Chrysler Announces $464 Million Third-Quarter Net Income
Chrysler announced its third quarter earnings today, noting $464 million in net income, a 22-percent gain from the $381 million earned during the third quarter of last year. This marks the ninth consecutive quarter of positive net income, Chrysler says.
Chrysler earned $17.6 billion in net revenue over the third quarter of 2013. Chrysler's third quarter revenue is up 13.5 percent versus the third quarter of last year. Chrysler attributes the increase in pre-tax profit to a boost in shipments of the hot-selling Ram 1500 and Jeep Grand Cherokee, the automaker's best-sellers, in that order.
Chrysler has sold 262,787 Ram 1500, and HD trucks as of the end of September. Ram pickups are currently the fifth-best selling nameplate in the U.S. The Ram 1500, the volume seller of the Ram truck lineup, was significantly updated last year with a new eight-speed automatic transmission. This year the Ram 1500 is updated with a new "EcoDiesel" engine. The Ram HDs also get major updates for 2014. Chrysler has also sold 128,697 Jeep Grand Cherokees through October 1. The Grand Cherokee also got a major update for 2014, including Chrysler's eight-speed automatic across the lineup, an available EcoDiesel engine, and a face-lift. Chrysler's third-best seller is the Jeep Wrangler, with 119,941 sold so far this year. The Wrangler was last updated for 2012.