Marchionne says "Probably 2011" on Chrysler IPO, wants GM to go first
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]
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