Chrysler has just announced earnings of $464 million in net income for this third quarter, a 22-percent year-over-year increase. Net income for the first three quarters of 2013 is at $1.1 billion. Net revenue climbed significantly as well, to $17.6 billion, a 13.5-percent increase on Q3 of 2012.

Those increases were thanks in no small part to an eight-percent rise in sales from the same period last year, with 603,000 vehicles sold worldwide. "Chrysler Group's ninth consecutive quarter of positive net income highlights our commitment to producing award-winning vehicles for consumers, such as the Jeep Grand Cherokee and the Ram 1500," said Sergio Marchionne, Chairman and CEO of Chrysler Group.

Despite the increased sales, Chrysler's US market share dropped slightly, from 11.3 percent in Q3 2012 to 11.2. Canadian market share remained level at 14.3 percent. Have a look below for the entire press release from Chrysler.
Show full PR text
Chrysler Group Reports Third-Quarter Net Income of $464 Million

Modified Operating Profit for the Quarter was $862 Million, From $706 Million a Year Ago
Chrysler Group LLC net income for the third quarter of 2013 was $464 million, an increase of 22 percent from $381 million a year ago
Net revenue for the third quarter was $17.6 billion, up 13.5 percent from a year ago
Modified Operating Profit(b) increased 22 percent to $862 million in the third quarter, from $706 million a year earlier
Free Cash Flow(e) for the third quarter was negative $343 million; Cash(d) as of Sept. 30, 2013, was $11.5 billion, down from $11.9 billion at both June 30, 2013, and Sept. 30, 2012
Net Industrial Debt(f) was $888 million at Sept. 30, 2013, up from $656 million at June 30, 2013, and $693 million a year ago
Worldwide vehicle shipments were 593,000 for the quarter, up 6 percent from 559,000 a year ago
Worldwide vehicle sales for the third quarter were 603,000, up 8 percent from a year ago, driven primarily by a 16 percent increase in U.S. retail sales
U.S. market share was 11.2 percent for the third quarter, compared with 11.3 percent a year ago; Chrysler Group market share was 14.3 percent in Canada, the same as a year ago
Full-year 2013 guidance is confirmed


October 30, 2013 , Auburn Hills, Mich. - Chrysler Group LLC today reported its preliminary third-quarter 2013 results, including net income of $464 million, an increase of 22 percent from $381 million in the same quarter a year earlier. The third quarter marks the Company's ninth consecutive quarter of positive net income. Net income for the first nine months of 2013 totaled more than $1.1 billion.

Net revenue was $17.6 billion for the third quarter of 2013, up 13.5 percent from $15.5 billion for the same period last year, primarily driven by an increase in vehicle shipments, including the Jeep Grand Cherokee and Ram pickup trucks. Net revenue totaled $50.9 billion for the first nine months of 2013.

"Chrysler Group's ninth consecutive quarter of positive net income highlights our commitment to producing award-winning vehicles for consumers, such as the Jeep Grand Cherokee and the Ram 1500," Chrysler Group LLC Chairman and CEO Sergio Marchionne said. "We also are pleased to introduce the already award-winning Jeep Cherokee to the lineup, as it launches into the largest SUV segment in the United States."

Modified Operating Profit was $862 million, or 4.9 percent of net revenue, in the third quarter, versus $706 million reported in the prior year. The 22 percent increase was primarily due to higher shipment volumes and positive pricing, partially offset by higher industrial and launch-related costs and vehicle content enhancements. Modified Operating Profit was $2.1 billion for the first nine months of 2013.

About Chrysler Group LLC
Chrysler Group LLC, formed in 2009 to establish a global strategic alliance with Fiat S.p.A., produces Chrysler, Jeep, Dodge, Ram, SRT, FIAT and Mopar vehicles and products. With the resources, technology and worldwide distribution network required to compete on a global scale, the alliance builds on Chrysler Group's culture of innovation, first established by Walter P. Chrysler in 1925, and Fiat's complementary technology that dates back to its founding in 1899.

Headquartered in Auburn Hills, Mich., Chrysler Group's product lineup features some of the world's most recognizable vehicles, including the Chrysler 300 and Town & Country, Jeep Grand Cherokee, Dodge Dart, Ram 1500, SRT Viper and Fiat 500. Fiat contributes world-class technology, platforms and powertrains for small- and medium-size cars, allowing Chrysler Group to offer an expanded product line including environmentally friendly vehicles.


