moparstuart
Well-Known Member
- Local time
- 4:59 AM
- Joined
- Jul 19, 2008
- Messages
- 6,586
- Reaction score
- 1,052
From the New York Times, April 27, 2012
CHRYSLER’S QUARTERLY EARNINGS SKYROCKET
U.S. Automaker earns $473 million, more than all last year, thanks to 33 % sales bump.
On Thursday Chrysler said it earned $473 million in the first quarter, exceeding its profit for all of the 2011 year in just three months of 2012 as its sales rose 33%.
The profit, the largest in any quarter since the carmaker’s 2009 bankruptcy, was more than quadruple that of the same period a year ago, when it earned $116 million. Revenue increased 25% to $16.4 billion.
“Another positive quarter – built on sales gains that have surpassed industry average is affirmation that the Chrysler team is maintaining its focus.” Said Chrysler chief executive Sergio Marchionne.
Chrysler’s results caused Fiat’s first quarter profit to more than triple, to $137 million from $38 million a year ago. Fiat, which owns 58.5 % of Chrysler, lost $274 million in Europe as sales dropped amid that region’s economic struggles, but it was profitable in all other regions. Fiat’s woes in Europe mean it would be losing money without Chrysler, only a few years after Fiat kept Chrysler from going out of business.
After being largely written off (again) by many industry observers, Chrysler has steadily improved its finances by overhauling its portion of its product lineup and using creative, high-profile advertising to attract new customers. Its market share in the United States jumped 2 percentage points in the first quarter to 11.2%. Sales at U.S. dealerships increased 39 %, with passenger car deliveries up 89 % versus an 11 % gain for the rest of the industry. In Canada, Chrysler surged ahead of General Motors and Ford and became that country’s top-selling carmaker for the first time.
The average price that buyers are paying for Chrysler cars and trucks increased nearly $1,300, or 5 % in their first quarter from a year ago, according to the automotive research firm TrueCar.com. Inventory figures also show that Chrysler vehicles have been spending fewer days on dealer lots before finding buyers.
CHRYSLER’S QUARTERLY EARNINGS SKYROCKET
U.S. Automaker earns $473 million, more than all last year, thanks to 33 % sales bump.
On Thursday Chrysler said it earned $473 million in the first quarter, exceeding its profit for all of the 2011 year in just three months of 2012 as its sales rose 33%.
The profit, the largest in any quarter since the carmaker’s 2009 bankruptcy, was more than quadruple that of the same period a year ago, when it earned $116 million. Revenue increased 25% to $16.4 billion.
“Another positive quarter – built on sales gains that have surpassed industry average is affirmation that the Chrysler team is maintaining its focus.” Said Chrysler chief executive Sergio Marchionne.
Chrysler’s results caused Fiat’s first quarter profit to more than triple, to $137 million from $38 million a year ago. Fiat, which owns 58.5 % of Chrysler, lost $274 million in Europe as sales dropped amid that region’s economic struggles, but it was profitable in all other regions. Fiat’s woes in Europe mean it would be losing money without Chrysler, only a few years after Fiat kept Chrysler from going out of business.
After being largely written off (again) by many industry observers, Chrysler has steadily improved its finances by overhauling its portion of its product lineup and using creative, high-profile advertising to attract new customers. Its market share in the United States jumped 2 percentage points in the first quarter to 11.2%. Sales at U.S. dealerships increased 39 %, with passenger car deliveries up 89 % versus an 11 % gain for the rest of the industry. In Canada, Chrysler surged ahead of General Motors and Ford and became that country’s top-selling carmaker for the first time.
The average price that buyers are paying for Chrysler cars and trucks increased nearly $1,300, or 5 % in their first quarter from a year ago, according to the automotive research firm TrueCar.com. Inventory figures also show that Chrysler vehicles have been spending fewer days on dealer lots before finding buyers.
