Chrysler: Cash Up More Than $1B From June

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By Scott Sarvay

Story Published: Nov 4, 2009 at 1:57 PM EDT

Story Updated: Nov 4, 2009 at 1:57 PM EDT

AUBURN HILLS, Mich. (AP) - Chrysler CEO Sergio Marchionne says the automaker is on firmer financial footing as it attempts to revive the company's sagging fortunes.

Chrysler is announcing a new business plan at a daylong event Wednesday, including the introduction of three new Dodge cars by 2013 and new exteriors, interiors and engines on most of its current lineup.

A key component of the plan is a midsize sedan based on a bulked up Fiat design. Chrysler hopes the car will make it more competitive in midsize sedans, the largest segment of the U.S. car market.

Marchione says Chrysler had $5.7 billion in cash at the end of September, up more than a billion dollars since the company emerged from bankruptcy protection in June. He also says Chrysler was breaking even for the month of September.

(Copyright 2009 by The Associated Press. All Rights Reserved.)


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