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FCA Turns Q1 Profit, Grows Revenue

Maker improves margins in North America, Europe.

by on Apr.29, 2015

FCA reported a $101.2 million Q1 profit today. Additionally, the maker improved its margins in North America and Europe.

Despite a currency shift that hurt the company bottom line, Fiat Chrysler Automobiles earned a profit of $101.2 million (92 million euros) during the first quarter as revenue grew by 19% and margins improved in both North America and Europe.

FCA earned a profit for the second straight quarter in Europe where it has struggled for several years and made more money in North America, but said its losses in South America deepened.

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The company’s profit for the first quarter of this year was an improvement over the $190 million loss that the automaker recorded last year after it recorded a $672-million charge to cover the cost of purchasing shares of Chrysler previously held by the UAW Retiree Medical Benefits Trust. (more…)

Chrysler Sees 32% Jump in 3Q Profits

Maker rides strong sales of Jeep and Ram during quarter.

by on Nov.05, 2014

Chrysler saw its net income rise 32% during the third quarter due to an increase in vehicle sales, like the Chrysler 200.

Chrysler Group LLC reported that its net income increased by 32% to $611 million for the third quarter while its revenue increased by 18% to $20.7 billion. The increases came on the backs of improved sales across its lineup.

“Jeep sales were up 44% while Ram sales were up 27% and marketshare in the U.S. increased by one full point to 12.3%,” said Richard Palmer, Chrysler’s chief financial officer. “We’re clearly the fastest growing company in the American market.”

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The automaker expects worldwide vehicle shipments to reach 2.9 million units this year, which will generate $80 billion in revenue with adjusted net income coming in between $2.3 billion and $2.5 billion, Palmer said. (more…)

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…)

Jeep Cherokee Delay A Potential Setback for Chrysler

Maker again looking at IPO options.

by on Jul.30, 2013

Stuck in the mud? Chrysler desperately needs to get the new Jeep Cherokee into showrooms.

Chrysler has confirmed that it will delay the media preview for the new Jeep Cherokee while it works out the kinks with the new and desperately needed crossover-utility vehicle .

For the moment, the sales launch of the new Cherokee remains on schedule, but even if that doesn’t slip, as well, it is the latest chapter in a long-running automotive soap opera that goes by the name Chrysler.

Meanwhile, in an unexpected turn, the maker’s CEO let slip that a long-discussed initial public stock offering that it seemed to have abandoned a couple of years ago is apparently back in Chrysler’s plans.

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“We will introduce the vehicle to media and consumers as soon as that process is complete,” Chrysler said in a statement after advising journalists expecting to drive the next Jeep Cherokee next week that the program was being delayed by a month. “While the media drive timing has changed, production continues and the vehicles will be in showrooms in September,” Chrysler said.


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.


Chrysler Back in the Black After Five Years.

Maker also outlines details of government loan payoff.

by on May.02, 2011

New products like the Jeep Grand Cherokee helped Chrysler reverse course during the first quarter.

For the first time in nearly five years, Chrysler Group posted a quarterly profit as the company’s improbable comeback continued to pick up momentum.

Chrysler earned $116 million for the first quarter, reversing the $197 million loss posted during the first quarter of 2010, as the company’s revenue grew by 35% to $13.1 billion in the first three months of 2011.

The latest number mark a potentially significant reversal of fortune for a company that hasn’t made money since former partner Daimler AG effectively dumped the U.S. arm on financial equity giant Cerberus Capital Management.  Failing to reverse course, Cerberus agreed to put Chrysler into bankruptcy protection in 2009, the automaker emerging under the control of Italy’s Fiat SpA.

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The first-quarter turnaround “shows we’re on the right path,”  Sergio Marchionne, the CEO of both automakers, said during a media conference call. “We’re now in an exceptionally solid financial position. It’s been a good quarter and a good operating performance.”

Marchionne separately noted, “We remain focused on delivering great products to our customers and continuing to achieve the sales and financial targets outlined in our 2010-2014 business plan.”