Chrysler to repay TARP but not DoE by 2014
Expectations are for units sold to more than double from 1.3 million in 2009 to 2.8 million in 2014. All brands are seen as growing, particularly Jeep and Chrysler (which sell fewer vehicles now, and are projected to double their sales). US market share is expected to go from less than 9% in 2009 to over 13% in 2014. Dodge is focused on repositioning rather than growth. Retail expense per unit will double to support the repositioning of the brands. Chrysler is to break even by 2010 (operational) and by 2011 (net). All loans are to be paid by the end of 2014. Product spending are to average $4.5 billion per year with $23 billion overall (Capex of $15 billion). There would still be $2 billion of DoE debt at the end of 2014. $2.3 billion in loans have not been drawn. Shipments are to be adjusted by 600,000 vehicles per year partly by restocking dealers and partly by resuming fleet sales.
More details and updates are on the Five Year Plan page.
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