Chrysler's Press: Economy may improve in 2009-2010

WARREN, Mich. (AP) -- Chrysler LLC Vice Chairman Jim Press says the U.S. economy probably won't improve until late 2009 or 2010.

Speaking Friday at a Warren, Mich., factory to celebrate the launch of the new Dodge Ram pickup, Press said the economy has reached a point where bad news is coming to an end, but good news hasn't started yet.

He said, "We're probably in this for another year, year and a half."

Press says Chrysler will be ready by the time the economy improves because it has right-sized its business and has seven new models coming out by then. He would not identify the models except for a subcompact to be built in conjunction with Nissan Motor Co.

Press says, "We'll be able to rise when all boats go up with the ocean."

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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