Chrysler Earnings Rise More Than 800% in 2012
Automaker Chrysler Group LLC, which is controlled by Italy's Fiat SpA, announced this morning that full-year net income for 2012 rose more than 800%, from $183 million in 2011 to $1.7 billion. Revenues rose 20%, from $55 billion in 2011 to $65.8 billion.
The company said that shipments rose 20% as well, from 2 million a year ago to 2.4 million in 2012, and that worldwide sales rose to 2.2 million vehicles. In the fourth quarter, the company sold 533,000 vehicles.
Chrysler also grew its market share year-over-year, from 10.5% in 2011 to 11.2% in 2012. But that is down slightly from a market share gain of 11.3% reported at the end of the third quarter of 2012.
For the current year Chrysler expects to ship 2.6 million to 2.7 million vehicles worldwide. Full-year revenues are forecast at $72 billion to $75 billion, and net income is expected to total $2.2 billion.
According to data from Truecar.com, Chrysler's U.S. sales were off 21.6% month-over-month in January. The research firm expects total U.S. in 2013 to reach about 15.5 million units. Sales in 2012 are estimated at 15.4 million units.
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