NEW YORK (CNNMoney.com) -- The situation at recently rescued Chrysler Group is even more dire than first thought, the CEO of Italy's Fiat -- which came to the aid of the U.S. automaker -- said Wednesday.
"We were surprised by how little had been done in the past 24 months," Sergio Marchionne told reporters in Frankfurt, Germany.
Chrysler will present a revised business plan in November, Marchionne told reporters.
"We have to be absolutely clear about what we want to do with Chrysler and, as a management team, where the organization is going to be in five years," Marchionne said, according to the industry newspaper Automotive News.
Unlike General Motors, which has continued to roll out new and redesigned products even as it entered and exited bankruptcy, Chrysler has had little to tout. Its most recent new market entries are the Dodge Challenger muscle car -- essentially a re-bodied Dodge Charger sedan -- and the Ram pick-up.
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