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 ...
This report is based on an in-depth market analysis with inputs from industry experts. The report covers the Americas and the APAC and EMEA regions; it also covers the Global Advanced Driver Assistanc...
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...
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