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U.S. sales boost Chrysler profits

  • 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.