CNBC's LeBeau: Chrysler To Focus On Product Development After Sale

After its sale to Cerberus Capital Management, Chrysler will focus more aggressively on product development and pursuing joint ventures and partnerships with automakers overseas, reports CNBC's Phil LeBeau.

"That's what Chrysler needs to do," said LeBeau, reporting from the automaker's headquarters in Auburn Hills, Mich. "This is predominately an North American automaker and when you're leaning almost exclusively on the truck and SUV market in North America, you're at the mercy of that market, which has been under pressure over the last year."

LeBeau said Chrysler already has a plan to "be back in the black by 2009."

Meanwhile, Chrysler Group Chief Executive Tom LaSorda said the automaker's three brands -- Jeep, Chrysler and Dodge -- will not be broken up after the sale.

"These brands will not be broken up under any circumstances," LaSorda told reporters, a day after German parent DaimlerChrysler announced the sale of most of its stake in Chrysler to Cerberus.

The CEO also said Cerberus has endorsed the current product plan and investment in plants.

"The product plan is set," LaSorda said.