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01 July 2009 @ 08:05 pm
Fiat CEO says Chrysler cash burn slows: report  


MILAN (Reuters) - U.S. automaker Chrysler Group LLC has stemmed the pace at which it uses cash after emerging from bankruptcy last month as a slimmer company, Chief Executive Sergio Marchionne said in an interview with Bloomberg published on Wednesday. Chrysler went through $9.6 billion in cash in 2008. The Detroit car maker reorganized around what it considered its best assets and $6 billion in fresh financing from the U.S. and Canadian governments. "We are still burning cash, but it`s slowed down by far," the agency quoted Marchionne, also the chief executive of Italy`s Fiat SpA, as saying. ... read more