SsangYong XIV-2 Concept Preview: 2012 Geneva Motor Show

Ferrari Confirmed For 2012 FIA GT1 World Championship

Rain Thwarts Final NHRA Qualifying At Pomona
2013 Lexus RX Leaked Ahead Of Geneva Motor Show Debut

Kia Teases New 2013 KH Flagship Sedan

2013 Porsche 911 Turbo Cabriolet Spy Shots
Bentley Continental GT V8 Flies Over Munich: Video

2014 Maserati Quattroporte Test-Mule Spy Shots

2012 BMW M6 Preview

No further sale of Chrysler says Cerberus boss

Alex Kaufmann

Author

LATEST ARTICLE
2010 Mercedes-Benz SLS AMG: First Drive
It's more than a half-century of progress by any measure: Ferrari's in its seventh decade, and the... Read More

N/ALEADERBOARD RANK
1093ARTICLES CONTRIBUTED
1COMMENTS POSTED

1,996 views July 13, 2007

No further sale of Chrysler says Cerberus boss

Cerberus boss John Snow has told reporters that there are no plans to sell the recently purchased Chrysler Group and that the troubled US auto industry is due for a turnaround soon. Snow also revealed that management were pleased with Chrysler CEO Tom LaSorda's recovery plan, which is expected to see positive profit levels return by 2009.

In charge of managing its acquisitions are 150 corporate managers, including former Volkswagen exec Wolfgang Bernhard, who has been assigned to look after Chrysler, reports the Associated Press.

Cerberus will pay up to $6.1 billion dollars for Chrysler and its financing division and an additional $1.4 billion to previous owner Daimler, and according to Snow, there are no immediate plans to make it a private company once again.