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    • 1 Second Ago
  • 26 Comments
      Seal Rchin
      • 1 Year Ago
      Chrysler does not make competitive cars, it has no legit answer to anything in Mid Size sedan segment and in small sedan segment their offering is below average. We all know about the tranny issues Cherokee has and since tranny is shared with other cars.............buying it means very costly repairs when the car is off warranty.
        • 1 Year Ago
        @Seal Rchin
        [blocked]
        jmgadget
        • 1 Year Ago
        @Seal Rchin
        9-speed is so far only in the Cherokee. And they seemed to have gotten the kinks worked out. The only reason this has become so much of a big deal is because it wasn't finished before it was suppose to "launch" so every news outlet made it a huge deal. The fact it never presented itself to a customer because of their own testing says this is an engineering area that was not fully completed before production commenced and will not necessarily mean costly repairs when it is off warranty. (There is 0 proof of continuing problems so far since they are just now hitting the dealers.) They do need new Mid Size sedans, but those are in the pipeline and its good they are taking their time with them instead of rushing like the Cherokee. Just because they don't have this area locked down does not mean their entire line up is not competitive. Their Jeep brand so far is far out performing other SUV's. the reviews of the 2014 GC are very positive and so far the RAM is selling well.
        Love Great Danes
        • 1 Year Ago
        @Seal Rchin
        NO competitive cars... .hmmmmm, yet making a very nice profit. Employing thousands, hmmmm. Me thinks you is an anus
        R.t Voll
        • 1 Year Ago
        @Seal Rchin
        Nice job thumbing up your own comments and thumbing down everyone who disagrees with you. You are such a child.
          R.t Voll
          • 1 Year Ago
          @R.t Voll
          Wow what? You had three thumbs down. Then not even five minutes later you have 3 thumbs up. You are pathetic. LOL
          Smilez1105
          • 1 Year Ago
          @R.t Voll
          "WOW" Did you finally realize the error of your endless ways?
      • 1 Year Ago
      [blocked]
      392 guy
      • 1 Year Ago
      Humm. So much hate for this company a lot of people have. I like my charger.
        Seal Rchin
        • 1 Year Ago
        @392 guy
        Talk to me when your warranty ends.
          Smilez1105
          • 1 Year Ago
          @Seal Rchin
          Talk to me when you have ANYTHING intelligent to say.
        Timothy Tibbetts
        • 1 Year Ago
        @392 guy
        I've started to laugh at it. You'll notice that the majority of comments on many sites are haters. Yet, if you see 100 comments, you know about 10,000 didn't respond. They read and moved on. Haters are literally the 1%. It's especially funny as large companies like Chrysler have media teams who really could care less, especially as customers pile in the door.
      Dom
      • 1 Year Ago
      Good for them. Once the last of the Daimler/Cerberus era demons (Avenger/200; Compass) are finally gone, there will be nothing to be ashamed of in their lineup. I continue to be impressed with my new 300C.
        vince
        • 1 Year Ago
        @Dom
        Cerberus wasn't all bad, they deserve some credit for the Ram, Grand Cherokee, and Pentastar, without which Chrysler would not be making any money. Sebring, Avenger, Patriot, Compass, and Caliber disasters were all on Daimler's watch. They tried some emergency refreshes. which were not really great, but the market crashed before they even had a chance to make an impact.
      Carman
      • 1 Year Ago
      Regardless, Chrysler has always been the darling of Detroit. They have proved that even with old, and tired designed they were able to stay afloat and sell cars cause they had products people would buy. Their current product line is outstanding. The 300, Grand Cherokee and as dowdy and tired as it is, the 200. The designs and interiors are amazing.
      gilchristdesk
      • 1 Year Ago
      I have been very happy with my 2006 Charger. I recently bought a 2013 charger RT. Love it
      • 1 Year Ago
      [blocked]
      Bill Burke
      • 1 Year Ago
      It might be too early to state that Chrysler is out of the woods yet, but based on the quality of the present product and the anticipation of even better product in the wings, things look really promising. Sure I wish Chrysler could have made it without the government assistance and the Fiat partnership, but as the smallest of the traditional "Big Three" and the unholy pillaging that took place by their former owners, I'm grateful for their survival in any form. I'm personally rooting for an IPO so that some measure of American control and influence can act as a defacto veto on an absolute takeover by Fiat. As to Fiat, I think that this merger is the best thing, other than Chrysler independence, that could have happened to these two very similar companies that have a history of great innovation and product hindered by a lack of capital. As I said, things look good.
        Seal Rchin
        • 1 Year Ago
        @Bill Burke
        "but based on the quality of the present product"-----------Bill you are older than i am and we do have to respect the elders..........but you are an idiot. It was on this very website that had like 10 posts about new 9 speed tranny in Cherokee having MAJOR quality issues. This tranny will go into every SUV Chrysler makes........they had to stop the entire process just to fix the tranny issue........and since they are already build them all they did was modify software. There are people who are about to buy a major headache. And BTW Chrysler was never known for quality.
          • 1 Year Ago
          @Seal Rchin
          [blocked]
          Bill Burke
          • 1 Year Ago
          @Seal Rchin
          There is no problem with the nine speed transmissions. These are world class and used essentially with eight speeds in the top rated, by Consumers, Chrysler 300. The issues were minor adjustments to the software to match the new disconnecting AWD systems to the shift points in the transmission for smoother operation. Even the pre-production models were praised by the press, but Chrysler had to have them perfect in keeping with their new level of industry leading quality. Chrysler quality is among the best and you should know that, youth is no excuse. Age does have it's benefits, obviously. Now about that idiot thing....
          • 1 Year Ago
          @Seal Rchin
          [blocked]
          • 1 Year Ago
          @Seal Rchin
          [blocked]
      Avinash Machado
      • 1 Year Ago
      Great news.
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