Chrysler reports that its vehicle sales jumped by 12 percent in the third quarter over the same period in 2011. That step up was enough to bump profits by 80 percent to $381 million on $15.5 billion of net revenue. Moving forward, the automaker expects to see fourth-quarter profit of $210 million, which should help the company realize its forecast of $1.5 billion of net profit for the year. Reuters reports Chrysler CEO Sergio Marchionne expects the automaker's free cash flow for 2012 to be "well in excess" of $1 billion.

Over the same period, the smallest of the Big Three laid claim to an 11.3-percent slice of the domestic market, thanks largely to a 16-percent jump in US retail sales. More importantly, the manufacturer's net industrial debt now sits at $693 million, down from $2.2 billion one year ago. You can check out the full press release below for more information.
Show full PR text
Chrysler Group Third-Quarter 2012 Net Income Increased To $381 Million. Third-Quarter Modified Operating Profit Increased 46 Percent To $706 Million

• Chrysler Group LLC's third-quarter net income was $381 million, up 80 percent from $212 million a year ago
• Net revenue for the quarter was $15.5 billion, up 18 percent from $13.1 billion a year ago
• Modified Operating Profit(b) grew to $706 million in the quarter, up 46 percent from a year earlier
• Cash(d) at quarter-end was $11.9 billion compared with $9.5 billion a year ago and $12.1 billion at June 30, 2012; Free Cash Flow(e) for the quarter was a negative $65 million compared with a negative $699 million a year ago
• Net Industrial Debt(f) was $693 million at Sept. 30, 2012, an improvement of $2.2 billion from a year ago
• Worldwide vehicle shipments were 559,000 in the quarter, up 19 percent from 469,000 a year ago
• Worldwide vehicle sales for the third quarter totaled 556,000, up 12 percent from a year ago
• U.S. market share was 11.3 percent for the third quarter, which included a 16 percent increase in U.S. retail sales; market share in Canada was 14.3 percent
• Production of the all-new, fuel-efficient 2013 Dodge Dart is steadily ramping up, and the new 2013 Ram 1500, with best-in-class fuel economy, is accumulating positive reviews and is included on the list for North American Truck of the Year

October 29, 2012 , Auburn Hills, Mich. -

Chrysler Group LLC today reported preliminary third-quarter financial results, including net income of $381 million, an increase of 80 percent from the same quarter a year ago, reflecting continued sales increases for the product lineup in total, including sales of the all-new Dodge Dart. For the first nine months of the year, net income totaled $1.3 billion.

"We've changed the conversation at Chrysler Group," said Sergio Marchionne, Chrysler Group LLC Chairman and Chief Executive Officer. "We have revamped our product lineup with such segment-defining models as the Jeep Grand Cherokee and the Chrysler 300. Critics and consumers already are responding positively to the Dodge Dart and to the 2013 Ram 1500, with its best-in-class fuel economy. We continue to work feverishly and are pleased to see that our all-consuming aspiration for excellence is translating into results. We are confirming guidance for the year, and expect Free Cash Flow to be well in excess of $1 billion."

Net revenue for the quarter was $15.5 billion, up 18 percent from $13.1 billion in the third quarter of 2011, primarily driven by a 19 percent period-over-period increase in shipments. For the first nine months of the year, the Company recorded net revenue of $48.6 billion, a 22 percent increase from the same period a year ago.

Chrysler Group will host an analyst webcast and conference call on Tuesday, Oct. 30, 2012, at 2 p.m. E.T.


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 25 Comments
      GuyClinch
      • 2 Years Ago
      My only concern with Chrysler is that all their good products seem related to the Dialmer merge. The Journey, Jeep Grand Cherokee, and 300, Charger and Challenger are all really neat cars but all are related to the LX? platform. Can Fiat and Chrysler produce good cars on their own.. The Dart seems okay..
      sinistro79
      • 2 Years Ago
      The Jeep brand is the largest contributor of Chrysler's recent success but if they want to continue to climb they should really start offering more options for the brand. The Wrangler needs a diesel and a V8 option. A Wrangler-based truck variant would be nice too. Also, Fiat needs to bring Alfa Romeo back to the USA so Chrysler can cut into BMWs profit margin. I'm glad Chrysler is doing well but they still have a lot of potential to do better.
        oRenj9
        • 2 Years Ago
        @sinistro79
        I don't know about a V8 option, that seems kind of silly. The Wrangler gets along just fine with the 285HP it has now. What they need to focus on is getting fuel economy figures up, 17/21 is atrocious for such a small vehicle. The F150 and RAM 1500 are both bigger and more powerful while using less fuel. MPG is the new HP and all that. (I realize that diesel will help in this department, but the gasser needs love too)
      fulredy
      • 2 Years Ago
      Is that profit before, or after, paying back the taxpayers?
        JDochev
        • 2 Years Ago
        @fulredy
        Q3 financial statements are available to the public. Why don't you just go and take a look or are you financially illiterate?
        RamSport
        • 2 Years Ago
        @fulredy
        Chrysler payed their portion of the "taxpayers money" long ago...pay attention man!!!
      MAX
      • 2 Years Ago
      Sure is a world of difference since vulture capitalist Cerberus and their henchman Art Nardelli was running it. The problem in America isn't the workers but a decadent and even depraved management class.
        Shiftright
        • 2 Years Ago
        @MAX
        How on Earth does 'Bob the Wrecker' Nardelli even still have a job anywhere?
        AngeloD
        • 2 Years Ago
        @MAX
        Not necessarily. All of the improved products to date, with the exception of the Dart, were planned and started under Cerberus. That means the 200, Pentastar, new Grand Cherokee and Durango, refreshed interiors and upgraded interiors. Give credit to FIAT for the Dart and not much else. And the upcoming Cherokee/Liberty (Liberkee) looks like it will flop. Thank FIAT for that one.
        Val
        • 2 Years Ago
        @MAX
        That is why chrysler should have been allowed to FAIL and all the plants and assets transfered to the workers. Let them run their own business like they want to. That's what niam chomsky wants, and he knows what he is talking about.
      benzaholic
      • 2 Years Ago
      So that's at least twice in my lifetime that Chrysler has come back from the brink of failure and extinction. Bravo to them.
      JDochev
      • 2 Years Ago
      Chrysler's come so far in such a short time. Still not a big fan of the products (except Jeep) but am real excited to see what the company does next
      • 2 Years Ago
      [blocked]
        • 2 Years Ago
        [blocked]
      Karfreek
      • 2 Years Ago
      Keep up the good work. I am patiently waiting for the RWD mid-size Barracuda based sedan you teased about in the spring.
      T-Mille
      • 2 Years Ago
      $381 million? In a time where billions get thrown around casually, that's nothing.
      Avinash Machado
      • 2 Years Ago
      Kudos Sergio.
      rmkensington
      • 2 Years Ago
      I still cant believe how much new Jeep wranglers cost. Never shopped for one in my life until the other day I was at a dealer glancing at pricing.
    • Load More Comments