Chrylser CEO hopes for profitability by 2011

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As part of a day-long presentation designed to announce the company’s turnaround plan, Chrysler Group LLC CEO Sergio Marchionne said that the company hopes to return to profitability by 2011 and pay back the billions of dollars in loans received from the U.S. Government as part of its bailout plan.

“Today is the first day of a new Chrysler. We have laid out our plans and we have become publicly accountable for the delivery,” said Marchionne.

According to the company’s own projections, Chrysler is looking to make yearly revenue gains of 20% starting this year, leading to the company breaking even in 2011. Some industry analysts question if Chrysler will meet these lofty goals since the company does not have any new models planned to be released within the next year.

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