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Chrysler sees 22% lift on quarterly profit

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Chrysler sees 22% lift on quarterly profit

The third biggest US automaker, on a sales spree each and every month, has naturally moved to report its net income for the second quarter reached $619 million, buoyed by truck and SUV demand.

Chrysler Group LLC, now a unit of the recently formed Fiat Chrysler Automobiles and under Fiat SpA control, has recorded a positive outcome for 11 of the last 12 quarters. The automaker had in the second quarter a growing revenue of $20.5 billion (up 14%), together with an operating profit rise of 22% to $985 million.

“When supply is as tight as it is now, we need to be very careful that we don’t sacrifice margins,” said CEO Sergio Marchionne about “unfilled demand” for Jeep sport-utility vehicles in the US. “We’ve started looking at alternatives on a global scale.”

Chrysler’s US sales, where deliveries are highly profitable, jumped in July 20% to 167,667 units, with the Jeep brand climbing an astonishing 41%. Last month was the 52nd straight month of year-on-year growth in the US, as the company has seen incredible demand for the Jeep SUV and Ram truck brands.

Fiat, which gained full control over Chrysler in 2014, will move to establish Fiat Chrysler Automobiles, a company registered in the Netherlands and with a fiscal home in the United Kingdom. FCA’s main share listing will be in New York since October, with a second one remaining in Milan, Italy.

Via Bloomberg

 

by Aurel Niculescu (my Google+) - Thursday, August 7th, 2014 - filed under Chrysler, Industry, News. Image credit: .
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