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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