Chrysler loss may be $6.8 billion

Daimler AG indicates that Chrysler LLC lost about $6.8 billion primarily in the last five months of 2007 under international accounting standards, wiping out two-thirds of the value of Chrysler, at least on the German automaker's balance sheet.

Chrysler contends that using international accounting standards as opposed to U.S. procedures distorts its performance. Katie Hepler, a Chrysler spokeswoman, said the "company has enjoyed positive operating earnings" since Cerberus Capital Management gained control of the Auburn Hills automaker in August and noted that it would "be misleading … to report on standards that are not used in the U.S."

Experts say the European accounting standards, while different, provide a relevant measure.

Because Chrysler is now the first major U.S. automaker to be privately controlled in more than 50 years, little is known about the company's finances. Chrysler CEO Bob Nardelli has said the automaker will not be profitable in 2008.