Chrysler Group said second quarter net income was US$436m, a 141% improvement year on year.
Net revenue rose 23% to $16.8bn, up 23% from $13.7bn a year ago
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Operating profit grew 49% to $755m in the quarter.
Worldwide vehicle shipments were up 22% to 630,000 while sales of 582,000 were up 20%.
The company had booked a $370m net loss in the same quarter last year which had included a $551m charge related to repayment of its government loans.
International vehicle sales (outside North America) increased 58% year on year in the second quarter to 70,000, including 19,000 vehicles manufactured by Chrysler Group and sold by Fiat.
Edmunds.com senior analyst Jessica Caldwell said: “It looks like the reality of Chrysler’s year-over-year sales results is setting in. It had been easy for Chrysler to announce good results for the last year or so, but now that they’re working with higher baselines, it’s getting increasingly difficult, even though this is almost one of those ‘good’ problems to have.
“Still, even though Chrysler’s success in the last 18 months is commendable, it isn’t strong enough in the long term to carry its parent company Fiat, which is running into some real problems with the European economic crisis.”
The targets for 2012 were confirmed as:
- Worldwide vehicle shipments of 2.3-2.4m
- Net revenue of ~ $65bn
- Modified Operating Profit of > $3.0bn
- Net income of ~ $1.5bn
