Chrysler earned a net income of $212 million during the third quarter of 2011. That figure marks a significant improvement over the same period last year, when the company posted a net loss of $84 million. Chrysler notes that its modified operating profit more than doubled compared to the third quarter of last year. The automaker posted a modified operating profit of $483 million for Q3 2011 compared to $239 million in Q3 2010. Chrysler sites an increased demand for the company's multiple refreshed products as well as increased sales volume, better pricing and more advertising as the reason for the improvements.

In addition, the manufacturer posted net revenue of $13.1 billion, which marks a 19-percent increase over the same period in 2010. Chrysler is optimistic that its new four-year labor contract with the United Auto Workers will allow it to continue to produce strong figures moving forward. Hit the jump for the press release.
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Chrysler Group Reports Third Quarter 2011 Net Income of $212 Million

Chrysler Group Modified Operating Profit More Than Doubled From Prior Year on 19 Percent Increase in Quarterly Net Revenue

Chrysler Group's third quarter 2011 net income totaled $212 million compared with a net loss of $84 million a year ago

Third quarter net revenue was $13.1 billion, up 19 percent from a year ago
Modified Operating Profit(b) grew to $483 million in the quarter, from $239 million a year ago

Chrysler Group ended the quarter with $9.5 billion in Cash(d) versus $10.2 billion at June 30, 2011

New four-year national labor agreement with the UAW ratified on October 26

October 27, 2011 , Auburn Hills, Mich. - Chrysler Group LLC today reported preliminary net income of $212 million for the third quarter, compared with a net loss of $84 million a year ago, as the Company continues to increase sales and benefit from its alliance with Fiat S.p.A.

In the third quarter of 2011, net revenue was $13.1 billion, a 19 percent increase from the third quarter of 2010, driven by increased demand for Chrysler Group's 16 all-new or significantly refreshed cars and trucks.

The Company reported a Modified Operating Profit of $483 million for the quarter, or 3.7 percent of net revenue, up from $239 million, or 2.2 percent of net revenue, in 2010. Modified Operating Profit benefited from increased sales volume and improved pricing and mix, partially offset by increased advertising and industrial costs.

"In the third quarter, Chrysler Group achieved increased sales and positive financial results, totally in line with the plan we laid out in November 2009. And in October, together with the United Auto Workers, we crafted a solid four-year contract that will support us in our growth plans and significantly reward our employees for their contribution to the revival of Chrysler," said Sergio Marchionne, Chairman and Chief Executive Officer, Chrysler Group LLC. "This house continues to be fully focused on financial performance and making outstanding cars and trucks by fully leveraging its alliance with Fiat."

Please see the attached file on the right for the full news release. The presentation will be added in advance of the analyst webcast and conference call to review and discuss Chrysler Group's third quarter 2011 financial results.

Chrysler Group will host the analyst webcast and conference call on Friday, Oct. 28, 2011, at 8 a.m. ET / 1 p.m. UK / 2 p.m. CET.

For webcast access, go to http://www.chryslergroupllc.com/en-us/investor/webcast.


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    • 1 Second Ago
  • 18 Comments
      ExoPlanet
      • 3 Years Ago
      Right on schedule
      aatbloke1967
      • 3 Years Ago
      Well done, Chrysler. Keep it up!
      tipdrip215
      • 3 Years Ago
      Good for them. Lets hope they've finally learned their lesson and that 2009 is the last time Chrysler ever flirts with death.
      Frank
      • 3 Years Ago
      This is the Chrysler that was always there. Now we see it because they are out from under the heel of Daimler.
      brgtlm
      • 3 Years Ago
      Hope this is the start of a bright future, which was severely trampled on by Daimler.
      NipponEngine
      • 3 Years Ago
      the taxpayers say, "you're welcome"
        carfan
        • 3 Years Ago
        @NipponEngine
        as a nippon engine you should also thank the American taxpayers for the billions of dollars we gave the koreans and the japaneez through the cash for clunkers program. You're just an idiot who doesn't have the mental capacity to think something through and weigh the possibility of actually saying something that could backfire right into your face!
      Igotmine
      • 3 Years Ago
      Should be easy to do after the US tax payers picked up the tab for the bail out and gave $1.3B to Fiat as a bribe to take this puppy off our hands. It made me run out and buy a 2012 Jeep Grand Cherokee Laredo 4X4! How can you beat $5K less than a Toyota Highlander and $6K less than a Honda Pilot? Chrysler may be the pits when it comes to quality but they do have a 5-year/100,000-mile warranty. You can always trade it off when the warranty expires.
        Doc8677
        • 3 Years Ago
        @Igotmine
        Actually according to Consumer Reports most recent release Jeep is the highest rated domestic manufacturer - even ahead of Ford which slipped slightly this year with a bunch of newly released models. Higher quality and lower priced than the imports equals a great product from the newly resurrected Chrysler Corp.
          Igotmine
          • 3 Years Ago
          @Doc8677
          Newly resurrected!? You can't resurrect the dead. Chrysler is now a foreign-owned company assembling in the US, a subdivision of Fiat, just like it was foreign-owned and assembling in the US when it was a subdivision of Daimler. Chrysler today is like the transplants Toyota, Honda, Nissan, Hyundai, BMW, Mercedes, Mitsubishi, all foreign-owned assembling in the US. I have no problem with that. It still remains to be seen how the quality turns out and how reliable it is but that won't happen until AFTER the warranty expires and the owners have to shell out the bucks to keep it running. Until then I'll keep an open mind. Bought the Jeep to replace my wife's 2009 4Runner which I will be driving from now on and the lower price was the deciding factor. 2012 4Runner would have cost at least $5K more if similarly equipped but the 4Runner may be worth it since ours has had zero problems and has never been back to the dealer in over 60K miles.
      MAX
      • 3 Years Ago
      Mighty Mopar keeps moving forward with the 1st quarter bringing a sensational fuel efficient baby Charger new compact, the greatest Viper ever and a more fuel efficient version of the hot selling RAM. Watch out TuRDyota and Korean Government Motors, you got a real fight on your hands.
        tipdrip215
        • 3 Years Ago
        @MAX
        A Mopar fan calling GM Government Motors, hilariously hypocritical.
      whofan
      • 3 Years Ago
      Its nice to see Chrysler making some money. It would be better if Chrysler were making billions in profit. 200 million to an automaker is like a person having a couple dollars change sitting on their dresser.
        Basil Exposition
        • 3 Years Ago
        @whofan
        More like a person having all the bills paid, a stocked fridge, a full gas tank, a new outfit, and a couple extra dollars on the dresser. That's more than a lot of people have these days.
      MAX
      • 3 Years Ago
      The scion of the FIAT empire was born in New York City! He's an American! Just google John Elkann. Sergio grew up in a Detroit suburb
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