Mexican Media Brands
Truck, Jeep Sales Hike Profits 22% at Chrysler
Strong demand for its high-margin pickup trucks and SUVs boosted Chrysler Group LLC's third-quarter revenue 14% to $17.6 billion and hiked net profits to $464 million from $381 million in July-September 2012, according to preliminary data.
#economics
Share
Strong demand for its high-margin pickup trucks and SUVs boosted Chrysler Group LLC's third-quarter revenue 14% to $17.6 billion and hiked net profits to $464 million from $381 million in July-September 2012, according to preliminary data.
Worldwide sales rose 8% to 603,000 units, led by 20% increases for its Dodge car and Ram truck brands and strong demand for the Jeep Grand Cherokee. Third-quarter sales of Chrysler and Fiat brand vehicles inched up 2% and 1%, respectively.
Vehicles sold outside North America advanced 20% to 82,000 units, including variants sold in Europe under Fiat SpA's Lancia brand.
Chrysler's quarterly operating profit climbed 22% to $862 million. But cash flow was a negative $343 million, due mainly to delays in launching its all-new Jeep Cherokee SUV. Debt rose to $888 million from $693 million a year earlier.
The company confirms its full-year guidance of about 2.6 million vehicle shipments worldwide, revenue of $72 billion-$75 billion, operating profit of $3.3 billion to $3.8 billion and net income between $1.7 billion and $2.2 billion.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
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 The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.