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LaSorda: Chrysler dealers 'ordering again'

May 23, 2007 at 7:57 PM   |   Comments

AUBURN HILLS, Mich., May 23 (UPI) -- Dealers are ordering Chrysler vehicles again, Chief Executive Officer Tom LaSorda said at a "town meeting" with workers at the U.S. automaker's headquarters.

"It's Chrysler Corp. again, back in American hands again," LaSorda said, referring to last week's $7.4 billion sale of the automaker to U.S. private-equity firm Cerberus Capital Management LP.

"The dealerships -- they're ordering again, which is kind of nice," the executive said in an audio excerpt Chrysler released Wednesday. "Their inventory levels from this time last year are down by about 110,000 units.

"We're a little happier, and we're going to keep it there and keep rolling," he said.

LaSorda reiterated that Cerberus had no plans to split up Chrysler or its brands, and that the automaker would make full use of the resources of former parent Daimler AG, which agreed to retain a 19.9 percent stake in the new Chrysler Holding LLC, The Detroit News reported.

The restructuring plan Chrysler announced in February is still its "road map" to recovery, LaSorda said.

He reminded workers he was a fourth-generation company employee and said he would make Chrysler "strong for the next generation."

Topics: Tom LaSorda
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