Chrysler to 'hibernate' until fortunes improve

DETROIT: Chrysler Group LLC's sales will continue to slump until around June when compared with last year's numbers because the company used big incentives early in 2009 to move cars and trucks as it headed toward bankruptcy protection, the company's CEO said.

But Sergio Marchionne, who also is CEO of Italy's Fiat Group SpA, said Chrysler will survive until its product lineup is refreshed with new designs because it has $5 billion to $6 billion in cash reserves and is being frugal.

"You know the concept of hibernation Canadian bears use?" he asked when fielding a question about how the company will make it through a sales slump with no new products coming in the immediate future.