Chrysler exec sees automaker viable by spring

NEW ORLEANS: Chrysler LLC Vice Chairman Jim Press expects the automaker to be viable by springtime after a restructuring, the introduction of new and improved vehicles, loosened credit and sweetened buyer incentives.

Press defined "viable" as remaining solvent and continuing to invest in new products, with an ability to repay government loans.

But he told reporters Saturday at the National Automobile Dealers Association annual convention that he doesn't know when the Auburn Hills, Mich.-based company will return to profitability.

Press said Chrysler can be viable if the U.S. auto market shrinks from last year's 13 million in sales to 10.4 million.

Chrysler has received $4 billion in government loans so far to hold off bankruptcy.