Chrysler Group 2012 net income $1.7 billion

The period January to December 2012 saw Chrysler Group record net income to the tune of $1.7 billion. This was an eight fold increase in net income over the $183 million recorded in the same period of the previous year. Besides net income, net revenue for the year was also up 20% as it stood at $65.8 billion as against $55.0 billion of the previous year.

Results were driven by increased sales across the globe and market share gains in the US. It is in US markets where Chrysler is emerging as one of the fastest growing auto makers. Chrysler’s US profits are what are helping the company to offset their losses in Europe where auto sales are diminishing to levels unseen in decades following dismal economic situations causing buyers to steer clear away from company showrooms.

These strong financial results experienced during 2012 show that the company has achieved its goals. Across the US, Chrysler Group sales increased 21% during the past year. Sales increased to $1.65 billion while market share increased to 11.4% from an earlier 10.7%.