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Chrysler Reaffirms Full-Year Guidance for 2014

Maker needs to grow volume in second half of year.

by on May.12, 2014

Chrysler is looking to make inroads into the competitive midsize market segment with the news 2015 Chrysler 200.

Following a 23% jump in revenue during the first quarter, Chrysler Group LLC expects sales to continue climbing during the balance of the year as the new Chrysler 200 rolls into showrooms, following the successful launch of the new Jeep Cherokee.

While Chrysler reported a net loss of $690 million for the quarter, a result of special charges taken because of Fiat SpA’s acquisition of the United Auto Workers VEBA’s ownership stake in Chrysler. Richard Palmer, FCA’s chief financial officer, said Chrysler was sticking with its original full-year guidance, which includes a substantial sales increase.

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“The key is we need to grow volume as we go into the second half,” Palmer said during a conference call with analysts. (more…)