Group is stepping in line with Ford
today, which earlier announced more buyouts for Blue Oval workers, plant closings and that it won't see a profit in North America until 2009 at the earliest, to announce that it has increased the amount it expects to lose in the third quarter by almost $1 billion to a total of $1.5 billion. Citing a laundry list of reasons mirroring those that also caught Ford by surprise, including high fuel prices, lack of a competitive small vehicle lineup and high legacy costs, Chrysler states that it will take the hit this quarter but is "striving" to achieve a profit in Q4. The automaker will have eight new vehicles
out by year's end to help achieve that aim, including the new Dodge Caliber
, Jeep Patriot
, and Chrysler Sebring
. We wish 'em the best of luck.