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Chrysler Claws Back into the Black

$212 mil profit reflects rising sales.

by on Oct.27, 2011

Third-quarter results were "totally in line" with Chrysler's plans, says CEO Sergio Marchionne.

Long struggling Chrysler is having a decidedly good week.  Just a day after getting word that its U.S. hourly workers have approved their new contract, the automaker is reporting it clawed back into the black during the third quarter with a $212 net profit.

The maker lost $84 million during the July – September quarter in 2010.  The black ink is the result of a sharp surge in demand for Chrysler products, with revenues for the latest quarter up 19% to $13.1 billion.

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“In the third quarter, Chrysler Group achieved increased sales and positive financial results, totally in line with the plan we laid out in November 2009. And in October, together with the United Auto Workers, we crafted a solid four-year contract that will support us in our growth plans and significantly reward our employees for their contribution to the revival of Chrysler,” said Sergio Marchionne, Chairman and CEO of both Chrysler LLC and its Italian partner, Fiat.

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