Chrysler Group’s First Profit Since Mid-2006

[Judi Lynn]

Source: French Tribune

Chrysler Group’s First Profit Since Mid-2006
Submitted by Pierrot Durand on Tue, 05/03/2011 - 10:34

“But success is incredibly temporary”, he warned, speaking in an earnings webcast with analysts and media Monday. “First quarter is done. We have a lot of quarters to do”, said Sergio Marchionne, while the Chrysler Group claimed for the earning of $116 million in the first quarter, a tremendous hike from the loss of $147 million, a year back.

The higher vehicle sales during the first quarter credits for the profit at the same time, the company has touched the figures that can figure the profit, for the first time since the mid of year 2006.

Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co., the giant companies of Japan have benefited most from Detroit's decades. The natural disaster has imparted unsympathetic losses on the production of all these big giants and is expected to remain in the same dilemma throughout the current quarter.

According to the industry analyst, Toyota will lose approximately $2 billion in the quarter ending in the June while Nissan is believed to lose around $1 billion. The company can look forward to a steady increase because of its associate Fiat SpA from Italy is helping to establish the name of the company in South American markets.



Read more: http://frenchtribune.com/teneur/114925-chrysler-group-s-first-profit-mid-2006