Chrysler not burning cash, sees savings: Fiat CEO

[Jason M. Hendler]

Chrysler not burning cash, sees savings: Fiat CEO

Link

[omnimoeish]

it closed out with $5.7 billion in cash, up from $4 billion when it exited its U.S.-sponsored bankruptcy in June.

Wow, wow, wow, its amazing what a bankruptcy can do for you. Chrysler's sales are down 33% year over year, which is saying a lot considering their sales a year ago were down that much from the year before. And they have apparently MADE $1.7 billion in the last 5 months? Has our country fallen through a rabbit hole?

[omnimoeish]

Here's Chrysler's big plan for the next 5 years.

http://www.autoblog.com/2009/11/04/c...uct-breakdown/

I'll sum it up for all of you. All of Chrysler's vehicles are going to be replaced by Fiat products.

Nothing even partially electric, or hybrid!

Sounds pretty much like what we all thought would happen to Chrysler. Good luck to them. If they fail again, I'm pretty sure that's the end of them.

[Jason M. Hendler]

I am hoping that they indeed have a "secret" project to electrify the Alfa Romeo Competizione.

Link

[dagwood55]

Chrysler's unit sales are tanking; they're less than half of 2007 levels. Chrysler's transaction prices are, likewise, tanking. Half off MSRP is actually not uncommon, after all givebacks.

So, gross revenue is off by at least 50%, very likely more and Chrysler's cash position improved by $1.7e9 in the last few months? How is this even possible?

[omnimoeish]

Originally Posted by dagwood55

Chrysler's unit sales are tanking; they're less than half of 2007 levels. Chrysler's transaction prices are, likewise, tanking. Half off MSRP is actually not uncommon, after all givebacks.

So, gross revenue is off by at least 50%, very likely more and Chrysler's cash position improved by $1.7e9 in the last few months? How is this even possible?

Basically due to union deals and shedding of debt apparently. I can't think of any other ways. I wonder how GM is doing.

[dagwood55]

We all wonder how GM is doing. But GM ain't talkin'. There doesn't even seem to be a date for "financial results" on the investor calendar. Of course, they aren't publicly traded, anymore, so I'm not sure what their reporting obligations are.