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Struggling Chrysler posts $3 billion loss in 2007: reports+
NEW YORK, Feb. 27 (AP) - (Kyodo)—Ailing U.S. automaker Chrysler Holdings LLC registered a net loss of 1.94 billion euros, or about $2.92 billion, in 2007, reports said Wednesday.
Reuters and other news outlets said the figure was revealed by former owner Daimler AG, which still has a 19.9 percent stake in Chrysler.
Revenue reportedly came to 7.97 billion euros.
Chrysler posted a net loss of 1.1 billion euros in 2006.
The rise in the company's loss is believed to have stemmed from its lackluster performance in the mainstay U.S. market as well as from higher restructuring costs.
Daimler sold 80.1 percent of its North American division Chrysler to U.S. private equity firm Cerberus Capital Management LP last year, making Chrysler a private company.
