Advertisement

Chrysler Posts $143 Million Operating Profit For Q1 2010

 
Follow Viknesh

Chrysler headquarters

Chrysler headquarters

Enlarge Photo

With Chrysler’s new parent Fiat making the hard and fast decisions, the automaker is now on track to return to profitability and the first signs of progress are already showing. Chrysler announced today that it made an operating profit of $143 million in the first three months of 2010, helped by last year's severe cost-cutting and sales of the new Ram Heavy Duty pickup trucks.

Note that this is operating profit, so when you factor in things like interest and taxes, Chrysler is still left with a net loss of $197 million. Still, it's an indication that Detroit's smallest and weakest automaker is within spitting distance of returning to full profitability and remaining viable. That loss compares to a staggering loss of $3.8 billion since Chrysler declared bankruptcy last June 10. More importantly, it also looks like the struggling automaker will also be able to repay its loans to the government.

Even with the still-floundering U.S. economy and fluctuating exchange rates, Fiat CEO Sergio Marchionne is confident Chrysler will be able to stay profitable over the next two years. We would be too considering Chrysler is planning to launch 16 new or refreshed products this year starting with the 2011 Jeep Grand Cherokee, followed by the Chrysler 300, Dodge Charger, E-CUV, iconic Fiat 500, and the Sebring replacement.

[Chrysler]



Advertisement
 
 

Have an opinion?

  • Posting indicates you have read this site's Privacy Policy and Terms of Use
  • Notify me when there are more comments
Comment (1)
  1. Really great to hear that things are beginning to move in the right direction for Chrysler. I am very excited to see what is to come from this company in the future.
     
    Post Reply
    Vote
    Bad stuff?

 

Have an opinion? Join the conversation!

Follow Us

Advertisement

Take Us With You!

 
Advertisement
Advertisement

Research New Cars

Go!

Related Used Listings

Browse used listings in your area.

 
© 2014 MotorAuthority. All Rights Reserved. MotorAuthority is published by High Gear Media. Stock photography by Homestar, LLC. Send us feedback.