It seems like Fiat and Sergio Marchionne are doing their jobs. Just a year and half after coming out of a government-sponsored bankruptcy, Chrysler posted a fourth quarter operating profit of $198 million and $736 for the full year.
“As Chrysler Group’s brand displays at the Detroit auto show confirmed, the Company has lived up to its promise to launch 16 all-new or significantly refreshed vehicles in the past 12 months,” said Sergio Marchionne, CEO of Chrysler. “All of these vehicles bear testimony to Chrysler’s rebirth. Given the positive comments we have received to date, it can safely be said that what Chrysler delivered last year, on both the product and financial fronts, surpassed many expectations.”
Chrysler said it it expects to generate net profits of $200 million to $500 million this year on revenues of $55 billion.
“However, our job is not yet done. We have a lot of work ahead to fulfill our five-year business plan objectives,” said Marchionne.
– By: Omar Rana
Source: Chrysler, Automotive News