NEW YORK, March 30 (UPI) -- Chrysler Chief Executive Officer Sergio Marchionne said the company would break even this year, as it pulls away from last summer's bankruptcy proceeding.
In New York just before the opening of the New York International Auto Show, Marchionne said Chrysler ended 2009 with about $5 billion in cash.
He also said Chrysler had offered about 25 percent of the dealerships it cut last year a chance to reopen.
At the forum, which was sponsored by the National Automobile Dealers Association and IHS Global Insight, Marchionne said Chrysler had plans to spend $500 million on its dealership network this year.
But he did not cater to his sponsors entirely. He also said the arbitration process for closed dealerships mandated by Congress was "unhelpful."
"There's an inequitable impact on Chrysler," he said.
