Chrysler expectations high for Chinese auto market

According to the latest report DaimlerChrysler Financial Services will uncouple its Mercedes-Benz and truck financial operations from Chrysler Financial when Daimler sells its Chrysler Group.

However, at the mean time Cerberus will continue to concentrate on Chrysler's reconstruction plan once the sale of Chrysler Group to Cerberus Capital Management LP is completed in the third quarter.

Investment from Cerberus will allow Chief Executive Tom Lasorda and his management team time to implement their restructuring plan without short-term pressure from Wall Street, said Cerberus Chairman John Snow.

Chrysler currently has to count on contributions from the Chinese market to improve its global sales. Tom LaSorda has reviewed the Company's aggressive plans in China during a recent visit to BeijingBenz-DaimlerChrysler Auto, a 50:50 joint venture between DaimlerChrysler and BAIC.

In fact the company has been doing very well in China, with its luxury Chrysler 300C just went on sale last November but was approximately 10,000 yuan cheaper than BMW and Audi A6L.