Chrysler Riding High with Billions in Profits

The Naysayers are Officially Back on Chrysler's Bandwagon

Only a year ago many automotive pontificators were suggesting that Chrysler Group's end was near, that its parent

Only a year ago many automotive pontificators were suggesting that Chrysler Group's end was near. (Photo: Trevor Hofmann, Canadian Auto Press)

DaimlerChrysler and highly influential older sibling Mercedes-Benz would soon tire of the "losing" American automaker and relieve themselves of the asset.

Of course such negative banter wasn't anything new in the auto sector and Chrysler Group not alone in having a league of doomsayers predicting its demise. Previously, such negative talk surrounded Mazda and Nissan, with all the knowledgeable scribes insisting that their secret inside sources, mixed with grand wisdom from years covering the automotive scene, gave them the insight to speak on the subject.

The reality is that such journalists might have done better getting their information from the mystic realm of crystal balls, or by discerning delicate placement of tea leaves rather than relying on their own

Chrysler Group delivered nine new products last year, all of which helped it to see a 1.4 billion euro ($1.9 billion) operating profit in 2004 (Photo: Trevor Hofmann, Canadian Auto Press)

experience, as few outside of the companies mentioned could have predicted their sudden rise back to profitability.

Chrysler Group delivered nine new products last year, all of which helped it to see a 1.4 billion euro ($1.9 billion) operating profit in 2004. This compares to an operating loss of 506 million euros ($637 million) in 2003.

Of course competition in the automaker's various sectors is always on the rise, but Chrysler Group CEO Dieter Zetsche is confident enough in the automaker's momentum that he remains faithful Chrysler Group will sell approximately 4 million vehicles annually by the end of the decade.