Chrysler Posts a Net Loss of $197 Million in Q1

At the same time with the release of the financial results of the post-bankruptcy period of last year, American manufacturer Chrysler announced it's financial result for the first quarter of 2010. The group managed to post a 3 percent increase in net revenues for the period, amounting to $9.6 billion and a net loss of $197 million.

“This positive operating result in the first quarter is a concrete indication to our customers, dealers and suppliers that the 2010 targets we have set for ourselves are achievable. We are also generating cash to finance the investments being made in our product portfolio and brand repositioning,” Sergio Marchionne, Chrysler CEO says in a release.

“There has already been an uptick in customer traffic in our dealerships in Q1 and we are confident that Chrysler sales will continue to increase as we launch new products in the second quarter, beginning with the all-new 2011 Jeep Grand Cherokee. Moreover, later this year, Chrysler will launch 16 all-new or refreshed products including the all-new Chrysler 300, Dodge Charger, E-CUV, the iconic Fiat 500, and the Sebring replacement.”

The carmaker sold 334,000 units wolrdwide for Q1 2010, a slight increase over the 318,000 cars sold in the last quarter of 2009. The US market share for the carmaker now stands at 9.1 percent, leaving room for hope the upward trend of sales will continue in Q2, largely thanks to the launch of the Ram Heavy Duty truck.
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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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