Chrysler Fights Back with Good Q2 Results

As hinted ever since last week, American manufacturer Chrysler posted strong results for the second quarter of the year, with the numbers showing an operating profit of $183 million for the last three months.

This bring the company's net loss down to $172 million. At the same time, net revenues increased to $10.5 billion (from $9.7 billion in Q1), cash increased to $7.8 billion, while the carmaker's market share in the US grew to 9.4 percent from 9.1 percent in Q1.

"The second quarter operating profit confirms that Chrysler Group is on track to achieve its goals, yet an extraordinary amount of work still lies ahead,"
Sergio Marchionne, Chrysler CEO said when announcing the results.

"Customer traffic in our dealerships and confidence in the Company's future continued to grow with the launch of the all-new 2011 Jeep Grand Cherokee, one of the signature vehicles for Chrysler Group. The Grand Cherokee sets the standard for this Company to produce high quality, technologically advanced vehicles.”

As for units sold, Chrysler reports an worldwide volume of 407,000 units for the second quarter, an increase of 22 percent compared to the last quarter. Dealer inventory levels kept the pace with sales, increasing from 208,000 vehicles last quarter to 222,000 units.

"2010 is seen as a year of transition and stabilization. With most of our 16 all-new or refreshed products launching later this year, including the all-new Chrysler 300, Dodge Charger, Dodge CUV, the iconic Fiat 500, and the Chrysler Sebring replacement, Chrysler Group must continue to be rigorous, disciplined and focused on the task at hand,"  Sergio Marchionne added.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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