By Mark Memmott
Though it lost $3.8 billion from last June through the end of 2009, Chrysler said today that its losses narrowed to $197 million in first-quarter 2010 and that it is on track to break-even for the full year.
"There has already been an uptick in customer traffic in our dealerships in the first quarter and we are confident that sales will continue to increase as we launch new products in the second quarter," company CEO Sergio Marchionne said this morning, the Detroit Free Press reports.
The company left bankruptcy protection last June. It is now run by Italy's Fiat Group SpA, and Michigan Public Radio's Tracy Samilton reports that Fiat "is expected to announce a five-year reorganization plan" later today. That, she says, "may spell the eventual demise of Chrysler as it exists today" because "the plan will likely call for Fiat Group to spin off all its car brands into a separate car division -- Alfa Romeo, Lancia, Fiat cars, and eventually Chrysler and Dodge cars."