Statement by Tom LaSorda, Chrysler Group President and Chief Executive Officer Regarding the Start of 2007 Contract Negotiations

AUBURN HILLS, Mich., July 20  /PRNewswire-FirstCall/ -- It's been four years since our last round of negotiations with the UAW, and since then, a lot has changed for our industry, and for Chrysler.

Today, the domestic auto industry faces unprecedented challenges, and we can no longer afford to conduct "business as usual."

Our circumstances demand that we re-think our approach to our business and achieve true transformational change.

In addition, Chrysler finds itself in a historically unique position, as we finalize the major step of going from a public entity to private ownership ...  a first for a major domestic automaker.

We appreciate that the UAW has been engaged and supportive of this change in ownership, which further adds to the significance of these negotiations.

In short, never has there been a better time to re-examine every part of our business model  ...  including our relationship with labor.

Negotiations are all difficult, and this one is no exception. The challenges we're facing are clear, and we are committed to continue to work together with the UAW to do what's necessary to build a strong and secure New Chrysler. 

DATASOURCE: Chrysler Group



CONTACT:  Mike Aberlich, [phone], cell, [phone],

, or David Elshoff, [phone], cell, [phone],

, both of Chrysler Group



Web site:  http://www.media.daimlerchrysler.com/

http://www.daimlerchrysler.com/

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