Blame Obama again...Chrysler posts best profit in 13 years
Car giants Volkswagen and Chrysler have both reported strong rises in first-quarter profits as the global car market recovers.
Volkswagen's first quarter net profit nearly doubled to 3.2bn euros ($4.2bn; £2.6bn) compared with a year ago.
Earlier, Chrysler - now controlled by Italy's Fiat - announced net profits of $473m, its best quarterly profit in 13 years.
Both companies said sales of its models had improved.
Germany's Volkswagen - whose brands include Audi, Skoda, Seat and Bentley - said it was outperforming the market in all regions and deliveries to customers were up by 11.1% on the year to 2.2 million vehicles.
VW's models were particularly in demand in Russia where sales rose 77% to 66,000 vehicles.
The carmaker said it still aimed to make record deliveries beyond last year's record of 8.3 million vehicles.
VW shares were up by more than 5% in early afternoon trading in Frankfurt.
http://www.bbc.co.uk/news/business-17853002
