Although Chrysler is now a privately held company and therefore isn’t required to divulge its financial standings, the Michigan automaker has been quite open about its balance sheets. Company president Jim Press has continued that trend by announcing that Chrysler earned a gross profit of $1.1 billion.
Although a $1.1 billion gross profit from Chrysler seems staggering – especially since General Motors and Ford posted first quarter losses of $15.5 and $8.7 billion, respectively – Press’ announcement has to be taken with a grain of salt. That figure was reached before EBIDA – or earnings before interest, depreciation and amortization – according to Motor Trend, so once a little more accounting is run, the bean counters at Chrysler will likely have to swap out their black pens for red ones.
So while it’s not completely good news over at Chrysler headquarters, it’s at least a positive sign that the struggling automaker is still turning a gross profit. But with gas prices still hovering around record highs and Chrysler’s lineup set to rely on trucks and SUVs for the foreseeable future, it remains to be seen just how long Chrysler will be able to keep reporting any semblance of good news.
