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.
"Before I was old enough to walk, my dad was taking me to various types of racing events, from local drag racing to the Daytona 500," says Patrick Rall, a lifetime automotive expert, diehard Dodge fan, and respected auto journalist for over 10 years. "He owned a repair shop and had a variety of performance cars when I was young, but by the time I was 16, he was ready to build me my first drag car – a 1983 Dodge Mirada that ran low 12s. I spent 10 years traveling around the country, racing with my dad by my side. While we live in different areas of the country, my dad still drag races at 80 years old in the car that he built when I was 16 while I race other vehicles, including my 2017 Dodge Challenger SRT Hellcat and my 1972 Dodge Demon 340.
"Although I went to college for accounting, my time in my dad’s shop growing up allowed me the knowledge to spend time working as a mechanic before getting my accounting degree, at which point I worked in the office of a dealership group. While I was working in the accounting world, I continued racing and taking pictures of cars at the track. Over time, I began showing off those pictures online and that led to my writing.
"Ten years ago, I left the accounting world to become a full-time automotive writer and I am living proof that if you love what you do, you will never “work” a day in your life," adds Rall, who has clocked in time as an auto mechanic, longtime drag racer and now automotive journalist who contributes to nearly a dozen popular auto websites dedicated to fellow enthusiasts.
"I love covering the automotive industry and everything involved with the job. I was fortunate to turn my love of the automotive world into a hobby that led to an exciting career, with my past of working as a mechanic and as an accountant in the automotive world provides me with a unique perspective of the industry.
"My experience drag racing for more than 20 years coupled with a newfound interest in road racing over the past decade allows me to push performance cars to their limit, while my role as a horse stable manager gives me vast experience towing and hauling with all of the newest trucks on the market today.
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