US: Chrysler books strong profits after US retail sales rise
Chrysler booked adjusted first quarter operating profit up 55% to US$740m and net income quadrupled to $473m on revenue up 25% to $16.4bn.
Worldwide vehicle shipments rose 25% to 607,000 as unit sales rose 33% to 523,000.
The automaker said the result was due mainly to its 40% increase in US retail sales.
Adjusted EBITDA was $1.4bn or 8.5% of net revenue, up 18%.
Vehicle sales outside North America increased 80% to 67,000, including 18,000 vehicles manufactured by Chrysler and sold by Fiat.
Chrysler is sticking to 2012 targets - vehicle shipments of 2.3-2.4m; revenue of $65bn; adjusted operating profit of at least $3bn and net income of $1.5bn.
First out of the gate today was news that the Chinese government had, finally, officially approved the Chery joint venture with Tata Motors' Jaguar Land Rover that will see Freelanders built in China ...
LMC Automotive's service provides customers with the very latest monthly estimates of passenger car production across all of Europe. Updated monthly and provided model-by-model, and available only via...
Fiat, due to unveil its revised industrial plan for Italy on 30 October, will keep its Mirafiori, Turin, plant open and increase production at its southern Melfi plant, Reuters reported....
Italian union sources maintain the upcoming meeting between Fiat CEO, Sergio Marchionne and Italian labour bodies to detail a new business plan for the automaker, will not see plant closures unveiled....
Fiat chief executive Sergio Marchionne has told unions the automaker is working on a new business plan for Italy to present on 30 October, Fismic union leader Roberto di Maulo said....
- Briefing: Supplier industry financial review
- VEHICLE ANALYSIS: MY2015 Volvo V60 Polestar
- THE WEEK THAT WAS: All eyes on Vienna
- INTERVIEW: Alain Uyttenhoven, Head of Lexus Europe
- VEHICLE ANALYSIS: Volkswagen Polo 1.2 TSI
- Tesla and BMW in battery talks - reports
- INDIA: Datsun horror inspires national crash tests
- 2014 GUANGZHOU SHOW: World premieres list
- Jaguar Land Rover named "most trustworthy OEM"
- BMW tests Google Glass eyewear for quality checks