Chrysler rode big sales increases in the U.S. to a $436 million profit in the second quarter.
A year earlier, the company lost $370 million, mainly because it refinanced government bailout loans.
Unlike other U.S.-based automakers, Chrysler is benefiting from its reliance on the United States car market. While other companies are losing money in Europe, Chrysler has little presence there. The company gets 75 percent of its sales from the U.S., where the market has been growing for the past three years.
Chrysler says second-quarter revenue increased 23 percent $16.8 billion.
- Chrysler Group LLC net income was $436 million in the second quarter, a 141 percent improvement over the Adjusted Net Income(a) of $181 million a year ago
- Net revenue for the quarter was $16.8 billion, up 23 percent from $13.7 billion a year ago
- Modified Operating Profit(b) grew to $755 million in the quarter, 49 percent higher than a year earlier
- Free Cash Flow(e) for the quarter totaled $866 million; Cash(d) ended the quarter at $12.1 billion compared with $10.2 billion a year ago and $11.3 billion at March 31, 2012
- Net Industrial Debt(f) was reduced to $432 million at June 30, 2012, from $2.1 billion a year ago and $1.3 billion at March 31, 2012
- Worldwide vehicle shipments were 630,000 in the quarter, up 22 percent from 514,000 a year ago and in line with the full-year target
- Worldwide vehicle sales for the second quarter totaled 582,000, up 20 percent from a year ago
- U.S. market share increased to 11.2 percent for the second quarter, up from 10.6 percent a year ago, driven by a 32 percent increase in U.S. retail sales; market share in Canada was 14.5 percent
- Production of the all-new, fuel-efficient 2013 Dodge Dart started in Belvidere, Ill. and the vehicle is arriving in dealer showrooms now