CHRYSLER UNLIKELY TO MAKE A NET PROFIT IN 2010

Chrysler CEO Sergio Marchionne thinks it will be “difficult” to make a net profit in 2010. Marchionne offered no guidance about Chrysler’s financial performance for either the third or fourth quarter of the year. He said that Chrysler would have to wait to 2011 to return to net profit. More generally he said he was “satisfied” about the company’s performance and that the car maker is “well ahead of plan” for its turnaround after the bankruptcy. “We’re ahead of plan,” Marchionne told reporters after Vice President Joe Biden addressed car workers at a Chrysler plant in Toledo that makes Jeep Wranglers. “We are delivering on everything we said. We are doing it quietly, keeping our head down.”