Chrysler to Post Profit in Q2

American manufacturer Chrysler expects the second quarter of the year to bring it the second consecutive profit in 2010, with the official announcement to be made on August 9. For the first quarter of the year, Chrysler reported a $143 million profit. Although the numbers are not yet known, a similar achievement is to be expected for Q2.

The performance of the American manufacturer was previewed by Italian CEO Sergio Marchionne ever since January this year, when he forecast Chrysler will post a full year profit in the current year.

"We're on the money with our five year plan. This is a great car company... it's been just through a lot. You can't undo history. You just inherit all of it," Marchionne said at the 2010 North American International Auto Show in Detroit back in early 2010.

Chrysler is currently working under Fiat's and Marchionne's guidance. The five year business plan announced last November calls for several major changes, with the aim being financial recovery in 2010. So far, things seem to be going the Chrysler way.

When the plan was drafted, Chrysler and Fiat decided to bring to the US three Italian built vehicles: the Fiat 500 and the replacements for the Dodge Caliber and Avenger.

Chrysler will scrap the aforementioned Dodges, killed the Viper this year (but only after a very special, 500 units limited edition was released) and scrap the Patriot and Compass in 2012.

Viper's replacement, to be built together with Fiat, will come in 2012. The Jeep brand will receive a new version of the Liberty in 2013, together with another two Fiat-based models.