Preliminary first-quarter results from 2013 have been announced by Chrysler, and the company is reporting a net income of $166 million on revenue of $15.4 billion. Compared to this period last year, net income is down $307 million and revenue has dropped $1 billion.

Chrysler says that its quarter was negatively affected by the costs associated with launching its 2013 Ram Heavy Duty, 2014 Jeep Grand Cherokee and preparation for the return of the all-new 2014 Jeep Cherokee pictured above. The launches should provide a strong second half of 2013, says the automaker. "We remain on track to achieve our business targets, even as the first-quarter results were affected by an aggressive product launch schedule," said Chrysler Group LLC Chairman and CEO Sergio Marchionne.

On a positive note, the automaker says worldwide vehicle sales are up 8 percent from one year ago, a number pushed by a 12 percent bump in U.S. retail sales. In addition, domestic market share has risen slightly, up to 11.4 percent from 11.2 percent last year. Read more in the official statement below.
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Chrysler Group Reported First-Quarter 2013 Net Income of $166 Million

Modified Operating Profit Was $435 Million, From $740 Million a Year Ago, and Free Cash Flow Was $356 Million on Lower Shipments As Key Products Launch

Group Confirms Guidance for the Year

Chrysler Group net income in the first quarter of 2013 was $166 million, versus $473 million a year ago.

As anticipated, results were affected by lower vehicle shipments as well as industrial costs related to several key product launches, and lower vehicle shipments to Europe and Latin America, even as retail sales in North America remain strong

* Net revenue for the quarter was $15.4 billion, compared with $16.4 billion a year ago

* Modified Operating Profit(a) was $435 million in the first quarter, down from $740 million a year earlier, with shipments improving each month of the quarter as the Company executed the launches of the 2014 Jeep Grand Cherokee and 2013 Ram Heavy Duty pickup trucks

* Free Cash Flow(d) for the first quarter totaled $356 million; Cash(c) as of March 31, 2013, was $11.9 billion, compared with $11.3 billion a year ago and $11.6 billion at Dec. 31, 2012

* Net Industrial Debt(e) was $619 million at March 31, 2013, improving from $1.3 billion a year ago and $1.0 billion at Dec. 31, 2012

* Worldwide vehicle shipments were 574,000 for the quarter, down from 607,000 a year ago, principally due to 31,000 fewer Jeep Liberty shipments as production ceased during 2012 in preparation for the production launch of the all-new Jeep Cherokee in the second quarter

* Strong worldwide vehicle sales for the first quarter of 563,000, up 8 percent from a year ago, were driven primarily by a 12 percent increase in U.S. retail sales

* U.S. market share was 11.4 percent for the first quarter, compared with 11.2 percent a year ago; Chrysler Group was the quarterly market leader in Canada with a 16.0 percent share, up from 15.0 percent a year ago

* Chrysler Group confirms its guidance for the year, including worldwide shipments of 2.6 million to 2.7 million, Modified Operating Profit of approximately $3.8 billion and net income of approximately $2.2 billion

April 29, 2013 , Auburn Hills, Mich. - Chrysler Group LLC today reported its preliminary 2013 first-quarter results, including net income of $166 million on revenue of $15.4 billion. As anticipated, the quarter was negatively affected by the reduced vehicle shipments that resulted from key product launches, namely the 2013 Ram Heavy Duty trucks and the 2014 Jeep Grand Cherokee, as well as preparation for the second-quarter production launch of the all-new 2014 Jeep Cherokee. These actions are expected to position the Company for a strong performance in the second half of 2013. The first-quarter results mark the Company's seventh consecutive quarter of positive net income, reflecting continued improvements in product acceptance, pricing discipline, and market share.

"We remain on track to achieve our business targets, even as the first-quarter results were affected by an aggressive product launch schedule," said Chrysler Group LLC Chairman and CEO Sergio Marchionne. "This quarter underscores the importance of an unwavering commitment to execute flawless vehicle introductions to reach our full potential. While the task ahead this year is daunting, we remain committed to our overall targets, including a minimum shipment increase of 8 percent and a Modified Operating Profit of $3.8 billion."

Revenue for the quarter was down 6 percent from $16.4 billion in the first quarter of 2012. The anticipated reduction was primarily attributable to lower shipments in the quarter due to the end of Jeep Liberty production in 2012 in preparation for the all-new 2014 Jeep Cherokee production launch in the second quarter, and the ongoing launches of the new 2014 Jeep Grand Cherokee and 2013 Ram Heavy Duty trucks. In addition, international shipments declined year-over-year due to continued economic weakness in Europe and import restrictions in Latin America.

Modified Operating Profit was $435 million, or 2.8 percent of revenue, in the first quarter, versus $740 million reported in the prior year. The decrease was attributable to reduced shipments, industrial costs related to the new vehicle launches, and a foreign currency exchange loss related to the February 2013 devaluation of the Venezuelan bolivar fuerte relative to the U.S. dollar, partially offset by continued favorable net pricing in North America.


