Jump to content
  • William Maley
    William Maley

    Chrysler Announces $1.7 Billion In Net Income, Revises Product Plan

    Sign in to follow this  

    By William Maley

    Staff Writer - CheersandGears.com

    January 30, 2013

    Today, Chrysler announced its earnings for 2012 and the results are staggering. The company reported a net income of $1.7 billion, up substantially from minuscule $183 million profit earned in 2011. Chrysler also saw their 4th quarter net income increase from $225 million in 2011 to $378 million in 2012. The massive increases is due to Chrysler's market share increasing to 11.4%.

    Chrysler also unveiled a updated product plan for all of its brands. The big news is that Chrysler and Dodge have dropped their Fiat-based models. Instead, Fiat will introduce five new models including compact and subcompact cars.

    Here is the full breakdown:

    Alfa Romeo:

    • 2013 will hopefully see the arrival of the 4C
    • In 2015, four new models will be arriving.

    Chrysler:

    • Originally Chrysler was to have three small vehicles built by Fiat in 2013. However those have been cut.
    • New 200 is due out in 2014. Another model will get a refresh.
    • 2015 sees three new models

    Dodge:

    • Much like Chrysler, Dodge is dropping two Fiat built models.
    • One model will see a refresh this year.
    • Two models will get a refresh in 2014.
    • New models are coming in 2015 and 2016.

    Fiat:

    • The three Chryslers and two Dodges will become Fiats. Those will be coming in 2015 and 2016.
    • 500L coming sometime this year

    Jeep:

    • 2013 will see new Liberty/Cherokee
    • 2014 is the new subcompact model based on a Fiat platform
    • 2015 sees two new models. One of them is expected to be a new seven-seat Grand Wagoneer
    • 2016 will see two models be refreshed

    Ram:

    • Ram ProMaster (Sprinter replacement) due out sometime in 2013.
    • 2014 will see the Ram van based on the Fiat Doblo
    • 2016 will see two new Rams

    SRT:

    • 2014 will see the 300, Charger, and Challenger get a refresh.
    • 2015 is the Viper refresh.
    • A new model is expected to join in 2016.

    84c8efc3d6bf02f04bc3c8a71a61f672.jpg

    Source: Chrysler

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.comor you can follow him on twitter at @realmudmonster.

    Press Release is on Page 2


    Chrysler Group Reports Full-year 2012 Net Income of $1.7 Billion

    Full-year Modified Operating Profit Totaled $2.9 Billion, Up 47 Percent, and Free Cash Flow Was $2.2 Billion

    • Chrysler Group LLC’s full-year 2012 net income improved more than eight-fold to $1.7 billion, from $183 million a year ago
    • Net revenue for the year was $65.8 billion, up 20 percent from $55.0 billion a year ago; fourth-quarter revenue was up 13 percent to $17.2 billion
    • Modified Operating Profit(b) improved to $2.9 billion for the year, up 47 percent from the prior year; fourth-quarter Modified Operating Profit was up 40 percent to $711 million
    • Cash(d) at year’s end was $11.6 billion compared with $9.6 billion a year ago and $11.9 billion at Sept. 30, 2012; Free Cash Flow(e) for the year was $2.2 billion compared with $1.9 billion a year ago
    • Net Industrial Debt(f) was $1.0 billion at Dec. 31, 2012, an improvement of $1.9 billion from a year ago
    • Worldwide vehicle shipments were 2.4 million for the year, up 20 percent from 2.0 million a year ago; fourth-quarter shipments were 613,000
    • Worldwide vehicle sales for the full year 2012 totaled 2.2 million, up 18 percent from a year ago; fourth-quarter sales were 533,000

    January 30, 2013 , Auburn Hills, Mich. - Chrysler Group LLC today reported preliminary net income of $1.7 billion for the full year 2012, up from net income of $183 million a year ago, exceeding the guidance provided earlier in the year. Full-year 2011 Adjusted Net Income(a) was $734 million, after adjusting for the $551 million loss on extinguishment of debt recognized in the second quarter of 2011.

    “While we are pleased to have achieved strong financial results in 2012, the enterprise we are crafting is not complete,” Chrysler Group LLC Chairman and CEO Sergio Marchionne said. “The goals we’ve set for the year ahead reflect a common desire by everyone from leadership to the shop floor to succeed and sustain the power of the house we are building. Our aim is meaningful, but it is not complicated, and only a preoccupation with quality can achieve it. We pause for a moment to enjoy our accomplishments, but we will not stop. Our continued achievement relies upon maintaining a humble spirit and an intense focus on the integrity of our work. And so we press on.”

