Chrysler: Cash Up More Than $1 Billion From June
Chrysler CEO Sergio Marchionne says the automaker is on firmer financial footing as it attempts to revive the company’s sagging fortunes.
Published: November 4, 2009
AUBURN HILLS, Mich. (AP) - Chrysler CEO Sergio Marchionne says the automaker is on firmer financial footing as it attempts to revive the company’s sagging fortunes.
Chrysler is announcing a new business plan at a daylong event Wednesday, including the introduction of three new Dodge cars by 2013 and new exteriors, interiors and engines on most of its current lineup.
A key component of the plan is a midsize sedan based on a bulked up Fiat design. Chrysler hopes the car will make it more competitive in midsize sedans, the largest segment of the U.S. car market.
Marchione says Chrysler had $5.7 billion in cash at the end of September, up more than a billion dollars since the company emerged from bankruptcy protection in June. He also says Chrysler was breaking even for the month of September.
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