Chrysler sales in the U.S. have already dropped 15.5% in the first three months of the year and a similar story can be told for a number of other carmakers including both foreign and domestic makes. Speaking with The Detroit News, Nardelli said he doesn’t expect a second-half recovery.
Earlier this week reports emerged claiming Chrysler could have lost more than $6.8 billion in 2007. In response, Nardelli explained that is making progress toward its goal of achieving profitability and is on track to deliver a positive cash flow. Nardelli has previously stated Chrysler would remain unprofitable this year and before that he said the carmaker would only return to profitability in three years’ time.