Chrysler reports best quarterly net earnings in 13 years as bankruptcy memory fades
Source: Washington Post
DETROIT Chrysler followed its strong first-quarter sales with a big profit, sending its 2009 brush with financial death farther into the rearview mirror.
The Auburn Hills, Mich., company made a net profit of $473 million, its best quarter in 13 years, mainly on the back of strong U.S. sales. From January through March, Chryslers sales were up 39 percent as customers bought more Ram pickups, Jeep Grand Cherokee SUVs and Chrysler 200 midsize sedans.
Not bad for a company that almost died three years ago. A government auto task force deadlocked on whether to save the company in 2009, with the tie broken by President Barack Obama.
Chryslers first-quarter profit was more than four times the $116 million that the company made in the first quarter of last year. It was Chryslers best performance since the third quarter of 1998 when it made $682 million during the pickup truck and SUV boom.
Read more: http://www.washingtonpost.com/business/chrysler-reports-best-quarterly-net-earnings-in-13-years-as-bankruptcy-memory-fades/2012/04/26/gIQAN7xNiT_story.html
Better profit than experienced during the entire presidency of the biggest disaster in American history.
Which party is better for the economy again?
JNelson6563
(28,151 posts)Go Chrysler! Go Detroit!
Julie
WilmywoodNCparalegal
(2,654 posts)safeinOhio
(32,688 posts)business, labor and government. An idea imported from Detroit.
jpak
(41,758 posts)WI_DEM
(33,497 posts)xtraxritical
(3,576 posts)Go Barack
madrchsod
(58,162 posts)fiat was using chrysler`s profits to shore up fiat`s bottom line.
KinMd
(966 posts)....saving thousands of jobs, in PRIVATE industry ...why it's unamerican!
DCBob
(24,689 posts)survival of the fittest... thats the Republican way.