Hot on the heels of Ford’s earnings announcement for the year that was, Chrysler today reported a 2012 net income of $1.7 billion, up substantially from the comparatively minuscule $183 million profit earned in 2011 when it repaid its US government loans.
Chrysler’s good year ended with an excellent fourth quarter that saw net income rise 68 percent from $225 million in 2011 to $378 million. Where are all those extra earnings coming from? Market share, which Chrysler saw increase to 11.4% last year on sales of 1.65 million vehicles. In fact, the Auburn Hills, MI-based automaker out-paced the industry’s market growth of 13 percent last year with sales up 21 percent for the year.
The company also revealed an updated product plan for its Chrysler Group and Fiat brands that looks all the way out to 2016. It’s an updated version of the plan introduced in 2009 shortly after Fiat took control of the American automaker, and includes such new additions as an Alfa Romeo model, likely the 4C, to be introduced in the US this year, as well five more Alfa models by 2016. Likewise, Fiat will be growing by an additional seven models in the coming few years.
As for the Chrysler Group’s brands, many new models and refreshes are being delayed a year or two, including a Ram-badged version of the Fiat’s small commercial van, a small Fiat-built Jeep and the return of the seven-seat Grand Wagoneer. A number of vehicles from Dodge, however, are getting surprise refreshes this year and next, and the new Viper looks scheduled for an update in 2015.
Chrysler earns $1.7B in 2012, revises product plans for US originally appeared on Autoblog on Wed, 30 Jan 2013 10:59:00 EST. Please see our terms for use of feeds.