Chrysler set to unveil five-year plan to profitability

Alisa Priddle / The Detroit News

Auburn Hills -- Chrysler Group LLC is presenting its long-awaited five-year business plan today, outlining its vision on how it will address shortcomings and return to profitability.

More than 300 people are scheduled to gather at the company's Auburn Hills headquarters, where the design dome in the Chrysler Technology Center has been transformed to host a giant press conference that will last eight hours -- with a short break for lunch.

CEO Sergio Marchionne, who also is CEO of partner Fiat SpA, board chairman Robert Kidder and Chrysler managers will outline the company's goals and initiatives through 2014. They will address products, quality, manufacturing, engineering, engines and technology, brands, financial goals and the automaker's proposed international reach.

Members of the company's national dealer council will be in attendance along with analysts, media and representatives of the United Auto Workers and Canadian Auto Workers.

While dealers and consumers want to know what products will be sold as Chrysler, Jeep, Dodge, Fiat and Alfa Romeo brands in the future, many of the presentations will focus on implementing Fiat systems to engineer more vehicles from fewer underbodies; developing new cars in 18 months rather than three years; manufacturing vehicles more efficiently using Fiat processes; and improving quality.

All new practices must collectively reduce cost so that Chrysler, which has shrunk, can still be profitable even if it has just 8 percent share of a market in which overall sales are down. Marchionne has said Chrysler could return to profitability by 2011. Bloomberg reported Tuesday that sources said Chrysler could break even by next year.

Some employees will be able to watch the event on large screens in two auditoriums at the headquarters. Anyone else interested can follow a live audio webcast from their computer. The broadcast, accessible at chryslergroupllc.com, will start at 11 a.m. and run until about 6 p.m.

apriddle@detnews.com (313) 222-2504