Chrysler Group 2012 first-quarter net income more than quadruples to $473 million

Chrysler Group LLC reported today that its preliminary net income for the first quarter of 2012 quadrupled to $473 million, up more than 300 percent from $116 million a year ago. The company saw a 40 percent increase in U.S. retail sales.

“Another positive quarter – built on sales gains that have surpassed the industry average – is affirmation that the Chrysler team is maintaining its focus,” said Sergio Marchionne, Chairman and Chief Executive Officer of Chrysler Group LLC. “We continue to deliver on the targets in our five-year plan and are now focused on successfully launching the Dodge Dart, a car that is a true melding of Chrysler’s and Fiat’s engineering and styling strengths.”

Revenue for the first quarter of 2012 was $16.4 billion, a jump of 25 percent from $13.1 billion in the first quarter of 2011.

U.S. market share increased to 11.2 percent for the first quarter, up from 9.2 percent a year ago.

– By: Omar Rana