Operating loss of $300M at Chrysler

01/07/2008 18:35. “ysler LLC, closing plants as US sales tumble, had an operating loss of about $300 million in the first four months of the year, less than projected by” // Calgary Herald

01/07/2008 09:41. Chrysler, the third-largest US automaker, had an operating loss of about $US300 million in the first four months of the year, less than projected by owner Cerberus Capital Management, according to documents provided to investors.

Cerberus had forecast a deficit of about $US700 million, according to the report, presented at a June 12 meeting of the private-equity firm's investors. The analysis preceded the announcement of Chrysler's plans to close a minivan plant and cut a shift at a pickup factory because of declining sales.

''They have clearly been very, very aggressive on the cost fronts,'' said Mark Oline, automotive analyst at Fitch. ''The challenge is to keep cutting costs at the same pace and exceed the revenue declines.''

The documents also show Chrysler exceeding expectations... // Sydney Morning Herald