Chrysler Group LLC reported Monday a net profit of $381 million for the third quarter of 2012, up 80 percent from the $212 million profit the company reported for the same period a year ago.
It was further proof that the Auburn Hills automaker's recovery is continuing, and should help offset the losses that its Italian parent company, Fiat SpA, is expected to announce on Tuesday.
"We've changed the conversation at Chrysler Group," said Sergio Marchionne, Chrysler Group LLC Chairman and CEO. "We have revamped our product lineup with such 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. We continue to work feverishly and are pleased to see that our all-consuming aspiration for excellence is translating into results. We are confirming guidance for the year and expect free cash flow to be well in excess of $1 billion."
Read Article