Good news from Chrysler and GM

From Chrysler:

Chrysler Group LLC Reports Financial Results for the Period Ended March 31, 2010

Auburn Hills, Mich., Apr 21, 2010 - Chrysler Group LLC today announced its Financial Results for the period ended March 31, 2010... including a first quarter operating profit of $143 million.

Sergio Marchionne, Chief Executive Officer of Chrysler Group LLC stated, “This positive operating result in the first quarter is a concrete indication to our customers, dealers and suppliers that the 2010 targets we have set for ourselves are achievable. We are also generating cash to finance the investments being made in our product portfolio and brand repositioning,” said Sergio Marchionne, Chief Executive Officer, Chrysler Group LLC. “There has already been an uptick in customer traffic in our dealerships in Q1 and we are confident that Chrysler sales will continue to increase as we launch new products in the second quarter, beginning with the all-new 2011 Jeep® Grand Cherokee. Moreover, later this year, Chrysler will launch 16 all-new or refreshed products including the all-new Chrysler 300, Dodge Charger, E-CUV, the iconic Fiat 500, and the Sebring replacement.”

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About General Motors... from Reuters

DETROIT, April 20 (Reuters) - General Motors Co [GM.UL] has completed repayments totaling $5.8 billion to the U.S. and Canadian governments for loans that helped fund the U.S. automaker's bailout last year, the company said on Tuesday.

GM, which emerged from bankruptcy in July 2009, had pledged two weeks ago to repay the balance of loans from the U.S. Treasury and Export Development Canada "in full by June at the latest."

"Our ability to pay back these loans less than a year after emerging from bankruptcy is a sign that our plan for building a new GM is working," GM Chief Executive Ed Whitacre said on Tuesday in an opinion piece posted on the Wall Street Journal website.

The loans had outstanding balances of about $4.7 billion to the United States and $1.1 billion to Canada after accounting for exchange rates. (more at the link above).