Chrysler's Q3 Net Income hits $464 Million
For the ninth consecutive quarter, Chrysler Group LLC has posted positive numbers for its net income. Chrysler's third quarter preliminary results have increased 22 percent from last year's $381 million to $464 million. The company's net income for the first nine months of 2013 totals over $1.1 billion. Along with the increase in net income, Chrysler has posted a 13.5 percent increase in net revenue for the third quarter, going from $15.5 billion in 2012 to $17.6 billion in 2013. The high increases can be attributed to larger vehicle shipments for both Jeep and Ram products. Total worldwide shipments were up 6 percent from the same quarter last year, increasing from 559,000 units to 593,000 units. "Chrysler Group's ninth consecutive quarter of positive net income highlights our commitment to producing award-winning vehicles for consumers, such as the Jeep Grand Cherokee and the Ram 1500. We also are pleased to introduce the already award-winning Jeep Cherokee to the lineup, as it launches into the largest SUV segment in the United States," said Chrysler Chairman and CEO Sergio Marchionne in a recent statement. For the first nine months of 2013, net revenue for the Chrysler Group is up to $50.9 billion, while the Modified Operating Profit hit $2.1 billion. In the third quarter the Modified Operating Profit, offset by high industrial and launch costs, totaled $862 million. Source: Chrysler
Subaru is bringing some mighty production-ready-looking concepts to the Tokyo Motor Show.