NEW YORK (CNNMoney.com) -- Fiat Group will soon unveil its plans to help get the struggling Chrysler Group back on track. But the question that won't be answered is whether these changes will come in time to save the company.
The Chrysler Sebring, one of the car models that could be phased out under Chrysler's new turnaround plan.The Italian automaker, which now owns a controlling minority stake in Chrysler, is expected to announce Wednesday which Fiat models it intends to make available in the U.S. It also will disclose which Chrysler, Dodge or Jeep vehicles will be phased out.For the sake of Fiat, as well as the union trust funds and U.S. taxpayers who own most of the rest of the company, the plan had better work.
But experts say that unlike rival Ford Motor F, Fortune 500, which reported a surprise profit of nearly $1 billion the third quarter, Chrysler has a relatively empty product pipeline for the next two years. That, coupled with slim cash resources, make a return to profitability for Chrysler very unlikely.
"Unfortunately, it's a race against time," said Michael Robinet, vice president of global vehicle forecasts for auto consultant CSM Worldwide. "I think what they're announcing is a starting point, but many more changes will be required going forward."
Chrysler was king of the hill with its 300 series just a few years ago. Oh how the mighty have fallen.
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