Chrysler Returned To Profit

American manufacturer Chrysler announced its first profitable quarter after exiting bankruptcy two years ago. The company reported profit of $ 116 million U.S. dollars and 13.1 billion revenue in the first quarter of 2011.

After two years out from under bankruptcy protection under the wing of Fiat group, led by Sergio Marchione, Chrysler Group LLC announces its first profitable quarter.

GM sales rose 18% in the first three months of 2011 amid global economic improve and customers have responded favorably to the new range of Chrysler models and vans.

"The sales and financial performance of Chrysler Group's first quarter shows that our line of young models on the market is gaining momentum and resonate with customers," said Sergio Marchionne, CEO of Chrysler.

Sales in the U.S. market was revitalized by the new Jeep Grand Cherokee, which jumped by 64%, and the Chrysler 200 sedan, whose sales increased by 40% compared to its predecessor, the Sebring.

Chrysler reported a profitable fourth quarter in 2007, immediately after becoming an independent company, Daimler AG and selling the stake to Cerberus Capital Management. The latter, however, has not invested the money necessary to overcome the biggest auto market declines of the last 25 years, and as a result Chrysler was about to enter into bankruptcy in late 2008.

When the U.S. government intervened, allowing state aid of 10 billion dollars and putting it on the head Marchionne's management after he came out of bankruptcy protection in June 2009.


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