Everyone is watching General Motors CEO Ed Whitacre, Jr. to see what he'll be able to pull of this year with respect to his plans, including a possible IPO. Count Chrysler CEO Sergio Marchionne among the interested. While the Fiat 500's introduction will likely result in Fiat upping its Chrysler stake to 25 percent, when it comes to a Chrysler IPO, Marchionne is thinking 2011, and he wants GM to go first, according to Automotive News.
Marchionne feels there's enough investor interest for both GM and Chrylser IPOs, but said, "Let him go, he's been itching to go," in reference to Whitacre wanting a GM IPO as soon as this year. Chrysler has good reason to wait. It's arguably further behind than GM in its turnaround, and whereas GM has the Volt to make a potential shareholder splash in 2010, Chrysler's product fireworks won't really start booming until next year.
For now, Chrysler milestones are being reached ahead of schedule and things in Auburn Hills are going well enough to get Marchionne to say, "May is "turning out to be a good month." A Chrysler IPO is obviously desired, but based on Marchionne's latest statements, it remains in the distance.
[Source: Automotive News – sub req'd]