Chrysler reports $436 million profit for 2nd quarter
Photographer: Getty Images
Copyright Getty Images
Posted: 07/30/2012
DETROIT (WXYZ) - Chrysler is reporting a $436 million profit for the second quarter.
That represents a 141% improvement over the second quarter last year when Chrysler posted a net income of of $181 million.
However, that was before the company made a $551 million repayment of its government loans during the 2nd quarter of 2011.
The company is reporting a worldwide increase of vehicle shipments, saying they shipped 630,000 cars in the second quarter of 2012. That's compared to the 514,000 vehicles shipped in the second quarter of 2011.
Worldwide vehicle sales also increased year-over-year, up 20% to a total of 582,000.
Chrysler is also reporting an increase in U.S. market share to 11.2%, up from 10.6% a year ago. The was driven by a 32% increase in U.S. retail sales.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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