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Chrysler CEO sees $1.6 bln loss this year: report
NEW YORK (Reuters) - Chrysler LLC Chief Executive Robert Nardelli expects the automaker to lose $1.6 billion this year, the Wall Street Journal reported in its online edition, citing sources familiar with the matter.
Nardelli said the automaker's costs will exceed $64 billion, while revenue will fall shy of $63 billion, the Journal said, citing people who heard the CEO speak at a gathering of Chrysler engineers outside Detroit.
"Therefore, we will lose about $1.6 billion this year," the CEO said, according to the Journal.
Representatives of Chrysler could not immediately be reached for comment.
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On Monday, Chrysler's Vice President of U.S. Sales Darryl Jackson said the company will adjust its North American production schedule weekly in 2008 as the year "looks very tough."
Detroit's Big Three automakers -- Chrysler, General Motors Corp <GM.N> and Ford Motor <FCZ.N> Co <F.N> -- are bracing for industry-wide sales of roughly 16 million units this year, the lowest tally since 1998.
(Reporting by Justin Grant; Editing by Tomasz Janowski)
(Justin.Grant.reuters.com; 646-223-6000; Reuters Messaging: Justin.Grant.reuters.com@reuters.net)