Chrysler Miracle, Newsweek magazine, June 5

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 Chrysler’s comeback is of its
      own making, the company is also benefiting from good fortune, the
      article said. As industry expert David Cole points out, Chrysler’s
      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
      remain—from 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 “to bring about, in the
      shortest possible time, the birth of a single group” with Fiat and
      Chrysler, the magazine said.