Chrysler announced its 2013 financial results today and unveiled its new name and decidedly bank-like logo. Amid the announcement, Chrysler posted big gains in income, while Fiat didn't perform to analysts' expectations.

For 2013, Chrysler had revenue of $72.1 billion, up 10 percent from 2012. Net income reached $2.8 billion, a 65-percent increase. It was the company's third straight year of annual profits.

In terms of unit sales, Chrysler sold 2.4 million cars worldwide in 2013, up 9 percent. According to Automotive News, 1.8 million of those vehicles were sold in the US, a 14-percent increase. The sales growth boosted Chrysler's US market share to 11.4 percent, up 0.2 percent.

The smallest of the Detroit Three can celebrate today because, for the first time since its 2009 bankruptcy, the company has more cash than debt. Chrysler reports that it has $13.3 billion in cash, up from $11.6 billion in 2012, and holds $12.3 billion in debt, down from $12.6 billion last year.

In the fourth quarter, Chrysler brought in $21.2 billion in revenue and net income of $1.6 billion. The strong growth at the end of the year is due in large part to strong launch of the Jeep Cherokee. Chrysler has sold 25,000 of them since October 1.

Fiat reported its fourth-quarter earnings as well, and while it showed growth worldwide, it was lower than analysts expected. Fiat's earnings before interest and taxes were 931 million euros ($1.27 billion), a 5-percent increase over the fourth quarter of 2012. Analysts expected Fiat would have 1.15 billion euros ($1.57 billion) in earnings for the quarter.

With Chrysler's growth showing no signs of slowing, it appears that Fiat made the right decision to finally complete the merger between them.


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    • 1 Second Ago
  • 12 Comments
      Love Great Danes
      • 10 Months Ago
      Great news, keep people working to keep people working!!
      EvilTollMan
      • 10 Months Ago
      Good to hear. The launch of the 200 should also help in the long-run as well.
      Jeepowner
      • 10 Months Ago
      I wonder where all the people saying Cherokee will flop, doomed, etc are now? I don't like the Cherokee either, but its not meant for people who read Autoblog and enthusiast sites. Its selling well because of that fact. If it was up to us it would be all manual, AWD, Supercharged, Wagon/Hatches and Chrysler would be bankrupted again.
        Teleny411
        • 10 Months Ago
        @Jeepowner
        Well I hate the Cherokee but never wanted Fiat/Chrysler to fail.
      i.own.your.ass
      • 10 Months Ago
      fiat should buy the rest of the big 3.....no wait US gov did that first
      • 10 Months Ago
      [blocked]
      Goggles Pisano
      • 10 Months Ago
      Chrysler products were deemed 'third world-ish' in the '80's, and after being bought and sold like a $2 ***** over the last 3 decades I cannot think any more of them.
        Jeepowner
        • 10 Months Ago
        @Goggles Pisano
        Yeah, and Caddies were land barges then. Things change, ya know?
      vi_per
      • 10 Months Ago
      Is it just me or does that building look like a huge penis? No homo.
      ccl4151
      • 10 Months Ago
      I am very happy for Chrysler/FIAT.My Abarth and Maserati are awesome cars,and now I await my Alfa 4C.This will be mt third Alfa and I just cannot wait to drive it.This is a much better car than the Corvette and Porsche.