Cars and Drivers
Chrysler Reports Second Quarter Profit of $436 Million
Published:
Last Updated:
Chrysler’s second-quarter financials are back in the black.
Chrysler reported net income of $436 million for the second quarter, significantly better than the $370 million loss the company reported in the year-earlier period. While the loss last year involved a special charge to repay government bailout loans, net income excluding the charge still impvoved $255 million from a profit of $181 million last year.
The carmakers revenue was $16.8 billion, up 23% from the year-earlier period. The company attributed that revenue growth to a 22% increase in year-over-year shipments.
“Our results reflect a tireless pursuit by the people of Chrysler Group to deliver the very best quality and value across our brands,” CEO Sergio Marchionne said in a statement. “Together, we are always striving to achieve more, to learn from the past and build upon our successes.
Chrysler, which is a private company, is based in Auburn Hills, Mich., a suburb of Detroit.
Samuel Weigley
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