    For the fourth quarter, net income was $378 million on revenue of $17.2 billion, up 68 percent from $225 million a year earlier. For the year, the Company reported revenue of $65.8 billion, an increase of 20 percent from a year ago, primarily due to higher vehicle shipments.

    Modified Operating Profit was $2.9 billion for the year, or 4.4 percent of revenue, up 47 percent from $2.0 billion reported in the prior year. The increase resulted from continuing strong sales and pricing, partially offset by an increase in the proportion of sales from passenger cars, including the Dodge Dart and Fiat 500, versus trucks and SUVs; increased research-and-development costs for future models; and increased spending on advertising. Modified Operating Profit for the quarter was $711 million, a 40 percent increase from the same period last year.

    Modified EBITDA© was $5.5 billion for the year, or 8.3 percent of net revenue, an increase of 15 percent from the prior year. For the fourth quarter, Modified EBITDA was $1.3 billion.

    Sign in to follow this  


    User Feedback

    Recommended Comments

    Very Exciting to see, I wonder just how long Fiat can really survive. I still see only a rare Fiat on the road and the two dealerships here have hundereds stocked up. No matter what they do for sales prices, they are not moving cars.

    I am so glad Chrysler and Dodge are not going with Fiat cars. I know many here have said they build exciting quality product, but their style is ugly to me and many around Seattle that I talk to and quality/reliablility is another I hear brought up all the time. Maybe for the east coast being closer to Europe they love and will go with Fiat, but for west coast, seems Asian and American is the way to go. Mini being the lone exception and even then, the Mini dealership here has cut back on what is in stock as they are not selling much also.

    Seems a fickle crowd for compact, subcompact cars.

    Share this comment


    Link to comment
    Share on other sites

    Looks like Chrysler is going to make a few "premium" vehicles (200, 300, Town & Country Crossover), Dodge will make Grand Caravan, Journey, Charger and maybe the Challenger and the Dart, Jeep is Jeep and FIAT will cover other segments of the market. I'm not sure I like this but here's hoping it works.

    Share this comment


    Link to comment
    Share on other sites
    sort of seems like an intent to expand the italian brands...which I don't see being uber successful.

    The line 'The three Chryslers and two Dodges will become Fiats' says to me they want to expand the Fiat presence in NA (and also re-introduce Alfa-Romeo). This could be part of a plan to turn Dodge and Chrysler into smaller niche brands like SRT....or the minimizing of platform sharing w/ Fiat could be so they can be sold off or folded if needed. Likewise for separating Ram from Dodge a couple years ago...

    Edited by Cubical-aka-Moltar

    Share this comment


    Link to comment
    Share on other sites


    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.




  • Similar Content

    • By Drew Dowdell
      After a brief hiatus, Ram is reintroducing the EcoDiesel for the 2020 Ram 1500 and in doing so, snatches away the torque crown held briefly by GM with their inline 6-cylinder diesel. 
      The 3.0 L V6 Diesel in the 2020 Ram produces 480 lb-ft of torque at 1,600 rpm, 20 more than the 460 in the GM Inline-6, while horsepower increases to 260 hp at 3,600 rpm, a bit lower than the GM's 277 hp and the Ford Powerstroke 250 hp.   The EcoDiesel is a DOHC V6 and achieves these numbers with a new generation water-cooled variable geometry turbo charger, higher compression ratio, redesigned cylinder heads, lightweight aluminum alloy pistons, and a redesigned EGR system. 
      The EcoDiesel will be available in all models and configurations, including for the first time, the Ram Rebel.  The 2019 Ram 1500 Classic is offered with the previous generation of this engine. 
      The engine will be produced at FCA's facility in Ferrara, Italy. 
       

      View full article
    • By Drew Dowdell
      After a brief hiatus, Ram is reintroducing the EcoDiesel for the 2020 Ram 1500 and in doing so, snatches away the torque crown held briefly by GM with their inline 6-cylinder diesel. 
      The 3.0 L V6 Diesel in the 2020 Ram produces 480 lb-ft of torque at 1,600 rpm, 20 more than the 460 in the GM Inline-6, while horsepower increases to 260 hp at 3,600 rpm, a bit lower than the GM's 277 hp and the Ford Powerstroke 250 hp.   The EcoDiesel is a DOHC V6 and achieves these numbers with a new generation water-cooled variable geometry turbo charger, higher compression ratio, redesigned cylinder heads, lightweight aluminum alloy pistons, and a redesigned EGR system. 
      The EcoDiesel will be available in all models and configurations, including for the first time, the Ram Rebel.  The 2019 Ram 1500 Classic is offered with the previous generation of this engine. 
      The engine will be produced at FCA's facility in Ferrara, Italy. 
       
