Chrysler Posts $1.6B Q4 Net Income
The Chrysler Group reported a net income of $1.6 billion for the fourth quarter today, aided by a one time tax gain of $962 million.
It’s quite the contrast compared to a year earlier, when Chrysler netted $378 million. Adjusted net income for the quarter was $659 million while fourth-quarter revenue saw a bump to $21.2 billion thanks in part to 25,000 Jeep Cherokees being held over past October 1 to recalibrate its transmission software.
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For all of last year, Chrysler posted net income of $2.8 billion, which is up 65 percent ($1.7 billion) compared to 2012. Adjusted net income for 2013 was $1.8 billion.
It’s the third straight year the American automaker has turned a profit while seeing a boost in U.S. market share of two-tenths of a percentage point to 11.6 percent in 2013. The automaker’s U.S. sales rose 9 percent last year and globally, Chrysler delivered over 2.6-million vehicles including those from Fiat.
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[Source: Automotive News]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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If that new 200 drives as good as it looks, those numbers will just keep rising!