DETROIT Jan 30 Chrysler Group LLC's forecast of
reduced free cash flow in 2013 is the result of a slower rate of
growth of auto sales and higher capital expenditures, Chief
Financial Officer Richard Palmer said on Wednesday.
Chrysler said that both its 2013 and 2014 free cash flow
would be about $1 billion, down from $2.2 billion last year.
Still, Chrysler Chief Executive Officer Sergio Marchionne,
speaking on a conference call, said 2013 free cash flow would be
"well above $1 billion."
Marchionne also said on the same conference call that the
company's long-term financial plans will not be adjusted until
at least 2014, to allow for Chrysler's majority owner Fiat SpA
to purchase the remaining shares owned by a retiree
Currently, Fiat owns 58.5 percent of Chrysler, and the
healthcare trust, a voluntary employees beneficiary association,
or VEBA, affiliated with the United Auto Workers union, owns