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Posts Tagged ‘Chrysler reports earnings’

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 Group Reports $690 Million Q1 Loss

Charges due to acquisition of VEBA shares put maker in red.

by on May.12, 2014

While the company posted a loss due to special charges, Chrysler's net revenue increased, in part, because of strong sales of the Jeep Cherokee.

Chrysler Group LLC today reported a net loss of $690 million for the quarter, due to special charges related to Fiat SpA’s acquisition the ownership stake in Chrysler held by the United Auto Workers VEBA.

Net revenue was $19 billion for the quarter, up 23% from $15.4 billion in the prior-year period, primarily driven by an increase in vehicle shipments, including Ram pickup trucks and the all-new Jeep Cherokee.

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Chrysler’s modified operating profit during the first quarter was $586 million, or 3.1% of net revenue, compared with the $435 million reported in the year-ago period. The 35% increase was primarily due to higher shipments and improved mix, which was partially offset by increased vehicle costs due to vehicle content enhancements; higher advertising costs; higher depreciation and amortization costs due to new product launches; and foreign exchange effects. (more…)