Mexican Media Brands
Chrysler Reports Profit
Chrysler Group LLC netted $436 million (€357 million) in the second quarter of this year compared with a $370 million (€303 million) loss a year earlier.
#economics
Share
Chrysler Group LLC netted $436 million (€357 million) in the second quarter of this year compared with a $370 million (€303 million) loss a year earlier.
Modified EBIT (earnings before interest, tax, depreciation, amortization, pension obligations and special items) rose 10% to $1.4 billion (€1.1 billion) in the latest quarter.
Chrysler attributes the improvement to strong volume and pricing, partially offset by an unfavorable mix because of the shift in American demand to cars from higher-margin trucks.
Revenue jumped 23% to $16.8 billion (€13.8 billion) in the quarter. Worldwide sales climbed 20% to 582,000 vehicles.
Chrysler affirms its full-year outlook for about $65 billion (€53.3 billion) in revenue on global sales of as many as 2.4 million vehicles. The company also expects net income of $1.5 billion ($1.2 billion) in 2012 and free cash flow of at least $1 billion (€819 million).
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.