By Patrick Rall
The Chrysler Group announced their financial results for the third quarter of 2013 earlier today and with net income of $464 million, Chrysler’s gradual climb out of the grasp of bankruptcy a few years back continues to great momentum.
Chrysler posted revenues of $17.6 billion in the third quarter of 2013 which is an increase of 13.5% compared to the same three months in 2012.
Thanks to the growing popular of the new and continuing Chrysler Group vehicles from Chrysler, Ram, Dodge, Jeep and Fiat, the company was also able to post vehicle shipment numbers of 593,000 units (up 6%) and global vehicle sales of 603,000 (up 8%) which both helped modified operating profit to grow by 22% compared to July, August and September of 2012 – reaching $862 million in 2013 Q3.
“Chrysler Group’s ninth consecutive quarter of positive net income highlights our commitment to producing award-winning vehicles for consumers, such as the Jeep Grand Cherokee and the Ram 1500,” Chrysler Group LLC Chairman and CEO Sergio Marchionne said. “We also are pleased to introduce the already award-winning Jeep Cherokee to the lineup, as it launches into the largest SUV segment in the United States.”
For the first nine months of 2013, the Chrysler Group has posted net income of $50.9 which resulted in annual net income of $1.1 billion and a modified operating profit of $2.1 billion.
To put these numbers in the simplest terms possible, the Chrysler Group is continuing to post better and better numbers each month, quarter and year through a vehicle sales rate increase that stretches back over three years – a fact that no other automaker doing business in the USA can claim.