Chrysler's Q3 Net Income hits $464 Million

By | October 31, 2013
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