03-30-2010, 10:20 AM
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Super Moderator
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Join Date: Nov 2006
Location: Indiana
Posts: 9,553
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Chrysler on track for breakeven
Chrysler on track for breakeven operations in 2010
NEW YORK
03/30/2010
Chrysler Group LLC is on track to break even on an operating basis in 2010 and holds more than $5 billion in cash at the current time, said Chrysler Chief Executive Sergio Marchionne on Tuesday.
Marchionne, who is CEO of both Chrysler and Fiat SpA <FIA.MI>, which operates Chrysler, added that the company's break-even point was substantially lower than most analysts estimated.
"To the extent that I'm producing cash, and I keep on investing in the brand portfolio," said Marchionne, "I feel a lot more comfortable today than I did 12 months ago -- by far."
Marchionne was speaking at the National Automobile Dealers Association/IHS Global Insight Automotive Forum in New York.
LINK: Chrysler on track for breakeven operations in 2010 | Reuters
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Rick
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