Chrysler Group had nothing but good news to share this morning as it has reported its financial results for the first quarter of 2012. The headline-hogging number is that the automaker's first quarter profit quadrupled from $116 million a year ago to $473 million this year. All that was on the back of U.S. sales that increased 39 percent year-over-year. The rise in sales also resulted in Chrysler Group increasing its market share in the U.S. from 9.2 to 11.2 percent.
We've always found that our tires get squirrely in the wet before they fail the old penny test for tread depth. The Tire Rack, supplier of black round things and other accessories, are suggesting that the price of your safety has appreciated by 24 cents. For years, the penny test has been a quick way to turn a common item of pocket detritus into a tread-depth gauge. Hold Abe upside down, and if the tread clears the top of his noggin, you've got at least 2/32nds of an inch of tread. When tread ge
The good news is that GM posted a profit of $62 million, which is the company's second consecutive quarterly profit. The bad news is that the $62 million represents a 90% decline in profits from the first quarter of 2006, which were $602 million. There is a silver lining: the drop is due to losses at GMAC Financial Services, and not the automotive business. In fact, automotive operations improved and GM had record vehicle sales worldwide.