Filed under: Chrysler, Dodge, Jeep, Earnings/Financials, Fiat, Ram, SRT



Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $1.7 and $2.2 billion, according to Automotive News.

In addition to the adjusted net income forecast, Chrysler tweaked its operating profit from $3.8 billion to between $3.3 and $3.8 billion. This has gone largely unexplained by Chrysler, perhaps hoping the news of a three-percent increase in its transaction prices for Q2 will allow it to sweep this adjustment under the rug.

The star of the show for Chrysler has been its US sales, which saw a 10-percent jump, both bettering the industry average of eight percent and improving over the same stretch of 2012. As with the increase in transaction prices, Chrysler has the new Ram pickup and Jeep Grand Cherokee to thank. Perhaps most worrying from this report, though, is that every brand in the automaker's stable saw an increase in sales... except for the Chrysler brand itself.

Chrysler's minor woes aside, the second quarter has largely been a good one for American brands, with Chrysler joining Ford and GM in seeing healthy profits on the backs of strong new product. Chrysler CEO Sergio Marchionne also released a letter to the company's employees about all of this, which you can read over at The Detroit News.Continue reading Chrysler banks $507 million in Q2, trims 2013 earnings forecast

Chrysler banks $507 million in Q2, trims 2013 earnings forecast originally appeared on Autoblog on Tue, 30 Jul 2013 10:01:00 EST. Please see our terms for use of feeds.



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