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.

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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.

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