- Oct 27, 2006
Scratch that: Chrysler Group definitely not for sale... maybe
When speaking on behalf of a group, it's in everyone's best interest to have a common 'message' agreed upon before addressing others. This didn't seem to be the case yesterday, when rumors of DaimlerChrysler selling their latter, less profitable, half began circulating.
DaimlerChrysler's CFO, Bobo Uebber was quoted during a conference call saying that, "We need to safeguard sustainable profitability for the Chrysler Group and for Daimler-Chrysler. We don't exclude anything here."
As the day wore on, media speculation grew along with the automaker's stock price, prompting a statement from Hartmut Schick, Senior VP of Corporate Communications, which said in no uncertain terms that Chrysler is "not for sale."
The Auburn-Hills, MI-based group expressed its dissatisfaction with the results as well, but not quite as drastically as the comments made from Germany. Chrysler's CEO, Tom LaSorda made it clear that, although the third-quarter results were unacceptable, changes will be made to address inventory gluts and to lower costs.
[Source: Detroit News]
Read the press release after the jump.