Chrsyler looking good with $1.9B loan payback

Chrsyler looking good with $1.9B loan payback

Since American car making juggernauts General Motors and Chrysler entered bankruptcy last year, GM has stolen most of the limelight. The General has created fresh new products, had a government loan payback and even posted first quarter profits, while Chrysler has been much more has understated in its return to respectability. Chrysler has pushed itself closer to former glories this week when the company paid back another $1.9 billion USD in government loans to the federal government. In total, Chrysler has paid back $3.9 billion of the $14.3 billion in loans the company received last year.

The U.S. Treasury Department is pleased and has said in a written statement that the repayment “is significantly more than the Treasury expected to recover on this loan, and is greater than an independent valuation of the loan.” The American Treasury wasn’t expecting a cash return on its investment so soon. Chrysler is preparing further good news when it officially reports its earnings shortly. The automaker said last month that it expects to earn up to $200 million USD on revenue of $40-45 billion.

Since American car making juggernauts General Motors and Chrysler entered bankruptcy last year, GM has stolen most of the limelight. The General has created fresh new products, had a government loan payback and even posted first quarter profits, while Chrysler has been much more has understated in its return to respectability. Chrysler has pushed itself closer to former glories this week when the company paid back another $1.9 billion USD in government loans to the federal government. In total, Chrysler has paid back $3.9 billion of the $14.3 billion in loans the company received last year.

The U.S. Treasury Department is pleased and has said in a written statement that the repayment “is significantly more than the Treasury expected to recover on this loan, and is greater than an independent valuation of the loan.” The American Treasury wasn’t expecting a cash return on its investment so soon. Chrysler is preparing further good news when it officially reports its earnings shortly. The automaker said last month that it expects to earn up to $200 million USD on revenue of $40-45 billion.

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