Chrysler Group Turns $16.8 Billion Revenue in Second Quarter, Nets $436 Million
Chrysler Group announced this morning that it has turned in another strong quarter of sales. For the second quarter of 2012, Chrysler Group earned a net income of $436 million and a net revenue of $16.8 billion. While first quarter numbers were a bit higher, Chrysler's second quarter earnings are still 23 percent higher when compared to the same timeframe last year. The reason behind Chrysler's sales growth is simple: Market share has grown, and so have sales. As it currently stands, Chrysler has sold 834,068 vehicles through the end of June, up 30 percent when compared with the first six months of 2011. The Detroit-based automaker's U.S. market share also grew to 11.2 percent, up from 10.6 percent at the same point last year. It doesn't hurt that the all-new 2013 Dodge Dart is about to hit showrooms, as Chrysler has acknowledged it will only boost sales. Check back to Automotive.com tomorrow to see if the Dart really has helped Chrysler's sales figures. During its first month on sale, and a partial June at that, the Dart found 202 new homes. After refinancing its loans with the American and Canadian governments earlier this year, Chrysler has been able to reduce its debt. What this means is that Chrysler is no longer paying as much for the bailout loans it received almost three years ago. As for the next six months, Chrysler is on target to hit its yearly goal as the automaker is on pace to sell between 2.3 and 2.4 million vehicles globally. Chrysler can also expect a net income of $1.5 billion with a net revenue of $65 billion. Source: Chrysler
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