CEO Sergio Marchionne said that Chrysler Group holds more than $5 billion in cash and is on course to break even on an operating basis in 2010.
Marchionne was speaking at the National Automobile Dealers Association/IHS Global Insight Automotive Forum in New York before the city’s annual auto show. Marchionne serves as the chief executive of both Chrysler and Fiat S.p.A., which operates Chrysler. He added that the analysts’ estimate of the company’s breakeven point had been higher than its actual figure. Marchionne said that the company is producing cash and has continued to invest in the brand portfolio. He said that he feels “more comfortable” now than he did a year ago “by far.”
