Chrysler Group LLC reported today that the company’s net income for the third-quarter totaled $381 million, up 80% from $212 million in the same period a year ago. Net revenue totaled $15.5 billion, up 18% from $13.1 billion in the third quarter of 2012. Chrysler is majority-owned by Italy’s Fiat SpA.
Chrysler’s CEO said:
We continue to work feverishly and are pleased to see that our all-consuming aspiration for excellence is translating into results. We are confirming guidance for the year, and expect Free Cash Flow to be well in excess of $1 billion.
In its announcement, Chrysler said the company sold 559,000 units worldwide in the third quarter, up 12% from the third quarter of last year.
Chrysler also noted a market share gain to 11.3%, up 16% from a year ago. Neither Ford Motor Co. (NYSE: F) nor General Motors Co. (NYSE: GM) can claim a market share increase this year. Chrysler’s U.S. market share is expected to climb to 13% this year, from 8.9% in 2011.
The company is scheduled to announce an update to its sales and forecasts for Fiat tomorrow.
Paul Ausick
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
