Chrysler Outlines Shrink to Fit Strategy

12 February 2008

DETROIT: Struggling Chrysler Group has unveiled Project Genesis, on which it pins its hopes for emerging from the red in the sluggish US auto market.

The strategy aims to shrink the company's current 3,600 dealerships to a much smaller (but unspecified) number. These retailers will represent all three brands - Chrysler, Jeep and Dodge.

In addition, the automaker, now owned by private equity group Cerberus Capital Management, is to trim the number of models it produces, reducing development and marketing costs.

Comments vice-chairman Jim Press: "We've got to face reality. If we get our overheads and our capacity in line, we really have a strong future."

Data sourced from Financial Times Online; additional content by WARC staff