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Chrysler posts lowest losses in 18 months

Chrysler Group LLC, the automaker controlled by Fiat SpA, is set to post its smallest quarterly loss since emerging from bankruptcy 18 months ago.

A net-loss of $129 million is expected for the third-quarter of 2010. The numbers will be posted on November 8.

This would signify a significant drop from the second-quarter posting of $172 million in losses.

“Chrysler may prove to be one of 2011’s most surprising success stories,” said Stuart Pearson, an industry analyst with Morgan Stanley. He continued that he expects a “solid if not spectacular quarter.”

Bankruptcy is not the end. If you are facing bankruptcy, contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 today.

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