Chrysler Group LLCs earnings rose strongly in the second
quarter, which the automaker said was driven primarily by an
increase in vehicle shipments.
The Auburn Heights,
Mich.-based automaker posted net income of $507 million for the
three months ended June 30, up 16.2 percent from $436 million
in the same period last year on a 7.1-percent increase in sales
to more than $17.99 billion.
"Chrysler Group is
poised for a very strong performance in the second half of the
year," chairman and chief executive officer Sergio Marchionne
said in a statement. "The timing of (our) product launches and
capacity increases causes this years performance to be
biased to the second half."
worldwide vehicle shipments totaled 660,000 in the second
quarter, 4.8 percent higher than 630,000 a year earlier,
putting year-to-date shipments at 1.2 million vehicles.
sales increased 10.5 percent to 643,000 from 582,000 in the
second quarter of last year, driven largely by a 17-percent
increase in Chryslers retail sales in the United States.
Worldwide sales in the first half totaled 1.2 million
Industrywide sales in
the United States rose 8 percent to more than 4.2 million
vehicles in the first half, while sales in Canada increased 5
percent to 538,000 vehicles.
U.S. average retail
transaction prices in the second quarter were up 2.8 percent
from a year earlier, but Chrysler said that average incentives
were 6.7 percent higher in the same comparison, based on J.D.
Power & Associates studies.