After putting the foundation in place for a turnaround, following its June 2009 exit from bankruptcy, Chrysler’s CEO Sergio Marchionne says the company is on track for an initial public offering next year.
As sales across the automotive industry appear to be rebounding, Chrysler is also feeling the effects of a recovering economy. While in Toronto yesterday, Marchionne told reporters that May is “turning out to be a good month,” signaling his confidence in his company’s direction and in the direction of the industry.
General Motors is also expected to begin selling shares by next year, but Marchionne believes there will be plenty of interested investors for both automakers.
“I think there is enough appetite, and I am always respectful of the bigger guy,” he said, referring to GM’s CEO Ed Whitacre. “Let him go, he’s been itching to go. I spoke to Ed a while back, he wants to go public.”
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