Chrysler Loses $690 Million In First Quarter

Sales of sport utility vehicles and pickups drove Chrysler Group LLC profits in the first quarter, but that wasn’t enough to overcome $1.2 billion in unfavorable charges.

The Auburn Hills automaker lost $690 million in the first quarter of 2014 even as revenue rose 23 percent to $19 billion and sales rose 10 percent to 621,000.

Excluding special items, net income was $486 million.

Last year, first-quarter income had fallen to $166 million on lower revenue resulting from slow new-vehicle launches.

skytop - 5/12/2014 8:40:30 PM

+1 Boost

Chrysler should definitely sell Fiat.