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  • 55 Comments
      Avinash Machado
      • 2 Years Ago
      AB seems to love the Cherokee photo for some reason.
      sinistro79
      • 2 Years Ago
      Fiat's launch of new products for Chrysler is just barely past its starting point. While I'm glad to see them making some profit, I have a feeling that next year's numbers will look similar to what we are seeing now because there is just so much going on there in terms of innovation. Same thing with Ford. GM still seems to be the lame horse of the bunch though. They should pick up the pace or else they will end up in the same mess they found themselves in when the bottom dropped out.
      Kambui Brown
      • 2 Years Ago
      People will buy it because it's different and it's a jeep. Some people just want to be different. There's a market for it. Like that annoying song, I'm different...
      bookemd
      • 2 Years Ago
      I will be down voted but, I have to say, this design will not get stale quickly and is very unique. I have not purposely looked at photos in a while, and just now when I saw it, I thought, looks cool. A few months ago I will admit from the leaked photos, I though ew, but that has changed to ooh.
        48Chevy
        • 2 Years Ago
        @bookemd
        Except for the lower front bumper, I like it. In Trailhawk trim it has a much better looking bumper design. Much more interesting and original than nearly everything in its price range and/or size class including that way overrated Evoque design.
      Feurig
      • 2 Years Ago
      For Pete's sake, please stop posting pictures of this horrible design.
      kargi
      • 2 Years Ago
      ahhh.... MYY EYEzzzzzzzzz!!!!!! they BURNNN !!
      Scooter
      • 2 Years Ago
      Chryslers "dollar store" clock in the dash is a joke, and their cars are terrible. Its a company that couldn't sustain itsself and should've went out of business long ago. Let FIAT buy out Chrysler and kick the greedy American execs out the door. And 200?..the poormans XF wannabe, 300, the poormans Bentley? Dart?...Neon 2013, this hellspawn of a Juke and an Aztek Jeep? Chryslers overall business plan is chasing dollars with minimal effort and a total lack of technology and innovation. So before Chrysler/Dodge fanboys come thumbs downing, they should do some research first.
        sirjaysmith
        • 2 Years Ago
        @Scooter
        A person who needs to do research should not be telling others to do research.
        AngeloD
        • 2 Years Ago
        @Scooter
        Total lack of technology and innovation? Sorry, but you simply don't know what you're talking about. A few examples of Chrysler's recent efforts: they're leading edge on multi-speed transmissions, cast in block tech (manifolds) on the Pentastar, have begun to offer FIAT's leading edge multiair tech on new models, has leading edge coil over rear suspension design on the Ram 1500, multi-link rear suspensions good enough to use on the new Maseratis, etc.
          SpitterGuy
          • 2 Years Ago
          @AngeloD
          ...and just to add to your comment for the nay-Sayers, don't forget: air suspension and diesel option for 1500/Grand Cherokee, award winning Uconnect infotainment system, TFT dashes in the Dart (with other models following suite), Cherokees rear axle disconnect w/ lockers... and I'm sure I am forgetting others.
      56Jalopy
      • 2 Years Ago
      Jeep, ditch that hideous grill! It's offensive to look at.
        Sir Duke
        • 2 Years Ago
        @56Jalopy
        The grill is not the only problem with this six-eyed gargoyle.
      DyanRucar
      • 2 Years Ago
      The USDM wasn't ready for the Aztek when it dropped. The Juke must be doing well for Nissan since I see them on a daily basis. This Cherokee? I imagine it will do well for Chrysler.
      GTR
      • 2 Years Ago
      someone beat the front with an ugly stick or what!?
      lazybeans
      • 2 Years Ago
      I think Autoblog uses any excuse they can to show this abomination of a vehicle.
        Feurig
        • 2 Years Ago
        @lazybeans
        They probably get a kick out of our comments.
      56Jalopy
      • 2 Years Ago
      I have owned 3 Dakotas, a Sebring convertible, a Lhs and have an old (2000) Durango. I test drove a 200, first the gear shift knob came off in my hand, then a piece of chrome from the grill flew off at 35 mph, test drive over, bought aFusion.
        AngeloD
        • 2 Years Ago
        @56Jalopy
        ...and you just now made all that crap up. Explain how a "piece of chrome" from a one piece stamped grill flies off at 35 mph. If your going to make crap up at least make it plausible.
          CJ_313
          • 2 Years Ago
          @AngeloD
          @ clquake: That's your opinion, not a fact. And it doesn't make what 56Jalopy said believable.
        Famsert
        • 2 Years Ago
        @56Jalopy
        How much is Ford paying you?
        ddirkdiggler302
        • 2 Years Ago
        @56Jalopy
        your full of it buddy. no way in the world all of that happend to a brand new car!
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