Chrysler Group reports net income of $212 million for third quarter

Chrysler Emblem

Chrysler today reported a net income of $212 million for the third quarter – that compares fairly well to a net loss of $84 million a year ago. The Auburn Hills automaker attributes the increase in sales to its alliance with Fiat.

Chrysler reported a net revenue of $13.1 billion for the third quarter of 2011, a 19 percent increase from the third quarter of 2010.

“In the third quarter, Chrysler Group achieved increased sales and positive financial results, totally in line with the plan we laid out in November 2009. And in October, together with the United Auto Workers, we crafted a solid four-year contract that will support us in our growth plans and significantly reward our employees for their contribution to the revival of Chrysler,” said Sergio Marchionne, Chairman and Chief Executive Officer, Chrysler Group LLC. “This house continues to be fully focused on financial performance and making outstanding cars and trucks by fully leveraging its alliance with Fiat.”

– By: Omar Rana