Although Chrysler ’s sales have been dropping by double-digit percentages over the last few months, Chrysler CEO Bob Nardelli says that Cerberus is not “second guessing” its decision to purchase the Michigan-based automaker and that business is actually ahead of schedule.
Despite Chrysler’s sales falling by 25.4 percent in May and 19.3 percent on the year, Nardelli is optimistic about the company’s progress and its future. “We are guarded but optimistic,” Nardelli told Automotive News. “We are very encouraged in what we have accomplished.”
Nardelli even said that he expects Chrysler to still be operating independently in three years as there are “clear advantages” to running the company under private ownership. Cerberus Capital Management LP purchased an 80.1 percent stake in Chrysler last August for $7.4 billion.
Nardelli added that Chrysler has no plans to sell its Jeep brand, but that Chrysler “may have to go back and resize” its production operations.
