Chrysler Group LLC automaker earning record profits
The automaker company Chrysler Group LLC touched high profits in the third quarter to $381 million as compared to $212 million in the Q3 last year.The profit has rocked by 80% from that of last year. Worldwide vehicle sales for the third quarter totaled 556,000, up 12 percent from a year ago. Sergio Marchionne, Chrysler Group CEO, also CEO of Fiat Auto said
“We’ve changed the conversation at Chrysler Group,”
Chrysler Group LLC is an American-based, multinational automaker, in global strategic alliance with its majority owner, Italian manufacturer Fiat, since 2009.
Chrysler Group LLC reported overall net income revenue rise to $15.5 billion, up 18% from a year ago. The company reported cash on hand of $11.9 billion in Q3 up from $9.5 billion a year earlier.Modified Operating Profit(b) grew to $706 million in the quarter, up 46 percent from a year earlier
The CEO also added
“We have revamped our product lineup with such segment-defining models as the Jeep Grand Cherokee and the Chrysler 300. Critics and consumers already are responding positively to the Dodge Dart and to the 2013 Ram 1500, with its best-in-class fuel economy,”