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.
November was a rough month for the Dodge Dart. All told, Chrysler managed to deliver 4,489 units, down from 5,455 in October, but perhaps more telling is the sizable inventory Dodge now has on hand. Chrysler added a third shift to the Belvidere, Illinois plant that produces the new compact in order to satiate projected demand, and as a result, Dodge now has a 112-day supply of Dart models. That equates to 23,446 units waiting for a new home. Automakers typically average a supply of around 73 day
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Fiat/Chrysler sold about 4.2 million cars in 2010, and company CEO Sergio Marchionne expects to improve that by more than 33% come 2014, predicting sales of 5.7 units that year (analysts, on the other hand, predict average Fiat/Chrysler sales of 4.9 million in 2014). Operating profit for 2011 has been pegged at around $600 million, a rewarding bump from the $200 to $500 million predicted earlier in the year and dwarfed by the predicted $3 billion operating profit for 2012.
Think Chrysler is having a banner 2010? A quick glance at the sales charts shows a company in dire need of new product, better quality and a Hail Mary on the showroom floor. But as bad as the situation is right now in Auburn Hills, MI, it appears the company could just about be done bleeding cash.
Throughout most of the history of the US auto industry, the Detroit Three sat atop of the sales charts with General Motors claiming first, Ford in second and Chrysler placing third. In the past few years Toyota has clawed its way past Chrysler and then Ford, and now it appears that Honda too has now passed the Pentastar. Barring some miraculous (and we mean truly outstanding) development, Honda will officially overcome Chrysler to become the fourth largest automaker in the States. Honda holds a
Chrysler, already hurt by slow sales of its bread-and-butter pickups and SUVs, doesn't think things will improve any time soon. According to an email sent by CEO Bob Nardelli to Chrysler employees, he believes that sales will continue to spiral down the drain. So far, though, the third of the Detroit 3 isn't ready to announce any additional layoffs or plant closures. Chrysler must have had some really foresighted, or extremely pessimistic, people on the team who set early '08 predictions, as Nar
Carbuyers are such a fickle group. Chrysler learned that you can inundate them with all the cute ads, fashionable promotions, and corporate celebrities you've got, only to see sales stagnate and even decline. But CNW Market Research says the way to greater sales is to just throw yourself a little multi-billion-dollar buyout.
Chrysler CEO Tom LaSorda has found someone to fill departed sales and marketing chief Joe Eberhardt's role, and he found him by looking in the mirror. LaSorda, in addition to his responsibilities as the automaker's chief executive, has taken on the head sales and marketing role as well.