Chrysler’s Q1 Revenue and Earnings Soar

U.S. vehicle sales jump 39%, 2012 guidance remains unchanged


Chrysler’s Q1 Revenue and Earnings Soar

Fiat’s Chrysler Group posted solid results for the first quarter, with rising sales boosting revenue and profits.

Earnings came in at $473 million, the best quarterly income since 1998, and a fourfold increase over $116 million during the same period in 2011. Revenue for the quarter rose 24% to $16.4 billion as the company sold 523,000 vehicles, up 33% compared to 2011.

U.S. vehicle sales, which account for about 75% of Chrysler’s total, jumped 39%, while international sales spiked by 80% during the quarter. Chrysler also saw its share of the U.S. market rise to 11.2%, compared to 9.4% last year.

The company continues to recover from its $11.2 billion federal bailout, bankruptcy and sale in 2009. Last year it posted its first annual profit — $183 million — in six years, CNNMoney noted.

Its earnings target of $1.5 billion on $65 billion in revenue for this year remained unchanged.

The first quarter was good for U.S. automakers, with both Ford (NYSE:F) and General Motors (NYSE:GM) seeing sales gains in first three months of the year.

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