Chrysler
Group has reported its preliminary second-quarter
financial results, including net income of $436 million,
an $806 million improvement from the $370 million net
loss in the same quarter last year, which had included a
$551 million charge related to repayment of its
government loans. Excluding the charge, net income
increased $255 million, or 141 percent, period over
period.
“Our results reflect a tireless pursuit by the people of
Chrysler Group to deliver the very best quality and
value across our brands,” said Sergio Marchionne,
Chrysler Group LLC Chairman and Chief Executive Officer.
“Together, we are always striving to achieve more, to
learn from the past and build upon our successes.
Nowhere is our dedication more evident than in the
all-new Dodge Dart, with up to 41 mpg highway and levels
of customization not typically found in the compact car
segment.”
Revenue for the quarter was $16.8 billion, up 23 percent
from $13.7 billion in the second quarter of 2011,
primarily driven by a 22 percent period-over-period
increase in shipments. For the first six months,
Chrysler Group recorded net income of $909 million on
revenue of $33.2 billion.
Chrysler Group recorded a modified operating profit of
$755 million, or 4.5 percent of revenue, in the second
quarter, up 49 percent from the $507 million reported in
the prior year. The increase was attributable to strong
volume and pricing, partially offset by unfavourable mix
as sales of cars increased versus trucks and SUVs,
enhanced vehicle content and increased
research-and-development spending for new models.
Modified operating profit for the first half of the year
was $1.5 billion.
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