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, 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.
(Reporting by Soyoung Kim and Deepa Seetharaman, editing by Gerald E. McCormick)