Chrysler Earns $436 Million Profit In Q2
Chrysler has reported a $436 million second quarter profit and is backing an earlier forecast of $1.5 billion in earnings this year. Just three years ago, Chrysler almost ran out of cash and needed a government bailout.
Chrysler is the benefit of their reliance on selling cars in North America and limiting their exposure in overseas markets. Other car companies are losing money in Europe and their sales are slowing down in China and South America.
Over 75% of Chrysler’s sales are in the United States and 12% in Canada. Sales in both of these countries are up in the last 3 years. Chrysler’s second-quarter revenue increased 23% to $16.8 billion. This was Chrysler’s best quarter since emerging from bankruptcy protection in June 2009.
Between April and June 2012, Chrysler sold over 436,000 Jeep, Dodge, Ram, and Chrysler cars and trucks. Chrysler is based in Auburn Hills, Michigan and is privately held. A majority of the stake in Chrysler is owned by Fiat SpA of Italy.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry