Economy

Chrysler Lost $197 Million In First Quarter; Looks To Break Even For Year

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."

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

NPR thanks our sponsors

Become an NPR sponsor

Support comes from