Published: November 04, 2009 11:07 am      

Chrysler: cash up more than $1B from June

AUBURN HILLS, Mich. (AP) — Chrysler CEO Sergio Marchionne says the automaker is on firmer financial footing as it attempts to revive the company’s sagging fortunes.

Chrysler is announcing a new business plan at a daylong event Wednesday, including the introduction of three new Dodge cars by 2013 and new exteriors, interiors and engines on most of its current lineup.

A key component of the plan is a midsize sedan based on a bulked up Fiat design. Chrysler hopes the car will make it more competitive in midsize sedans, the largest segment of the U.S. car market.

Marchione says Chrysler had $5.7 billion in cash at the end of September, up more than a billion dollars since the company emerged from bankruptcy protection in June. He also says Chrysler was breaking even for the month of September.