http://money.cnn.com/2009/09/16/autos/fiat_chrysler/
The situation at recently rescued Chrysler Group is even more dire than first thought, the CEO of Italy's Fiat -- which came to the aid of the U.S. automaker -- said Wednesday.
"We were surprised by how little had been done in the past 24 months," Sergio Marchionne told reporters in Frankfurt, Germany.
Chrysler will present a revised business plan in November, Marchionne told reporters.
Industry analyst Todd Turner of Car Concepts Automotive Research, speaking from the floor of the Frankfurt Motor Show, found it difficult to believe Marchionne's assertion that he didn't know how little work had been going on at Chrysler.
"I'm a little surprised that he was surprised," he said.
More likely, Turner said, Marchionne is laying the groundwork for drastic actions that will be announced in November but may have been planned all along.
"That is that Chrysler is over, basically," he said of Chrysler's flagship car brand. "Within five years, you're going to see nothing."