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Chrysler posts $381 million Q3 net profit

October 30, 2012 by · Leave a Comment 

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Chrysler Headquarters Pentastar window glass

Chrysler reports that its vehicle sales jumped by 12 percent in the third quarter over the same period in 2011. That step up was enough to bump profits by 80 percent to $381 million on $15.5 billion of net revenue. Moving forward, the automaker expects to see fourth-quarter profit of $210 million, which should help the company realize its forecast of $1.5 billion of net profit for the year. Reuters reports Chrysler CEO Sergio Marchionne expects the automaker’s free cash flow for 2012 to be “well in excess” of $1 billion.

Over the same period, the smallest of the Big Three laid claim to an 11.3-percent slice of the domestic market, thanks largely to a 16-percent jump in US retail sales. More importantly, the manufacturer’s net industrial debt now sits at $693 million, down from $2.2 billion one year ago. You can check out the full press release below for more information.

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Chrysler posts $381 million Q3 net profit originally appeared on Autoblog on Tue, 30 Oct 2012 14:41:00 EST. Please see our terms for use of feeds.

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