P&A Providers & Administrators
MenuMENU
SearchSEARCH

One Year Later, Chrysler Sees Progress

June 11, 2010
2 min to read


DETROIT - One year after Chrysler Group LLC's government-funded exit from bankruptcy protection, CEO Sergio Marchionne is telling employees that the company has made progress but still has a long way to go.


In a Friday e-mail to employees obtained by The Associated Press, Marchionne touted Chrysler's progress in its first year as a new company but said it is far from full recovery.

Ad Loading...


"The one-year anniversary is a significant milestone," Marchionne wrote to the company's 49,000 workers. "There is still a very long road ahead in our drive to rebuild our business and to deliver on our promises to repay the American and Canadian taxpayers who gave us a second chance."


Marchionne, who also heads Italy's Fiat SpA, was given control of the automaker by the U.S. government when Chrysler emerged from bankruptcy on June 10, 2009. The company would have run out of cash and been sold off in pieces without roughly $15 billion in aid from the U.S. and Canadian governments.


He pointed to a $143 million first-quarter operating profit, two straight months of sales gains, cost savings from integration with Fiat, and plans for 16 new or updated vehicles by the end of this year.


"Crisis can bring out the best in a company and its people," Marchionne wrote.


Chrysler's sales growth in the U.S., its primary market, have lagged behind industry gains through the year. Through May, its sales were up 7.9 percent, far behind the industrywide gain of 17.2 percent, according to Autodata Corp. May sales rose 33 percent, but one-third of that was low-profit sales to fleet buyers such as rental car companies.

Ad Loading...


Chrysler also has struggled with quality problems, perennially getting low rankings from J.D. Power and Associates and Consumer Reports magazine.


Although Chrysler reported a first-quarter operating profit, it still posted a net loss of $197 million including interest and taxes.


The automaker plans to begin repaying the U.S., Canadian and Ontario governments starting next year, with full repayment in 2014.

More Industry

Smiling man working on a new car in a Honda manufacturing plant
Industry•by Hannah Mitchell•November 10, 2026

Honda Embraces Hybrid Fever

The automaker plans a new Ohio factory, along with investments in existing U.S. and Canadian plants, to significantly boost hybrid production here.

Read More →
Magnifying glass emphasizing the words “Social and Search” with various social media platform logos surrounding it.
Industry•by Lauren Lawrence•November 10, 2026

Dealerships Must Show Up Where It Matters

How car buyers find your dealership has fundamentally changed. New evidence reveals the importance of your presence on social media, Google search, and large language models.

Read More →
Line of like-new vehicles in outdoor lot
Industry•by Hannah Mitchell•November 3, 2026

CPO Sales Could Take Off in the Right Conditions

A recent Cox Automotive consumer survey reveals the size of an undertapped market for the vehicle segment given affordability pressures.

Read More →
Ad Loading...
Small black toy car on top of a map.
Industry•by Lauren Lawrence•November 3, 2026

Global Consumer Trends Diverge

Price remains a top consideration for U.S. car buyers, and they are the most brand-loyal consumers to established automakers, according to a new survey.

Read More →
Two men and one woman standing in front of blue walled Chevrolet dealership entrance.
Industry•by Hannah Mitchell•October 27, 2026

Badger State Dealership Gets New Owner

The longtime southern Wisconsin store moved from one area auto group to another, keeping the business in Dairyland.

Read More →
Two hands, one handing off set of keys to the other.
Industry•by Lauren Lawrence•October 27, 2026

The Cycle of Negative Equity

Third-quarter data shows consumers still rolling over debt and stretching loan terms, raising their risk of remaining underwater.

Read More →
Ad Loading...
Orange electric vehicle charging station.
Industry•by Lauren Lawrence•October 20, 2026

Charger Network Growth Slows

Despite a projected increase in public EV chargers in 2026, charging infrastructure remains a top concern for consumers as the gap between the most and least EV-friendly places remains substantial.

Read More →
Fan of $100 bills atop a white envelope
Industry•by Hannah Mitchell•October 13, 2026

Lenders, Consumers Take on More Auto Loan Risk

September records loosened credit access the most in over a decade as buyers took advantage of the conditions to afford trading, though loan applications fell.

Read More →
Red type R Honda civic parked on road.
Industry•by Lauren Lawrence•October 13, 2026

Next-Gen Hybrids in Sight

Dealerships can expect to see revamped hybrids from Honda next year as the company rolls out a new system and model lineup.

Read More →
Ad Loading...
Dodge ram emblem on orange vehicle exterior
Industry•by Hannah Mitchell•October 6, 2026

Gem State Stores Change Hands

A larger auto group founded in the industry’s early years sold two franchises to a neighbor group that's on a growth spurt.

Read More →