    • By Drew Dowdell
      FCA Reports May 2019 U.S. Sales
       
      Ram brand achieves 12th consecutive monthly record as May sales rise 29 percent     Jeep® Grand Cherokee notches best May ever as sales rise 18 percent Dodge Charger reports highest May in six years as sales reach 9,296 vehicles June 3, 2019 , Auburn Hills, Mich. - FCA US LLC achieved three records in May, led by the Ram brand which notched its 12th consecutive monthly sales record as demand for both light-duty and heavy-duty pickup trucks remained strong. 

      It was the best May ever for the Jeep® Grand Cherokee and the highest level of May sales for the Dodge Charger in six years. Overall, total sales rose 2 percent to 218,702 vehicles. Fleet represented 31 percent of total sales during the month. On a year-to-date basis, fleet accounted for 22 percent of sales.

      "On a year-over-year basis we have increased our average transaction prices by more than $3,000 a vehicle and still managed some notable sales increases," said Reid Bigland, U.S. Head of Sales. “In its first full month on sale, our all new Jeep Gladiator pickup truck delivered more than 2,500 vehicle sales, our Ram pickup truck sales soared 33 percent and the Jeep Grand Cherokee delivered its best May sales ever.” 

      See the attached table for the breakdown of brand and nameplate sales.     

       

      Model

      Month Sales

      Vol %

      CYTD Sales

      Vol %

      Curr  Yr             Pr Yr             Change

      Curr  Yr             Pr Yr          Change

      Compass Patriot Wrangler Gladiator Cherokee

      Grand  Cherokee

       

      Renegade

      JEEP BRAND

      14,534                17,327                  -16%

      0                        63                   -100%

      24,530               25,102                   -2%

      2,584                     0                       New

      17,283                23,789                  -27%

      25,394                21,494                  18%

       

      6,001                  9,512                 -37%

      90,326           97,287              -7%

      64,537                72,368              -11%

      12                      502                -98%

      96,930               110,382             -12%

      3,021                     0                   New

      81,384               91,286             -11%

      103,612              91,589               13%

       

      29,959                41,906              -29%

      379,455           408,033            -7%

      Ram  P/U ProMaster Van ProMaster City

      RAM BRAND

      62,250                46,781                  33%

      3,651                  4,092                 -11%

      1,216                  1,011                  20%

      67,117           51,884              29%

      231,382             189,997             22%

      20,775                13,366              55%

      5,784                  5,249              10%

      257,941           208,612           24%

      200

      300

      Town & Country

       

      Pacifica

      CHRYSLER BRAND

      6                        88                    -93%

      2,665                  3,484                 -24%

      0                         1                     -100%

       

      8,232                11,151                -26%

      10,903            14,724               -26%

      35                      842                -96%

      12,953               20,389             -36%

      3                         5                  -40%

       

      38,490               53,910             -29%

      51,481          75,146            -31%

      Dart Avenger Charger Challenger Viper Journey Caravan Durango

      DODGE  BRAND

      0                        29                   -100%

      1                         0                     100%

      9,296                  6,869                  35%

      5,748                  7,005                 -18%

      0                         3                     -100%

      7,642                10,966                 -30%

      16,809                15,487                   9%

       

      8,263                  6,222                  33%

      47,759              46,581               3%

      10                      307                -97%

      1                         2                  -50%

      36,012               34,766                4%

      23,601                30,545              -23%

      2                        14                 -86%

      38,727                41,023               -6%

      59,732               70,511             -15%

       

      31,453               27,378              15%

      189,538           204,546            -7%

      500

      500L

      500X Spider

      FIAT BRAND

      335                     264                    27%

      69                      184                   -63%

      272                     568                   -52%

       

      349                     425                   -18%

      1,025                1,441             -29%

      1,386                 1,908              -27%

      309                     747                -59%

      1,284                 2,711              -53%

       

      1,191                 1,493              -20%

      4,170                6,859             -39%

      Giulia Alfa 4C Stelvio

      ALFA ROMEO

      797                   1,175                 -32%

      14                      19                    -26%

      761                   1,183                 -36%

      1,572                2,377             -34%

      3,578                  5,383              -34%

      82                      95                 -14%

      3,782                  4,538              -17%

      7,442             10,016            -26%

      FCA US LLC

      218,702           214,294                2%

      890,027           913,212            -3%


       
         
       
  • Social Stream

  • Who's Online (See full list)

    There are no registered users currently online

  • My Clubs

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...