The Chrysler Miracle, Newsweek magazine, June 5
o Chrysler stands out as an improbable bright spot in a
still-struggling U.S. economy, Newsweek magazine said. Not only is
the company showing faster sales growth than its rivals, but paying
back its $7.6 billion in U.S. and Canadian loans well ahead of
schedule, Newsweek said. While much of Chryslerâs comeback is of its
own making, the company is also benefiting from good fortune, the
article said. As industry expert David Cole points out, Chryslerâs
lower costs post-bankruptcy and favorable currency valuations now
give the company a couple-thousand-dollar price advantage over
Japanese and European competitors, the article said. Challenges
remainâfrom rising gas prices, expiring UAW labor contracts, and the
urgent need for Chrysler to introduce an appealing, thrifty, small
car, the article said. But CEO Sergio Marchionne has achieved
head-snapping acceleration toward his goal âto bring about, in the
shortest possible time, the birth of a single groupâ with Fiat and
Chrysler, the magazine said.
Tuesday, June 7, 2011
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