Chrysler to unveil 5-year plan on Nov. 4, Marchionne says company can be profitable in 2 years

Chrysler CEO Sergio Marchionne is certain Chrysler can begin showing a profit in 2011, a view that is supported by a Morgan Stanley analyst.

According to the Detroit News, Adam Jonas with Morgan Stanley recently wrote a report indicating he believed the automaker would be showing a profit from operations as soon as 2010, though Chrysler would likely be in the red when it came to the bottom line. Jonas felt Chrysler would return to true profitability by the end of 2011.

This would work well with Marchionne’s goal of being able to offer stock in the company by 2011. This would be a boon, not only for Chrysler, but for the company’s current equity holders, including the United Auto Workers Voluntary Employee Beneficiary Association (VEBA) and the U.S. government.

Marchionne and his staff will present details of Chrysler’s current condition and its five-year plan on November 4. The Fiat CEO says Chrysler is not going through cash as quickly as some have estimated and praised Chrysler employees for their eye on cost controls.

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