Chrysler’s Quarterly Sales, Income Soar

Chrysler Group LLC's net income in the first quarter of 2012 jumped to $473 million from $116 million in the same period last year. Operating profit climbed 55% to $740 million.

Chrysler says its sales and revenue grew 33% to 523,000 vehicles and 25% to $16.4 billion, respectively.

Free cash flow for the period declined to $1.7 billion from $2.5 billion in the first quarter of 2011. But cash grew 14% to $11.3 billion. The company says its net industrial debt shrank to $1.3 billion at the end of March from $2.9 billion on Dec. 31.

Chrysler's retail sales in the U.S. surged 40% year-on-year in the first quarter. The company's market share advanced two points to 11.2%.

Chrysler hopes the U.S. introduction of the Dodge Dart compact car in coming months will buoy the company's North American sales in the second half of 2012.