----- Forwarded by Calvin R Thudium/CARZ/DCC/DCX on 04/22/2010 01:36 PM -----
| scoop@chrysler.com 04/22/2010 11:44 AM |
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Media interest has been high for the Chrysler Group LLC financial reports and product plans discussed during the Fiat Investor Day on Wednesday, April 21.
In one story, analysts, like the following, voiced approval for stonger-than-exepected results:
"Chrysler posted revenues of $9.7 billion, meaningfully ahead of our $6.1 billion estimate. In addition, Chrysler generated $143 million of operating profit versus our estimate of a $72 million loss." (Brian Johnson of Barclays Capital)
"Fiat-Chrysler deserves a lot of credit for the progress made so far. It was questionable whether they'd survive 2010, but now the company seems to be on track." (Michelle Krebs of Edmunds.com)
"The first-quarter figures -- not the 2009 results -- are what's important. To say they were in transition is an understatement. What matters is their market share and the timeline for new products and if they are making money now." (Van Conway, of turnaround specialist Conway MacKenzie Inc)
Another story outlines Fiat SpA's plans to spin off its industrial holdings from its automotive operations, in a bold move that relies heavily on its partnership with Chrysler Group LLC to succeed. According to the story, that bodes well for Chrysler's future and may silence skeptics convinced that Fiat is not in the partnership for the long haul. "People at Chrysler should be very excited," Aleks Miziolek, director of the auto industry group of Dykema PLLC told the Detroit News, calling it a serious play by Fiat to grow its Chrysler partnership into a global company.
Other coverage from Wednesday's meeting can be found in the special "Fiat Investor Day" section of The Scoop found on the right-hand side of the home page.
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