Chrysler logs 22% gain in net income in second quarter of 2014

Article by Christian A., on August 9, 2014

Chrysler Group posted a 22-percent jump in net income in the second quarter of 2014 to $619 million, thanks to record Jeep sales and strong demand for its pickups. The carmaker saw its revenues in the quarter gain 14 percent to $20.5 billion.

The jump allowed Chrysler to capture 0.8 percentage points of market share in the United States to 12 percent after selling 533,000 vehicles in the period, according to the Automotive News Data Center. Global sales at Chrysler jumped 12 percent to 723,000.

Its Jeep brand logged a 43-percent climb in global sales in the second quarter of 2014 to 269,000 units. The Ram brand surged 15 percent in the period to 145,000 vehicles. According to the carmaker, its total sales in the US soared 15 percent in the second quarter of 2014.

Including sales of vehicles made for other carmakers, Chrysler delivered just over 727,000 vehicles in the quarter globally. Chrysler had cash of $13.3 billion (up from the $11.9 billion a year earlier) and had a gross industrial debt of $13 billion (up from the $12.5 billion a year ago).

The carmaker reiterated its full-year 2014 outlook which entails an adjusted net income of between $2.3 billion and $2.5 billion on net revenue of about $80 billion.

CEO Sergio Marchionne quipped that Chrysler is intending take several steps in the remaining half of 2014 to improve margins like speaking with suppliers on what he dubbed as their “envious” margins.

He said he is “absolutely mesmerized” by double digit performances on the supplier base. Marchionne remarked that Chrysler will approach its supplier base in a constructive way to determine how they can participate in their well-being. [source: Chrysler]

Topics: chrysler, income

If you liked the article, share on:

Comments

Recommended

We first heard of the fifth generation SEAT Ibiza earlier this year, and last week, the company finally revealed the all-new Ibiza at the international launch in Barcelona. The new...
by - May 22, 2017
The aftermath of the Takata airbag recall still largely resounds in the automotive industry, as big automotive companies like BMW, Mazda, Subaru and Toyota were extensively hit with what is...
by - May 22, 2017
Amid reports that major rival Volkswagen would cease producing 2016 and 2017 model year diesel cars following the wake of the "Dieselgate" scandal, it’s believed that Chevrolet sees its opportunity...
by - May 22, 2017
Honda recently whips out a new feature for the S660 Bruno Leather Edition. Any guesses? Well, it’s going to be an iPhone app that goes by the name Rev Beat....
by - May 22, 2017
And so it goes, Ford is not at all closing its doors to an all-electric F-150 pickup. The American manufacturer initially laid out its plans for an F-150 hybrid earlier...
by - May 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries