Chrysler, one of the two companies that make up Detroit’s Big Three who took the bailout money is not in the same rush GM is to get results.
While GM’s CEO Ed Whitacre Jr. is in the center spot of public attention due to his plan to obtain a possible IPO by the end of this year, Chrysler’s CEO Sergio Marchionne has kindly declared he wants GM to be first at this and that his company’s IPO may happen in 2011.
This isn’t just a bit of a joking matter or a spot of friendly competition as much as it is a marketing strategy because while the Fiat 500’s introduction will likely result in Fiat upping its Chrysler stake to 25 percent it won’t be enough.
According to Marchionne while there is enough investor interest for both GM and Chrysler IPO, General Motors is ahead in their turnaround and the Chevrolet Volt has what it takes to make a bit of a shareholder splash while Chrysler’s pipeline is a bit of a laggard.
To conclude, Chrysler is hitting it’s targets ahead of schedule and May is turning out to be a good month but as far as an IPO is considered it remains a distant goal.