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Chrysler net income soars; sees even brighter future

Keywords: Tags  Chrysler Group, earnings report, corinna petry

CHICAGO — Chrysler Group LLC’s net income soared to nearly $1.67 billion last year from $183 million in 2011, driven by a 19.6-percent increase in revenue to more than $65.78 billion on an 18-percent increase in global vehicle shipments.

Net income for the three months ended Dec. 31 jumped 68 percent to $378 million from $225 million in the same period a year earlier on a 13.4-percent increase in revenue to more than $17.15 billion.

Auburn Hills, Mich.-based Chrysler sold about 2.2 million vehicles worldwide last year, up from just below 1.9 million in 2011. Sales in the United States jumped 20.4 percent to more than 1.65 million vehicles (an 11.2-percent market share) from 1.37 million (a 10.5-percent share) in 2011. Average transaction prices remained steady despite a 6.6-percent rise in average sales incentives.

Chrysler built 2.4 million passenger cars and trucks in North America last year, up 18.8 percent from just under 2 million vehicles in 2011.

The company estimates 2013 will see total U.S. industry sales of about 15.5 million passenger cars and light trucks, with 2014 moving up to 15.7 million vehicles. Chrysler plans to ship between 2.6 million and 2.7 million vehicles worldwide this year, and up to 2.8 million in 2014. Some of those shipments reflect contract manufacturing, which is separate from retail sales.

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