Chrysler, despite strain, reports stride with debt

The Chrysler Corporation is a long way from solving its longstanding financial crisis, but the automaker says it will achieve a milestone next month - nearly wiping out its debt to US banks.

The No. 3 automaker was the only domestic car manufacturer to post a sales increase last year - up about 15 percent over depressed 1980 levels. Early January sales, however, were down.