Date: 02-12-2008
Chrysler, the number three U.S. automaker, has unveiled its “Project Genesis,” a plan designed to thin out the company’s dealer ranks and shrink its product lineup of Jeep, Dodge, and Chrysler vehicles. Most of the dealers have expressed their support for the plan. Chrysler LLC vice-chairman Jim Press said Chrysler plans to invest billions of dollars in more efficient factories and products. The restructuring promises a reduction in product development and marketing costs for the company and savings on inventory costs for dealers, sources said. The company is reorganizing itself after a majority stake was sold to Cerberus Capital Management LP, a private equity firm, last summer.
