Chrysler CEO Says Sale Could Come Soon: WSJ

Chrysler CEO Tom LaSorda told a small group of auto dealers that the sale of the money-losing automaker could be resolved soon, The Wall Street Journal reported Thursday.

"He assured us that it wouldn't drag on," a dealer said, according to the paper.

In addition, German parent company DaimlerChrysler outlined areas of cooperation it would continue between Chrysler and its Mercedes unit if a sale occurs, the Journal said. A discussion of cooperation indicates that talks with potential buyers are moving to an advanced stage, the paper reported.

The automaker expects to have preliminary offers for Chrysler by the end of the month from at least there groups: Cerberus Capital Management, Canadian auto parts maker MagnaInternational and a joint bid between Blackstone Group and Centerbridge Partners, the Journal said.

According to the Journal, the company would like to tell shareholders at the April 4 annual meeting if wants to continue pursuing a sale or if it will try and turn around Chrysler.

Shares of DaimlerChrysler were up 1.6% in German trading Thursday.

Contact U.S. News


    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More

Don't Miss

U.S. Video

  • McDonald's need to look at regional food preferences, says R.J. Hottovy, Morningstar analyst, discussing what the company need to do to attract new customers on the heels Don Thompson departure.

  • U.S. stocks look to avoid a third day of losses, after the Dow dropped another 195-points Wednesday as oil prices tanked to their lowest levels since March 2009 and the Fed released its post-meeting statement.

  • Leading up to the Super Bowl (and Puppy Bowl), on Wednesday, Uber teamed up with Animal Planet and 10 local humane societies to bring puppies to offices for play dates. CNBC tried it out.