Chrysler Group second quarter 2013 net income rose 16% to $507m on sales up 7% to $18bn.

Operating Profit was up 7% to $808m despite a $151m charge related to various recalls. Operating Profit was $1.2bn for the first half of the year.

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Net income was $530m.

Worldwide vehicle shipments rose 5% to 660,000, including 18,000 contract manufactured vehicles. Shipments in the first half of 2013 totaled 1,234,000 vehicles.

Worldwide vehicle sales were up 10% to 643,000 for the second quarter driven largely by a 17% increase in the company’s US retail sales.

International vehicle sales (outside North America) rose 7% to 75,000, including 15,000 vehicles manufactured by Chrysler and sold by Fiat.

Full-year 2013 guidance has been revised:

  • Worldwide vehicle shipments of ~2.6m (from 2.6-2.7m)
  • Net revenue of $72-$75bn (no change)
  • Operating profit of $3.3-$3.8bn (from ~$3.8bn)
  • Net income of $1.7-$2.2bn (from ~$2.2bn)

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