Chrysler Posts $690 Million Net Loss in Q1
Despite gaining market share and moving more cars, Chrysler Group posted a $690 million net loss in the first quarter of 2014 due to merger costs.
Fiat and Chrysler have now merged into one entity, and the cost to do so ate into much of Chrysler’s early 2014 profits. The company says that without the cost of the merger factored in, it would have posted a $486 million profit. In total, the merger cost the brand about $1,176 million.
SEE ALSO: Everything you Need to Know About Chrysler’s Five-Year Plan
Chrysler posted the largest market share gain of any major automaker during the first quarter, growing by 1.1 percent in the United States. The American automaker also saw sales jump by 11 percent year-over-year in the first three months of the year.
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Stephen covers all of the day-to-day events of the industry as the News Editor at AutoGuide, along with being the AG truck expert. His truck knowledge comes from working long days on the woodlot with pickups and driving straight trucks professionally. When not at his desk, Steve can be found playing his bass or riding his snowmobile or Sea-Doo. Find Stephen on <A title="@Selmer07 on Twitter" href="http://www.twitter.com/selmer07">Twitter</A> and <A title="Stephen on Google+" href="http://plus.google.com/117833131531784822251?rel=author">Google+</A>
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