DaimlerChrysler AG says it won't rule out anything, including a potential sale of assets, spin-off or additional strategic partners, as it reviews operations at Chrysler Group, a task it doesn't expect to complete until early next year.
“We don't exclude anything,” finance head Bodo Uebber says in a conference call detailing the auto maker's third-quarter results. “We have to safeguard Chrysler and DaimlerChrysler for a sustainable profitability.”
Uebber says internal executive teams are examining seven key areas in an attempt to right operations at Chrysler, including product strategy, fixed costs, capacity utilization, material costs and quality.
After rampant speculation, DC announced it is not considering an outright sale of Chrysler Group.
Chrysler was a drag on DC's earnings in the third quarter, as the U.S. arm dipped $1.5 billion into the red, more than offsetting a strong showing by the Mercedes Car Group. Overall, DC posted net earnings of $686 million in the third quarter.
Meanwhile, Ford Motor Co. says it lost $5.8 billion in the third-quarter, compared with $529 million in operating income for General Motors Corp.