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Chrysler Readies for IPO With Lower Sales Hurdle to Break Even
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Chrysler Group LLC, the U.S. automaker operated by Fiat SpA, said it can be profitable with fewer sales than it had in 2010 as the closely held company prepares for an initial public offering this year.
Chrysler needs to sell about 1.5 million vehicles annually to break even on an operating basis, down from 1.65 million, Chief Executive Officer Sergio Marchionne said yesterday in the prepared text of a speech in Detroit. Global sales in 2010 rose about 21 percent to 1.6 million cars and trucks, he said.