DETROIT, March 11 (UPI) -- The new chief operating officer for Chrysler Group says the bulk of the company's massive restructuring plan rests on an old savior: the minivan.
Chrysler's transformation began three years ago, but the company continues to put much of its fate on the minivan, a product that saved the company from bankruptcy more than 20 years ago.
Production of Chrysler's 2005 minivans has reached 41,000 at Chrysler's Windsor, Ontario, plant, the Detroit Free Press reported. Tom LaSorda, who will take over May 1 as the chief operating officer for Chrysler Group, told the Free Press the Windsor plant is running on maximum overtime to meet demand.
He predicted the new minivans, which have the new Stow 'N' Go folding seats that fold flat into the floor, will bolster Chrysler's sales despite stiff competition in the market.
LaSorda, who is currently executive vice president of manufacturing for Chrysler Group, said the bulk of company's restructuring is done.
Chrysler rushed to get a new minivan to the market in just 15 months, and priced the vehicle 15 percent lower than the competition.