Sales of sport utility vehicles and pickups drove Chrysler Group LLC profits in the first quarter, but that wasn’t enough to overcome $1.
2 billion in unfavorable charges.
The Auburn Hills automaker lost $690 million in the first quarter of 2014 even as revenue rose 23 percent to $19 billion and sales rose 10 percent to 621,000.
Excluding special items, net income was $486 million.
Last year, first-quarter income had fallen to $166 million on lower revenue resulting from slow new-vehicle launches.Read Article