Filed under: Chrysler, Earnings/Financials
Chrysler earned a net income of $212 million during the third quarter of 2011. That figure marks a significant improvement over the same period last year, when the company posted a net loss of $84 million. Chrysler notes that its modified operating profit more than doubled compared to the third quarter of last year. The automaker posted a modified operating profit of $483 million for Q3 2011 compared to $239 million in Q3 2010. Chrysler sites an increased demand for the company's multiple refreshed products as well as increased sales volume, better pricing and more advertising as the reason for the improvements.
In addition, the manufacturer posted net revenue of $13.1 billion, which marks a 19-percent increase over the same period in 2010. Chrysler is optimistic that its new four-year labor contract with the United Auto Workers will allow it to continue to produce strong figures moving forward. Hit the jump for the press release.
Continue reading Chrysler reports $212M third quarter earnings
Chrysler reports $212M third quarter earnings originally appeared on Autoblog on Thu, 27 Oct 2011 13:29:00 EST. Please see our terms for use of feeds.
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