Word: chryslers
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...long can Detroit sustain itself when monthly sales numbers are this bad? The two bankrupt companies, Chrysler and General Motors, closed their assembly lines for much of May and June, which reduces their revenue substantially. Chrysler started up this week but will close again next week for summer changeovers. Both GM and Chrysler have built their recovery plans on very low sales estimates, which is the principal reason they have closed so many factories and discarded so many employees as they restructure. GM just announced plans to shed another 4,000 salaried employees by October, at which point it expects...
...marketing, says rental fleets are starting to look for replacements for worn-out vehicles. Rental fleets have kept cars in service longer than in the past, but they're going to have to pay more for replacements now because automakers have slashed assembly capacity. One of the reasons Chrysler sales have dropped so dramatically this year is that the company withdrew from the fleet business because it was unprofitable...
...Detroit's strategy of focusing on its profitable lines working? Neither GM nor Chrysler is profitable yet. Going forward, however, both companies' recovery plans call for concentrating on vehicles that promise an adequate return. They will continue to focus on their profitable lines, such as Chrysler's minivans and GM's pickup trucks. But both GM and Chrysler will be adding new, small cars to their lines by 2011, as they say they will make a profit on those vehicles with rising gasoline prices...
...days. (On July 5, Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York approved the sale of GM's assets to a government-run company.) Further, if a modest recovery in sales doesn't begin soon, the bailouts of both Chrysler and GM could fail. "Our situation is perilous," says GM's LaNeve...
...Justin Theel's car dealership, a sprawling campus on Interstate 94, the Dodges may be gone - troubles at Chrysler know no state boundaries - but sales this year are still off by only about 20 vehicles. That's a blip that dealers elsewhere would kill for. "For the most part, we're a boring story," says Theel. "But sometimes that's good...