[Allpar News System]

Chrysler CEO Sergio Marchionne reported earnings to employees today, noting “solid performance” with net income of $507 million, 16% more than the second quarter of 2012. This is the eighth consecutive quarter of net profit, and the number would have been $23 million higher if a loss related to loan and credit changes had not been deducted. Modified operating profit rose 7% to $808 million, thanks to a 5% increase in shipping volumes. The “voluntary safety campaign” and “customer satisfaction action” on Jeep Grand Cherokee and Liberty, to reduce risk of injury from rear collisions, resulted in a $151 million charge. Net revenue was $18.0 billion for the second quarter of 2013, an increase of 7% Q2-2012. Net revenue was $33.4 billion for the first half of 2013. The company claimed 634,000 sales worldwide in the second quarter, up 10% from the same period in 2012. Sales rose in the..

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[jerseyjoe]

Sergio stepped in it when Chrysler was dumped in his lap. Hope he can attract some of the old talent back to assist in his goals.

 

[UN4GTBL]

Shipping volumes up by 5%. Not what I was expecting vs. last year.

 

[nickman]

From the Morning Shift: http://jalopnik.com/chrysler-turns-monster-507-million-profit-960849590

Chrysler Turns Monster Profit

Zetsche Under Pressure

...sweet, sweet irony.

 

[jerseyjoe]

Shipping volumes up by 5%. Not what I was expecting vs. last year.

The competition is not sitting still in a difficult market.

 

[LXbuilder]

From the Morning Shift: http://jalopnik.com/chrysler-turns-monster-507-million-profit-960849590

Chrysler Turns Monster Profit

Zetsche Under Pressure

...sweet, sweet irony.

Thanks for the post, the Dumbler Benz news just made me smile.

 

[Dave Z]

Oh, me too. Though I like Dieter Zetsche, I have no love for Mercedes. That company would be in severe difficulty if they hadn't squeezed the blood out of Chrysler, Mitsubishi, Bombardier, Freightliner ...

 

[JTE]

I can close my eyes and picture DZ demanding his team to double sales.

 

[MoparNorm]

I can close my eyes and picture DZ demanding his team to double sales.

:lol:
I don't know if you read the article, but THAT is exactly what he said.

 

[Erik Latranyi]

I can close my eyes and picture DZ demanding his team to double sales.

At Chrysler, Daimler increased sales by building units and filling empty parking lots. Well, Detroit has plenty of space to park all those Mercedes!!!!!

 

[superduckie5000]

There is Problems With Getting Enough Parts. Well Marchionne Said It Too.

From a Report in Automotive News:
"Marchionne said Chrysler continues to have issues with the ability of its suppliers to keep up with production.
“We've had issues at most of our plants trying to keep up with demand,” Marchionne said. “We've lost volumes on a steady basis,” from not having adequate supplies of components, but he said the company was trying to reduce the occurrence of production stoppages."

Read more: http://www.autonews.com/article/20130730/OEM/130739993#ixzz2aXWBKqHt

TMD
"Such a Problem"

 

[MoparNorm]

Actually it is, "such a problem" as it's very, very expensive to overhead costs and worker morale.
It's the bane of outsourcing. One tiny part can hold up literally millions of dollars worth of production.
It's a never ending battle and long hours for those managers dealing with the problem.

 

[UN4GTBL]

From the Morning Shift: http://jalopnik.com/chrysler-turns-monster-507-million-profit-960849590

Chrysler Turns Monster Profit

Zetsche Under Pressure

...sweet, sweet irony.

I just love it.

The competition is not sitting still in a difficult market.

I was expecting a negative number with the lack of Liberty, lower minivans, etc

From Jalopnik:

I like that.

 

[IMPERIAL4EVER]

Although I am happy to see the sales gain, alittle concerned that it once again comes upon sales of SUVs and pickups. How is the "Chrysler" brand doing?

 

[MoparNorm]

Although I am happy to see the sales gain, alittle concerned that it once again comes upon sales of SUVs and pickups. How is the "Chrysler" brand doing?

ALL manufacturers are seeing an uptick in pickups and CUV's, it's what the market place wants.
I'd be concerned if Chrysler didn't have a corresponding increase in those market slots.
There should be a model breakdown after the end of the month.

 

[dakrt99]

I just love it.



I was expecting a negative number with the lack of Liberty, lower minivans, etc

From Jalopnik:

I like that.

I wonder if they have an emergency facelift, waiting-in-the-wings, just in case the bottom falls out?

 

[MoparNorm]

I wonder if they have an emergency facelift, waiting-in-the-wings, just in case the bottom falls out?

That emergency facelift had time to already be completed...and save them millions.
That's a car that would sell.
Jeep didn't need a paradigm, Jeep IS the paradigm.

 

[68RT]

That is a 5% increase over 2012 which also was a big increase. Suppliers are having issues ramping up as they do not want another 2007/2008 financial bath. It also has to do with total plant capacity (Jeep) and it would have been more if the rollouts had occurred on schedule. Overall not that bad.

 

[PCRMike]

Some of those comments are totally brainless. Sheesh. Some folks don't realize that FIAT cant touch Chrysler's cash, so they spew hatred instead of getting informed. Sounds like politics. LOL (That was a non-partisan statement FWIW)

 

[GuidoFL]

"Supplier problems" ? Yes indeed the industrial parks around metro Detroit looked like ghost towns last time I went thru some of them. For sale and auction signs as far as you could see. Not only that the skilled help that made those places function are long gone. Yet attracting new recruits is a major problem to a industry hooked on offshore suppliers aka slave labor wages. Even the old job shop owners have given up in disgust and moved on. The few recruits are not of the caliber needed to produce high quality items. So this issue is not going away anytime soon.