Chrysler CEO Says Automaker Will Break Even in 2004

New Chrysler Vehicles Feature Premium Quality without Premium Price

According to the Reuters news agency, Chrysler Group is expected to break even in 2004 and possibly even see a small profit.

The news came Monday when Chrysler Group CEO Dieter Zetsche spoke candidly in an interview with Italys Il Sole 24 Ore newspaper. In the news story Zetsche also stated the automaker was targeting a single percentage of the European car market within the next three years from its nominal 0.7 percent currently.

"I believe 2004 will be a positive year for us and I expect to break even or make a small profit, even with our restructuring costs," Zetsche stated.

Chrysler Group, which sells vehicles under the Chrysler badge as well as Jeep and Dodge, was unable to reach its target to break even last year resulting in an operating loss of $624.8 million. To be fair, this loss included $579.1 million of restructuring costs.

Zetsche should feel bullish considering the higher quality products coming out of Chrysler Group plants as of late. While still not considered a premium brand Chryslers Pacifica crossover SUV, Crossfire coupe and roadster sports cars and new 300 series sedan have all the markings of top-tier players without the usual associated unreachable prices.

The upcoming Dodge Magnum sport wagon shares the 300 sedans architecture, as well as its top-line cylinder-deactivated 340-hp HEMI V8 with 390 lb-ft of torque, joining ranks with the already strong selling Ram pickup, a recently introduced updated Durango SUV and soon to arrive all-new Dakota pickup, among others.

The Jeep brand will introduce a refreshed Liberty as well as an all-new Grand Cherokee later in the year, with talk of a non-trail-rated model similar conceptually to the Compass concept introduced two years ago, and possibly even a Hummer H1 fighting Jeep Rescue in the plans.