Cars and Drivers
Chrysler Reports Second Quarter Profit of $436 Million
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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
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