Chrysler plans 'aggressive' cut in fleet sales

Fri Apr 27, 2007 10:17AM EDT

DETROIT, April 27 (Reuters) - Chrysler Group plans an "aggressive" reduction in sales to rental agencies and other fleet operators in order to shore up the residual value of its cars and trucks over three years, executive said on Friday. Steven Landry, who was named on Friday to take over Chrysler's sales efforts in North America, said the automaker planned to reduce fleet sales to 21 percent of its total sales volume by end 2009.

The plan also forecasts a reduction in sales to car rental agencies to 15 percent of Chrysler's volume over the same time period.

Chrysler representatives, who were speaking to reporters on a conference call to announce the appointment of new sales executives, declined to say how much of the automaker's current sales volume goes to fleet buyers.

aggressive move," said Chrysler Chief Executive Tom LaSorda.