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Chrysler Reports 22% Jump in Q2 Profits

Increased sales, better pricing helps maker to strong result.

by on Aug.06, 2014

Jeep is the fastest growing brand in the U.S., according to Chrysler Group, and played a central role in its strong second quarter.

Chrysler Group LLC, which is now part of Fiat Chrysler Automobiles, rode a steady increase in sales to 22% increase in net income during the second quarter.

Net income for the second quarter totaled $619 million for the quarter, compared to $507 million in the year-ago quarter, the Chrysler group said in its preliminary financial report for the second quarter and first half of 2014.

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Net revenue for the second quarter was $20.5 billion, up 14% from $18 billion a year ago. Net revenue for the first half of the year was $39.4 billion, compared with $33.4 billion a year ago. Increased shipments of vehicles such as the Ram pickup and the all-new Jeep Cherokee drove the year-over-year improvements. Jeep is also now the fastest growing brand in the auto industry. (more…)

Chrysler Offering 60-Day Returns on Most 2010s

Maker expanding program designed to get shoppers into showrooms.

by on Jul.08, 2010

The 2010 Chrysler 300C is one of the many vehicles covered by the maker's new 60-Day Test Drive.Chrysler will let buyers unhappy with its latest products return them, for up to 60 days, and get a full refund. The 60-day Test Drive program will also cover a motorist’s first two monthly payments, up to $1,000.

The program, which echoes ones launched by General Motors and Hyundai, was originally limited to just Chrysler’s two minivan models, the Chrysler Town & Country and Dodge Caravan.  It will now include most Chrysler, Dodge, Jeep and Ram products from the 2010 model-year, but notably excludes the all-new 2011 Jeep Grand Cherokee, which is just reaching showrooms.

“With this pledge consumers will have the confidence to know they made the right purchase or they can return the vehicle no questions asked,” said Fred Diaz, Chrysler’s top sales executive and president of the Ram truck brand.

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Chrysler’s sales have been picking up in recent months, rising 32% in June, but things were slow, earlier in the year, and the maker needs a boost to help it get rid of those 2010 models before it launches the critical 2011 model-year.  At the end of June, there was a 59-day supply of vehicles on Chrysler dealer lots, though that is well below the 71-day supply the maker was weighed down by when it emerged from bankruptcy a little more than a year ago.