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Increased shipments spur Chrysler earnings

Keywords: Tags  Chrysler, earnings report, vehicle shipments, Fiat, Corinna Petry

CHICAGO — Chrysler Group LLC’s earnings jumped in the third quarter thanks mainly to increased vehicle shipments.

The Auburn Heights, Mich.-based automaker posted net income of $464 million for the three months ended Sept. 30, up 21.8 percent from $381 million in the same period last year on a 13.5-percent increase in sales to more than $17.56 billion.

Chrysler’s worldwide vehicle shipments totaled 593,000 in the third quarter, 6.1 percent higher than 559,000 a year earlier, putting year-to-date shipments at more than 1.8 million vehicles.

The automaker expects full-year worldwide shipments to total 2.6 million vehicles, generating revenue of $72 billion to $75 billion and net income of $1.7 billion to $2.2 billion.

Chrysler posted year-to-date net income of $1.16 billion, down 10.1 percent from $1.29 billion in the first nine months of last year despite a 4.8-percent increase in sales to more than $50.9 billion.

Turin, Italy-based parent Fiat SpA’s shipments in North America totaled 505,000 vehicles in the third quarter, unchanged from a year earlier.

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