IANS  

Washington, May 5 (DPA) Ailing car maker Chrysler, the US’ third largest, projects it will be back in the black by 2012 if it gets through bankruptcy quick enough and seals its deal with Italy’s Fiat, the Wall Street Journal reported Monday.
The journal cited documents filed in a Manhattan bankruptcy court, Chrysler’s last resort after failing to prove to the US government that it was financially viable.

The company lost $16.8 billion in 2008 and expects to lose $4.7 billion in 2009, the documents showed.

In the court documents, Chrysler said it expected to earn $100 million in 2012; $1.6 billion in 2013; and $3 billion by 2016.

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