U.S. sales boost Chrysler profits
July 31 , 2012
Chrysler recorded a net profit of $436 million in the second quarter due to a rise in sales in its home U.S. market.
The figure compares with a loss of $370 million during the same period last year.
According to the company, its U.S. market share increased due to a 32% rise in retail sales there.
Chrysler has a meagre presence in Europe and gets nearly three quarters of its sales from the U.S.
Revenue for the quarter sat at $16.8 billion, up 23 percent the previous year.
Last year’s loss was due to a $551 million charge over repaying government bailout loans.