CEO of DaimlerChrysler's U.S. Unit Says Survival Fight Won, Future Bright

AUBURN HILLS, Mich. AP reported that the Chrysler Group no longer is in a fight for its life, and its restructuring plan is paying dividends sooner than expected, the chief executive of DaimlerChrysler AG's U.S. unit said Thursday.

"We are clearly focused on lifting this company from the struggle for survival to a new standard of excellence," Dieter Zetsche told reporters.

He said Chrysler plans to introduce 11 new vehicles and revamp 10 others over the next three years.

Chrysler earned $777 million in the second quarter, compared with a loss of $146 million in the same period last year. The automaker's share of the U.S. market is rising this year for the first time since 1998.

Chrysler Group sold about 2.9 million Chrysler, Dodge and Jeep vehicles in 2001. Zetsche said the automaker has set a target of selling 4 million vehicles in 2011.

Zetsche also criticized California's strict new vehicle emissions standards.

On Monday, California Gov. Gray Davis signed the nation's first bill to combat global warming by restricting the emission of carbon dioxide and other greenhouse gases from vehicles.

Carmakers and auto workers waged a multimillion-dollar campaign to fight the bill, which calls for emission standards that apply to new cars and light trucks beginning in 2009.