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Cars and Drivers

Chrysler Reported Earnings Monday, Profit Jumps

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By Paul Ausick Published
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Chrysler Group reported on Monday 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, or 18% higher than the $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.

Paul Ausick

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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