Chrysler Reports Big Hike In Operating Profit Vs. 3Q '10

  • October 27, 2011

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.” 

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