Just one day after the United Auto Workers announced that their workers had voted (sort of) to ratify the new 4-year labor contract with the Chrysler Group, Chrysler has announced their financial results for the 2011 Q3 – showing revenue of $13.1 billion and a profit of $212 million while moving almost a half million vehicles around the world.
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The biggest number from Chrysler’s 2011 Q3 financial statements is the revenue of $13.1 billion dollars – up 19% from the $11 billion in revenue from the same period in 2010. This revenue helped the company to report a profit of $212 million in the third quarter of 2011 which amounted to an incredible swing from the $84 million dollar loss posted by Chrysler in Q3 of 2010. In addition to other sources of revenue, the Chrysler Group reached these numbers by selling over 496,000 vehicles around the world.
“In the third quarter, Chrysler Group achieved increased sales and positive financial results, totally in line with the plan we laid out in November 2009. And in October, together with the United Auto Workers, we crafted a solid four-year contract that will support us in our growth plans and significantly reward our employees for their contribution to the revival of Chrysler,” said Sergio Marchionne, Chairman and Chief Executive Officer, Chrysler Group LLC. “This house continues to be fully focused on financial performance and making outstanding cars and trucks by fully leveraging its alliance with Fiat.”
Chrysler has shown strong growth throughout 2011, frequently leading the American auto industry in year over year growth so it comes as no surprise that their quarterly numbers show so much promise for the company. One of the key additions for Chrysler will be the introduction of new models based on popular, fuel efficient European models from Fiat and other companies under the Fiat SpA halo, like Alfa Romeo. The first such Alfa product to hit US shores will be the replacement for the Dodge Caliber, which is a major part of the American industry and one in which Dodge has failed to really be competitive in past years. There are more new models expected from the Chrysler Group that will debut over the next few months and as do they, the smallest of the Detroit Big 3 will look to have a stronger hand in some major American segments…a move that could help keep Chrysler on the rise.
Other Chrysler News:
The UAW ratifies Chrysler contract despite voting split
The Ram 392 Quick Silver headed to SEMA 2011 looking like the Ram SRT8
The Dodge Challenger SRT8 ACR coming to the 2011 SEMA Show
Chrysler expands the 2012 Ram Power Wagon lineup
Marchionne confirms diesel Jeep Grand Cherokee for 2013
Major Chrysler UAW locals vote "no" on the new contract
Marchionne: no more Dodge Caravan after 2012
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