A Chrysler executive said today that the company is better equipped to survive the current economic recession than its rival General Motors. While comments like these are expected from Chrysler’s Jim Press, this one comes straight from the man responsible for the company’s financials – CFO Ron Kolka.
Kolka said that Chrysler is a safer bet for U.S. tax payers who are helping keeping the company afloat. He said that Chrysler can become profitable and repay its federal loans at a lower level of sales than General Motors.
“If you look at it on a pure-business basis, we are clearly more viable,” Kolka said in an interview with Bloomberg.
What did GM have to say about this? While spokeswoman Renee Rashid-Merem had no comment about Kolka’s statement she said that GM is on a “clearly defined path to long-term viability.”