Arab Today, arab today chrysler quadruples profit in first quarter
Last Updated : GMT 16:11:13
Arab Today, arab today
Arab Today, arab today

Chrysler quadruples profit in first quarter

Arab Today, arab today

Arab Today, arab today Chrysler quadruples profit in first quarter

London - Arabstoday

The Chrysler Group is riding high on first-quarter profits this year that totaled $473 million. That\'s quadruple what it made last year during the same period. Revenue rose 25 percent to $16.4 billion, while U.S. vehicle sales increased 39 percent. Chrysler said its worldwide vehicle shipments were up 25 percent to 607,000 cars. The company\'s goal for the year is 2.4 million units. Worldwide sales increased 33 percent. Thursday\'s earnings statement follows Wednesday\'s news that Chrysler will let its operating agreement with Ally Financial expire in a year. Ally is the primary lender for Chrysler since the company came out of bankruptcy in 2009. CEO Sergio Marchionne said that Chrysler is negotiating with several banks for its financing needs.

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