Business News - Chrysler wins over a key executive

ArcaMax Publishing > Business News

Your email address is safe with us. View our Privacy policy.

Free Financial Tools:

Start planning your financial future with our free financial tools & calculators.

The Funnies:

Get free jokes, comics, and more! See them all on
our funnies page

Games:

Fun online games, quizzes, hangman and more on the games page

Chrysler wins over a key executive

AUBURN HILLS, Mich. (UPI) -- The head of the largest U.S. auto dealership group, Mike Jackson, said he was confident in Chrysler Group's ability to make a comeback.

Chrysler sales fell 30 percent in October compared to October 2008. This week, however, the automaker revealed its five-year plan, which Jackson, chief executive officer of AutoNation Inc. embraced, the Detroit Free Press reported Friday.

"My main concern was if you stress-test it (the five-year plan), can they get through disruptions over the next year or two? I now believe they can," Jackson said.

AutoNation will now be "on the hunt for acquisitions" of more Chrysler, Jeep and Dodge dealerships, he said.

Chrysler fell into bankruptcy this summer and emerged controlled by Fiat SpA under the leadership of CEO Sergio Marchionne.

Jackson described his first impression of the Chrysler's new CEO.

"He's got a little office, one step up from a cubicle. He comes up to me wearing a tennis shirt with a backpack slung over his shoulder. I thought to myself, 'This is going to be magic or tragic,'" Jackson said.

Copyright 2009 by United Press International

This news arrived on: 11/06/2009

Share this Story