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)