Turn Around Complete? Chrysler Rakes In $1.7 Billion In 2012

Chrysler Group LLC reported Wednesday a net profit of almost $1.7 billion for 2012 and fourth-quarter earnings of $378 million.

That was an eightfold improvement over the $183 million the company earned in 2011 and offered further proof of the automaker's turnaround.

It was even better than the $734 million the company would have made in 2011 if it had not paid back its loans from the U.S. and Canadian governments early, and it exceeded the company's previous projections.

CEO Sergio Marchionne said hourly UAW workers will receive profit-sharing checks averaging $2,250; Ford on Tuesday announced its average profit sharing will be $8,300. Salaried Chrysler workers also will get bonuses.



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dumpsty - 1/31/2013 12:27:22 PM

+1 Boost

The titles seems to be correct. The Chrysler business is what's keeping FIAT afloat. Europe's overall economy is still in shambles - basically a domino effect from the US financial woes. If FIAT didn't own so much of Chrysler, it would probably be close to bankruptcy.

I would wait a few more years to really see if Chrysler's "turn around" is indeed complete. We need to see the next 200, 300, Grand Wagoneer, Caravan/T&C, Chrysler brand flagship (sedan or SUV)...etc. It still has a lot of work ahead of it.

bfghemicuda - 1/31/2013 11:21:09 AM

+2 Boost

This is profitts from Chrysler Group LLC. The Title is correct. A few years ago the question was asked, of the two GM and Chrysler which one would recover sooner and of the two which one would possibly not make it. The results were a +90% for GM and +10% for Chrysler with Chrysler the one that would fail. Looks like the pole should have been reversed. As long as GM had the Gov on there tail there future is questionable.

bfghemicuda - 1/31/2013 11:22:09 AM

+2 Boost

Correction "has'

theman440 - 1/31/2013 1:17:49 PM

+2 Boost

Correction "their" & "their"

bfghemicuda - 1/31/2013 8:04:09 PM

+1 Boost

Thanks