Chrysler cutting output by 135,000 units

Chrysler is striving hard to be profitable in the fourth quarter, especially after it announced last week that its Q3 performance would be in the red to the tune of $1.5 billion. To that end, Chrysler will be cutting its Q3 production by 90,000 units and Q4 production by 45,000 for a total 135,000 unit drop in second half production. The idea here is to relieve some of the pressure on dealers to move inventory when more and more new models are being delivered. The company expects the cuts to be temporary and for production to rise in again in 2007, though only time will tell if that's a good move. We're waiting for official word from Chrysler on this in the form of a press release, which we'll convey to you if there's any new information.
[Source: Reuters]