[Allpar News System]

Chrysler Group LLC reported preliminary net income of $1.7 billion for 2012, up from $183 million in 2011 and beating guidance provided to analysts. 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. 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% of revenue, up 47% from $2.0 billion in 2011; the change was due to strong sales and more favorable 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; and increased spending on advertising. Modified Operating Profit for the quarter was $711 million, a 40% increase from..

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[MoparNorm]

Chrysler Communications posted this on their Facebook site a few hours ago and I was shocked at the outpouring of anger by the posters there, simply because Chrysler is making money again and providing the service of both transportation and jobs.
We live in some weird times...

 

[jerseyjoe]

Looking like the good old days except with a great partner.

 

[unverferth]

Let's go racing !!!!!!!!!

(just had to say it)

 

[AutoTechnician]

Chrysler Communications posted this on their Facebook site a few hours ago and I was shocked at the outpouring of anger by the posters there, simply because Chrysler is making money again and providing the service of both transportation and jobs.
We live in some weird times...

I read the post, 3-4 negative comments out of 20 is not an outpouring.

 

[dakrt99]

You know what profits lead to - cool cars. Just wait for Chrysler to start making the money Ford is and we will see some cool freaking cars. Heck, we are going to see a SC 6.2 Hemi! Chrysler is starting to roar. My next car is 2.5 years away, I think I am going to have a very difficult choice. :shifting:

 

[MoparNorm]

I read the post, 3-4 negative comments out of 20 is not an outpouring.

When it was first posted (see my time stamp) the first 5 comments out of 7 total were negative.

 

[marlon_jbt]

Norm, it looks to me like these negative comments are coming from disgruntled retirees who feel entitled and people who took the buyout.

 

[FreeLantz]

Norm is right about the public perception of "profit" these days. Profitable businesses (like Apple for instance) are scorned and unprofitable businesses are often praised as being "generous" or setting some golden example others should follow.

Where Chrysler is concerned my only concern is how much of this profit will go back into Chrysler R&D and the creation of those "cool cars" we want to see, and how much will go to propping up the decidedly unprofitable European side of the business.

 

[codypet]

Yea how dare a company improve itself after one of the biggest economic downturns in history. :dunno: On a serious note....good for Chrysler. Its hard to believe that 4 years have passed since we questioned if there'd even be a Chrysler anymore.

 

[MoparNorm]

Norm, it looks to me like these negative comments are coming from disgruntled retirees who feel entitled and people who took the buyout.

I agree and my comments were more of a...."really?"...
I simply made the observation, I did not take a side.

 

[bumonbox]

The irony of disgruntled people here is the negativity you would have if Chrysler had failed to turn a profit, or as small a profit as last year. heck, even now, people on the other end of the argument think the 1.7 bil profit is not enough and that Chrysler doesn't have enough of a buffer and that they are in trouble. Amusingly enough, there is a slight hint of truth in that - but only in a long term sense. Chrysler does need to build up it's bank account long term, and will want a bigger buffer in the budget, but for right now, they have come a long, long way. And that is what some idiots don't get. Go ahead, complain that Chrysler is turning a profit, fail to realize that one misstep could wipe all of the profit out. They are a mere matter of years from their near death experience, and they need to rebuild their emergency funds. Especially when you consider that there are some negative indicators in the market, and there is still a lot of potential for another down turn.

I am very glad to see Chrysler advancing, while I don't think of the company as completely recovered, (well, they won't ever truly be in the sense that I would like), they are well on their way to being a strong entity once again. They still aren't quite out of the woods, but I think they are getting close, and I am glad to see the numbers.