Chrysler Group reports operating profit has more than doubled. The Auburn Hills, Mich. company says third quarter 2011 net income totaled $212 million compared with a net loss of $84 million a year ago and net revenue was $13.1 billion, up 19% from a year ago.
Chrysler Group ended the quarter with $9.5 billion in cash versus $10.2 billion on June 30 this year.
The company also has a new four-year national labor agreement with the UAW ratified on Thursday.
Said Sergio Marchionne, Chairman and CEO, Chrysler Group LLC, in a statement: “This house continues to be fully focused on financial performance and making outstanding cars and trucks by fully leveraging its alliance with Fiat.”