[car fanatics]

Chrysler
Photo credit: Chrysler

Chrysler Group LLC today reported its preliminary second-quarter financial results, including net income of $436 million, an $806 million improvement from the $370 million net loss in the same quarter last year, which had included a $551 million charge related to repayment of its government loans. Excluding the charge, net income increased $255 million, or 141 percent, period over period, as the Company continues to achieve its business targets and improve sales across all brands.

“Our results reflect a tireless pursuit by the people of Chrysler Group to deliver the very best quality and value across our brands,” said Sergio Marchionne, Chrysler Group LLC Chairman and Chief Executive Officer. “Together, we are always striving to achieve more, to learn from the past and build upon our successes. Nowhere is our dedication more evident than in the all-new Dodge Dart, with up to 41 mpg highway and levels of customization not typically found in the compact car segment.”

Revenue for the quarter was $16.8 billion, up 23 percent from $13.7 billion in the second quarter of 2011, primarily driven by a 22 percent period-over-period increase in shipments. For the first six months, the Company recorded net income of $909 million on revenue of $33.2 billion.

The Company recorded a Modified Operating Profit of $755 million, or 4.5 percent of revenue, in the second quarter, up 49 percent from the $507 million reported in the prior year. The increase was attributable to strong volume and pricing, partially offset by unfavorable mix as we increased sales of cars versus trucks and SUVs, enhanced vehicle content and increased research-and-development spending for new models. Modified Operating Profit for the first half of the year was $1.5 billion.

[ArtRiX]

[MOPAR74]

Every quarter, more and more money


they are getting there, slowly but surely

[BasiliskSt]

Sergio is looking like a genius. FIAT alone is overly dependent upon Europe.

And Mercedes (Daimler) looks like they didn't know what they had.

It's half time in America indeed.

[MOPAR74]

Its amazing what a little development money can do huh?

[vexner]

BasiliskSt;222236 Wrote:Sergio is looking like a genius. FIAT alone is overly dependent upon Europe.

And Mercedes (Daimler) looks like they didn't know what they had.

It's half time in America indeed.

Nickle and Daimler bough the most profitable manufacturer in America at the time...raided the war chest to prop up quality prone Mercedes and left Chrysler at the alter.

Idiots...who will be next to be sacrificed for the vampire Mercedes?

[BasiliskSt]

I hear Renault (and therefore Nissan) are cooperating with Daimler. Given the German's cultural track record. I had similar thoughts. Next victim. I hope Ghosn has his eyes wide open. It was just "cooperation" on a platform or diesel (don't remember the details), but I would be reluctant to let Daimler into my check book with the expectation of equal benefits.