Chrysler’s Third-Quarter Net: $381 Million

[xcel]

Net revenue for the quarter was $15.5 billion, up 18 percent from $13.1 billion a year ago.

Wayne Gerdes - CleanMPG - Oct. 29, 2012

2013 RAM 1500 – Recently awarded the “Truck of Texas” by the Texas Auto Writers and a shoe in for North American Truck of the Year to be announced at the 2013 NAIS (Detroit Auto Show this January). This profitable truck is only going to help the company’s bottom line going forward.

A domestic that while having a tough go of it the past few years, with limited European exposure, is weathering the storm a lot better than those of us on the upper East coast are experiencing from the ongoing storm of the century called Sandy.

Chrysler’s worldwide vehicle shipments were 559,000 in the quarter, up 19 percent from 469,000 a year ago.

Chrysler earlier today reported preliminary third-quarter financial results, including net income of $381 million, an increase of 80 percent from the same quarter a year ago. The company stated that its continuing sales increases across its lineup including the all-new Dodge Dart is making $’s. For the first nine months of the year, net income totaled $1.3 billion.

Net revenue for the quarter was $15.5 billion, up 18 percent from $13.1 billion in the third quarter of 2011, primarily driven by a 19 percent period-over-period increase in shipments. For the first nine months of the year, the Company recorded net revenue of $48.6 billion, a 22 percent increase from the same period a year ago.

While every single product it offers was just panned for their suspect reliability by Consumer Reports this morning, Sergio Marchionne, Chrysler Group LLC Chairman and CEO said:

“We’ve revamped our entire product lineup with segment-defining models as the Jeep Grand Cherokee and the Chrysler 300. Critics and consumers already are responding positively to the Dodge Dart and to the 2013 Ram 1500, with its best-in-class fuel economy.”

While not a huge fan of the Dart anymore, it is attractive, roomy, comfortable and feature packed. For an all-new C-segment, it is going to do ok. Just like the all-new RAM 1500, the best LD truck hands down, more sales means more $'s heading to Chrysler looking forward.

[Indigo]

"Truck of Texas" made in Mexico, or China, or Canada, or Singapore... but not Texas.

[JusBringIt]

Hey Wayne,

Those numbers seem interesting. Did Chrysler really have a 13.1 billion net profit last year? It also seems the title has a different number than the description?

[xcel]

Hi Ricardo:

They had $13.1 Billion in "Revenue" last year vs. $15.5 Billion this. Title is net earnings.

Wayne

[herm]

Some politicos complaining that Chrysler may send Jeep manufacture to China and/or Europe.. no details, I just tuned it out

[aca2983]

Originally Posted by herm

Some politicos complaining that Chrysler may send Jeep manufacture to China and/or Europe.. no details, I just tuned it out

Jeeps have already been produced (maybe still are) both in Europe (Austria) and China (Bejing). IIRC, the European production had been thru a contract with Magna Steyr, who I think also made minivans for Chrysler. Beijing Jeep dates from the AMC era if I recall and they built Cherokees.

[phoebeisis]

It was a Romney ad-implied Jeeps were going to be made exclusively in China
and Jeep jobs were going to be lost in USA.
Truth is Jeep production in China IS being expanded-but only for Chinese market
Chinese are "insisting" on domestic production-but the ACTUAL REASON is LOWER WAGES-as always.
We-USA- will have to protect some manufacturing jobs-while waiting for Chinese wages to increase-and transportation costs to increase.
If AGM becomes widely accepted FACT-
IT WILL BOOST USA MANUFACTURING like nothing else
BECAUSE TRANSPORTATION COSTS-CO2 COST- will make shipping 4000 lb cars 7000 miles-TOOO EXPENSIVE.
If the Reps really cared about USA jobs-they would PUSH AGM-
even if they thought it was a SCAM/LIE
Just like they push" Obama born in Kenya"-which fully 1/2 of Republican voters believe because their leaders have sneakily pushed that BIG LIE-
Goebels ( sic) would be pleased.

[Chuck]

^ "Obama was not born a US citizen"

It's less the big lie and more people are choosing their own "facts"....in the above case because they don't like his policies...just be honest and say you don't like his policies instead of making up stories like gradeschool kids. For the record, I did not vote for him.

Picking an example that's hard to argue with: it's invariably anti-semantic people that are Holocaust Denial.

As Charles Manson said: "No sense makes sense"

or Jack Nicholson: "You can't deal with the truth!"

I'm pessimistic about things in general because many people embrace delusion over reality.

[herm]

I still like Jeeps.. what kind of mileage did the small WWII era Jeeps get?.. the ones I see around are so big and larded up with paint and accessories that they cant be light.