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
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
