MILAN, Italy (Reuters) -- Chrysler Group LLC has stemmed the pace at which it uses cash after emerging from bankruptcy last month, CEO Sergio Marchionne said in an interview with Bloomberg published on Wednesday.
Chrysler went through $9.6 billion in cash in 2008. The Detroit automaker reorganized around what it considered its best assets and $6 billion in fresh financing from the U.S. and Canadian governments.
"We are still burning cash, but it's slowed down by far," the agency quoted Marchionne, who is also CEO of Fiat S.p.A., as saying.
"The question is how quickly we can stop the bleeding. That is priority No. 1."
He declined to say how quickly the company is using cash.
Marchionne is cutting inventory and adding new platforms and engine technology to redefine the product portfolio.
Fiat acquired 20 percent of the new Chrysler formed from the bankruptcy. The combined company is the world's sixth-largest carmaker, with annual sales of 4.5 million vehicles.
Marchionne said he wanted to disclose Chrysler's financial information even though the automaker was not publicly listed, Bloomberg said.
He said he was working with the U.S. Treasury to decide what information Chrysler might report and when.