Chrysler records $637 million loss for 2003 - Tilted Forum Project Discussion Community

Spyder_Venom · 03-02-2004, 12:11 PM

Chrysler made money in the final three months of 2003 but not enough to lift the Auburn Hills-based automaker to a full-year profit.

Chrysler, a unit of DaimlerChrysler AG, blamed expensive incentives, costs related to its ongoing turnaround and lower sales for a $637 million operating loss in 2003, swinging from $640 million in profits in 2002.

For the fourth quarter, Chrysler reported a $180 million operating profit, up from $81 million in 2002, but could not overcome a $1.1 billion loss during the second quarter that was mainly related to costly rebates and low-rate loan offers.

Chrysler was also weighed down by $591 million in restructuring charges related to its turnaround plan announced in 2001. Chrysler has laid off more than 30,000 workers and has closed or sold several plants. Without the charges, Chrysler lost $47 million.

http://www.detnews.com/2004/autosins...utos-69169.htm

merkerguitars · 03-02-2004, 09:54 PM

For some reason that doesn't suprise me...

03-02-2004, 12:11 PM	#1 (permalink)
Spyder_Venom Psycho Location: MN	Chrysler records $637 million loss for 2003 Chrysler made money in the final three months of 2003 but not enough to lift the Auburn Hills-based automaker to a full-year profit. Chrysler, a unit of DaimlerChrysler AG, blamed expensive incentives, costs related to its ongoing turnaround and lower sales for a $637 million operating loss in 2003, swinging from $640 million in profits in 2002. For the fourth quarter, Chrysler reported a $180 million operating profit, up from $81 million in 2002, but could not overcome a $1.1 billion loss during the second quarter that was mainly related to costly rebates and low-rate loan offers. Chrysler was also weighed down by $591 million in restructuring charges related to its turnaround plan announced in 2001. Chrysler has laid off more than 30,000 workers and has closed or sold several plants. Without the charges, Chrysler lost $47 million. http://www.detnews.com/2004/autosins...utos-69169.htm __________________ The local track whore

03-02-2004, 09:54 PM	#2 (permalink)
merkerguitars Buffering......... Location: Wisconsin...	For some reason that doesn't suprise me... __________________ Donate now! Ask me How! Please use the search function it is your friend. Look at my mustang please feel free to comment! http://www.tfproject.org/tfp/showthread.php?t=26985