When President Obama announced the government's reorganization plan for Chrysler in late April, he promised the bankruptcy would be "quick," "efficient," and "controlled."

And Chrysler is, in fact, hurtling through the process and appears on track to emerge soon as a new company, just one month after its Chapter 11 filing.

Then the hard part begins, according to The New York Times.

Chrysler will have lower labor costs, less debt, and a new partner in the Italian automaker Fiat. But it will be competing in a brutal marketplace that may make bankruptcy court seem, by comparison, like a refuge.

Americans are hardly in a car-buying mood, and people who are shopping are steering clear of Chrysler showrooms.

Part of the reason is the cloud of bankruptcy hanging over the company. General Motors, which is also on the brink of filing for Chapter 11, is also losing customers because of its fragile financial condition and uncertain future.

But Chrysler is even more vulnerable than G.M. because its products are heavily tilted to pickups, minivans, and sport utility vehicles that have fallen out of favor with fuel-conscious consumers. Fiat has promised to add small and sporty cars to Chrysler's lineup, but they won't be available for nearly two years.