Chrysler announced on Monday that it earned $381 million during the third quarter of 2012, marking the company's sixth straight quarter in the black. The Auburn Hills-based automaker's vehicle deliveries were also up significantly during the period.
Chrysler's recorded a net income of $381 million during the third quarter, representing a sharp 80 percent improvement over the $212 million the company earned in Q3 of 2011. Chrysler's net revenue for the quarter was $15.5 billion, up 18 percent over the previous year.
Chrysler's third quarter results are in sharp contrast to the 2009 version of the company so often highlighted by the presidential campaign. Chrysler was on the verge of closing its doors for good in 2009 before a federal bailout and tie-up with Italy's Fiat saved the company in the eleventh hour.
“We’ve changed the conversation at Chrysler Group,” said Sergio Marchionne, Chrysler Group LLC Chairman and Chief Executive Officer.
“We continue to work feverishly and are pleased to see that our all-consuming aspiration for excellence is translating into results. We are confirming guidance for the year, and expect Free Cash Flow to be well in excess of $1 billion.”
Chrysler sold 556,000 vehicles worldwide during the July-September period, up 12 percent from last year.