The US automaker Chrysler is looking to Russia and China for additional sales as its share of the US auto market declines. Currently, Chrysler sells only 8% of its cars outside the US market which is the smallest percentage of the big three US automakers. In 2006, Chrysler posted a loss of $1.5 Billion on a drop in sales of 2.3%. The company is looking to double its foreign sales within five years.
Chrysler Eyes New Global Strategy - TIME
TO back up this strategy, Chrysler recently named a
dedicated division head, John Stech, to Russia to grow its sales there.
Quote:
John Stech will head Chrysler's Russia division, responsible for all operational activities, including sales, marketing and finance.
Chrysler is trying to double its sales outside of North America within five years, and Russia is a key growth market for the automaker. Chrysler sales in Russia are up 62% so far this year compared with the same period last year.
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