PARIS, Sept 26 (Reuters) - DaimlerChrysler AG's Chrysler unit said on Thursday it has achieved cost cuts of 10 percent in the past two years and is on track to reach its goal of a 15 percent cut by the end of 2003.
Chrysler chief operating officer Wolfgang Bernhard made the comments in an interview with Reuters at the Paris auto show.
"We will not stop the cost cuts after 2003," Bernhard said. "There comes a time when the low hanging fruit is gone, but we will look for further improvements."
Chrysler chief executive Dieter Zetsche also told Reuters that U.S. auto sales will likely be "north of 16 million units" in 2003."
U.S. vehicle sales in Auust surged to a seasonally adjusted annual rate of 18.7 million vehicles on the back of generous incentives.
Zetsche also said the company was still aiming for a five percent return on sales. "We are confident we will be there in the foreseeable future."