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Chrysler Earnings Soar Nearly 900%

Only domestic maker to gain market share in 2012.

by on Jan.30, 2013

General Manager Fred Diaz with the Ram 1500 pickup, recently named North American Truck of the Year.

Offering up another sign of its ongoing recovery, Chrysler reported 2012 earnings jump nearly nine-fold, to $1.66 billion, while the maker’s fourth-quarter profit was up 68%, to $378 million.

The news reflects a sharp increase in sales and revenues – Chrysler being the only one of Detroit’s Big Three automakers to gain market share in 2012.

“We pause for a moment to enjoy our accomplishments, but we will not stop,” Sergio Marchionne, CEO of both Chrysler and its Italian alliance partner Fiat, said in a statement.

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Marchionne pointed to soaring demand for key products such as the Jeep Grand Cherokee and the new 2013 Ram 1500, the pickup getting another boost earlier this month when it was named North American Truck of the Year by a jury of 49 U.S. and Canadian journalists.


Chrysler Q3 Earnings Surge 80%

“We’ve changed the conversation,” says CEO Marchionne.

by on Oct.29, 2012

Strong demand for the new Dodge Dart helped drive up Chrysler sales and earnings.

Buoyed by the largest sales increase among all domestic makers, Chrysler saw its earnings surge by 80% during the third quarter, while revenues gained 18%.

The U.S. maker – which is partnered with Italy’s Fiat SpA – has scored the biggest sales gains of any of the Detroit Big Three this year, the increase in demand lagging only key Japanese makers Toyota and Honda which have been recovering from last year’s serious inventory shortages caused by Japan’s March 2011 earthquake and tsunami.

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“We’ve changed the conversation at Chrysler Group,” said Sergio Marchionne, who serves as CEO of both Chrysler and Fiat, the Italian maker now holding a majority stake in its U.S. ally.

Chrysler’s July – September earnings shot to $381 million from $212 million a year ago.  Sales and other revenues rose to $15.5 billion from a year ago.


Chrysler Reports 1st Full-Year Profit Since 1997

“Modified” operating profit hits $2.0 billion; net at $183 million.

by on Feb.01, 2012

Chrysler/Fiat CEO Sergio Marchionne meets with reporters at the 2012 Detroit Auto Show.

For the first time since 1997, Chrysler has ended the year in the black with a net profit of $183 million and a “modified” operating profit of $2.0 billion, the automaker reported this morning.

After standing widespread predictions of its demise on their head, Chrysler now is  predicting another strong performance in 2012, including a double-digit gain in revenue and a 50% increase in operating income.

The figures come as a sharp turnaround for a company that declared bankruptcy less than three years ago and which survived only after receiving a more than $12 billion bailout from the U.S. Treasury.  But the Chrysler of today, now controlled by Italy’s Fiat, is a decidedly different manufacturer that went into Chapter 11 protection shortly after the collapse of a failed merger with Daimler AG of Germany.

Your Inside Source!

“The house is in good order. We are proud of the work we’ve done,” said Sergio Marchionne, who serves as Chief Executive Officer of both Chrysler Group LLC and Fiat SpA. “Now we greet a new year of high expectations with our heads down, forging ahead and focused on executing the goals we’ve set for ourselves as a company.”