[Cmicasa the GreatXvX]

ETROIT -- Chrysler Group posted an operating profit of $239 million in the third quarter and raised its outlook for the balance of the year in anticipation of stronger sales and improved operating performance.

The results, released today, marked the automaker's third straight operating profit. Chrysler's third-quarter net loss was $84 million, down from $172 million in the second quarter. It was Chrysler's smallest quarterly net loss since emerging from bankruptcy 17 months ago.

Revenues rose 5.2 percent to $11 billion during the July-September period.

Chrysler said it benefited from improved product mix and rising unit sales while being hurt by higher costs tied to seasonal plant changeovers.

The automaker is in the midst of launching 16 new or refreshed products over a 16-month period.

Last quarter's $239 million operating profit topped the $172 million average estimate of four analysts surveyed by Bloomberg.

The company now expects to post an operating profit of $700 million for all of 2010, up from a previous forecast of as much as $200 million. Revenues for all of 2010 are expected to total $42 billion, within the range of $40 billion to $45 billion forecast a year ago.

In addition, Chrysler now expects to generate $500 million in positive cash flow this year, compared with negative cash flow of $1 billion previously forecast.

“We are not only living up to our commitments, but we are exceeding our 2010 financial objectives,” Chrysler CEO Sergio Marchionne said in a statement. “Our 2010 accomplishments are just the beginning of building Chrysler into a vibrant and competitive automaker.”

Chrysler has posted $453 million in net losses on revenues of $31 billion during the first three quarters of the year. Most of the net loss is a result of interest expenses -- $899 million through September -- largely on the company's U.S. rescue loans. After exiting bankruptcy on June 10, 2009, under the control of Italy's Fiat S.p.A., Chrysler lost $3.8 billion for the remainder of the year.

Corner turned?

Analysts say the automaker appears to have turned the corner on the strength of ongoing cost controls and a recovery in sales.

“We think Chrysler may prove to be one of 2011's most surprising success stories,” Morgan Stanley auto analyst Stuart Pearson said in a report last week.

Worldwide Chrysler sales dipped 1 percent to 401,000 units during the latest period. But Chrysler's third-quarter U.S. sales rose 20 percent to 293,001 cars and light trucks.

In the United States, demand for some of the automaker's most profitable models rose sharply during the period. Sales of the Jeep Grand Cherokee rose 35 percent, Ram pickup sales were up 15 percent, and the Chrysler Town & Country minivan jumped 48 percent.

The average transaction price of a Chrysler vehicle during the third quarter was $29,350, 6.4 percent more than last year, according to Edmunds.com.

Chrysler has now been profitable on an operating basis for three consecutive quarters. During the second quarter, Chrysler generated $183 million in operating profits, up from $143 million in the first quarter.

The company has already exceeded its forecast for as much as $200 million in operating profit for all of 2010

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[Cmicasa the GreatXvX]

Damn I wish to fuck that we didn't have asswipes like Wings and that off-brand ALL-About-Balls-In-His-Mouth:>(: causing me to pull the hate out on Ford.... I could then REJOICE and celebrate the fact that all 3 of my beloved Domestics are posting profits... looking to destroy the insanity of losses to the Foreign devil.


Good going Chrysler... GM.. and Ford... U are, even if the mainstream still has dumbasses in it promoting Toyota, Honda, Hyundai, and BMW

[BasiliskSt]

It's good that all three are now generating profits at historically low production numbers resulting from the recession. GM's public offering is attractive if production numbers ever return to historic norms, but reality is that consumers are unlikely to ever return to the same wanton spending as the early 2000s. There's been a permanent change in spending habits. Some of you with parents or grandparents that survived the Great Depression will remember the word, "frugal." It's back in vogue.

Chrysler's big hope for growth is to better export the Jeep brand and to better integrate with FIAT to allow both firms to accomplish economies of scale and do more in the marketplace with less duplicative investment behind the scenes.

The profit report, while razor thin given the scale of investment is good news. It means Chrysler will likely survive to deliver the fully integrated FIAT products to the US and to begin taking world Chrysler products overseas.

[MEGAS XLR32]

If Chrysler is posting profits now..imagine when all the updated product gets released. Can't wait til 2011

[lengnert]

Now that is truly great news.

I don't think there were very many people that would've predicted that all the D3 would be reporting quarterlies in the black at the same time this early.

I am particularly impressed with how well it seems Fiat has integrated itself so far with Chrysler. I look forward to seeing what their long term relationship will prove to be, but so far so good.

All 3 companies certainly still have a lot of work to do.

[Cmicasa the GreatXvX]

MEGAS XLR32;6083 Wrote:If Chrysler is posting profits now..imagine when all the updated product gets released. Can't wait til 2011

That holds true for both it and GM. Altho updating products does actually initially take away from profits... the are doing so at a rate that insures that each product's depreciated return comes faster than ever before. I will say again that their new cost structure, particularly with Labor in renegotiated cost savings from Suppliers is gonna pan out even more come next year. GM and Chrysler each has cut the cost of making a vehicle in the U.S. by $5,000. Peep that GM's fixed costs per vehicle will drop from $13,591 in 2009 to $8,165 for 2010 and to $6,726 by 2012.

[bojangles beast]

Great for them. I know their older products have held up pretty well for my family and will buy from them again.

[docCarter]

Imagine when we get into a 15 million car annual market, Chrysler will be swimming in cash. Literally, the HQ will be flooded in wingwangs!

[wings4life]

Congrats to Chrysler.
Nice to see and hear this great news.

Oh,
and I saw that poll on bringing back the cuda.
I voted HELL YES.

Got one myself.

[nell_z]

Can't wait to see those profits next year. HOPEFULLY by next year, Chrysler will have third place (am I being too ambitious??). We'll see.

[bojangles beast]

I hope they bring back the Cuda. I would also like for them to bring back the Imperial. Make Chrysler Lux again Damn it!!!

[wings4life]

Oh,
And too bad I can't be more positive on ALL of "etroit" as certain FUKTARDS like caca force me to be harsh on GM lately, after loving them most of my life.
Still love them of course, that's why it hurts to have to try and keep up and balance all the Ford hate.

Shame.
And really caca, you hate a whole brand because I talk it up too much?
Does that ring a fucking bell in your head?
Have you seen some of your rants lately?
How fucking childish can some of you be?

[nell_z]

Soooo, not to point out the obvious, but, you do realize BOTH of you are contradicting each other.....right?

[Cmicasa the GreatXvX]

nell_z;6114 Wrote:Soooo, not to point out the obvious, but, you do realize BOTH of you are contradicting each other.....right?

U kno what??/ 4 once U actually analysed something rite. Fuck it... I'm thru hating on ford just because of that POS Douche Muthafucker. I will kick truth tho.. but I refuse to sensationalize their fuck-ups for the sake of making that DICK look more... dickish

[wings4life]

Booo-freaking-hooooo….caca is now refocusing his hate somewhere else….booo-hoooo!!!

Hey casa, here is something for you to swallow.
I remember getting Christmas gifts when I was a young lad from GM, back in 1972. I have loved GM far longer than you have, and continue to love them, as much as you, and I have owned more GM products than you -- from riding in my dad's 1960's GM cars, right on up to my own 1998 Buick Regal GS, which I purchased for my wife, while working at Ford. How is that for GM love.

And once again,
My recent negative remarks are only…key word here….ONLY in response to all the negative Ford BS from people like you.

Do with that what you will.
But if you change nothing, expect nothing.