Chrysler Group Up 177 Percent Over June 2010
Chrysler Group LLC recently announced its preliminary financial results for
the second quarter (Q2) 2011, demonstrating continued improvement in
its operating and financial performance. Chrysler Group LLC achieved modified operating profit of $507 million in Second Quarter 2011, up 177 percent from Q2 2010. They also fully repaid their bail-out loans, six years ahead of schedule. Net Revenues in Q2 2011 were $13.7 billion, up 30 percent from $10.5 billion in Q2 2010.
In Q2 2011, Net Revenues increased 30 percent to $13.7 billion compared
to Q2 2010. The increase was primarily due to increased volumes and
positive pricing and mix attributable to the 16 all-new or significantly
refreshed products in the marketplace. First half (H1) 2011 Net
Revenues totaled $26.8 billion, up 33 percent from H1 2010.
“There is no doubt that Chrysler Group has taken a huge step forward
this quarter,” said Sergio Marchionne, Chief Executive Officer, Chrysler
Group LLC. “Refinancing our debt and repaying our government loans six
years early, reinforces our conviction that we are on the right path to
rebuilding this Company and restoring it to its rightful place on the
global automotive landscape.
“We are changing both the image and substance of our company in order to
regain the faith of consumers. There is no substitute for hard work and
we are committed to continuing to deliver on the business plan numbers
we outlined,” added Marchionne.
Content courtesy of Chrysler Group
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