Chrysler Hopes to Break Even

Chrysler Group has had one of its worst years ever–complete with consumer dissatisfaction, government oversight, and falling sales. There is good news today, though, if CEO Sergio Marchionne is to be believed. He says they “intend to break even” in 2010.

“We are confident that we can meet our ambitious but achievable goals,” Mr. Marchionne said during a keynote address at the Automotive Forum 2010 in New York Tuesday. “The amount of work that had been done to bring down the break-even point—that number ended up being lower than most people thought.”

He added that “to the extent that we are producing cash…I feel a lot more comfortable today than I did 12 months ago.” As of Monday, he said, Chrysler had stockpiled “just north” of $5 billion in cash.

Of course, “intending to break even” isn’t exactly a lofty goal–but it’s better than where Chrysler was sitting 12 months ago, certainly.