Chrysler has embarked on an ambitious, four-to-six year plan to bring its operations in line with its shrunken market share and with the changing tastes of American car buyers.

Comparing the troubled Detroit carmaker to a person who has lost weight but never bought new clothes to fit, Jim Press, Chrysler’s vice-chairman, said that “we’ve got to face reality. If we get our overheads and our capacity in line, we really have a strong future.”