Chrysler Group LLC is not burning through cash and has improved its positions since Fiat SpA took over in June, CEO Sergio Marchionne said earlier this morning.
“Some of you have been surmising we’re burning through cash,” Marchionne said at the company’s presentation of its five-year plan. “This is not true.”
Compared to $4 billion when Fiat took over Chrysler in June, the Auburn Hills automaker ended September with $5.7 billion cash on hand, reports Automotive News. Chrysler also has $200 million in earnings before interest, taxes, depreciation and amortization.
– By: Omar Rana