Thu Apr 26, 2012, 07:28 AM
shawn703 (2,639 posts)
Chrysler reports best quarterly net earnings in 13 years as bankruptcy memory fades
Source: Washington Post
DETROIT ó Chrysler followed its strong first-quarter sales with a big profit, sending its 2009 brush with financial death farther into the rearview mirror.
The Auburn Hills, Mich., company made a net profit of $473 million, its best quarter in 13 years, mainly on the back of strong U.S. sales. From January through March, Chryslerís sales were up 39 percent as customers bought more Ram pickups, Jeep Grand Cherokee SUVs and Chrysler 200 midsize sedans.
Not bad for a company that almost died three years ago. A government auto task force deadlocked on whether to save the company in 2009, with the tie broken by President Barack Obama.
Chryslerís first-quarter profit was more than four times the $116 million that the company made in the first quarter of last year. It was Chryslerís best performance since the third quarter of 1998 when it made $682 million during the pickup truck and SUV boom.
Read more: http://www.washingtonpost.com/business/chrysler-reports-best-quarterly-net-earnings-in-13-years-as-bankruptcy-memory-fades/2012/04/26/gIQAN7xNiT_story.html
Better profit than experienced during the entire presidency of the biggest disaster in American history.
Which party is better for the economy again?
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