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June 29, 2017

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US sales push Chrysler up a gear as net income driven up by 80%

DETROIT--Strong U.S. sales powered Chrysler to a healthy third-quarter profit.

The company reported net income of US$381 million, up 80 percent from US$212 million a year earlier. The profit was due mainly to a 13 percent sales increase in the U.S., where Chrysler does three-quarters of its business. The company sold nearly 417,000 cars and trucks in the U.S. under the Jeep, Dodge, Ram and Chrysler brands.

Under the ownership of Italy's Fiat SpA, the U.S.-based company has been transformed since its 2009 trip through bankruptcy protection. It has posted profits since early last year and is now propping up Fiat, which is struggling with dropping sales in Europe.

The company says third-quarter revenue increased 18 percent to US$15.5 billion as global sales rose 12 percent to 556,000.

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