It's hard to believe that we're already through the first quarter of 2012, but there's one thing that isn't hard to believe. Chrysler Group has reported quadrupled profits upon an increase in U.S. sales during Q1, and while it's great news, we at Fields Chrysler Jeep Dodge can't say we're all that surprised. Chrysler vehicles have consistently held popularity with drivers looking for high performance at a low price tag.
During first quarter last year, Chrysler reported profits of $116 million. During the same period this year, the automaker reported profits of $473 million and a year-over-year sales increase of 39 percent. The Chrysler profit boost is also due in part to Chrysler's increased market share since 2011, which rose from 9.2 to 11.2 percent.
Another thing that's not hard to believe: Chrysler is using these first quarter numbers to project notable profits for the remainder of the year. The company has forecasted profits of $1.5 billion for 2012, which is well over last year's profit of $183 million.
Other strong numbers for Chrysler in Q1 include net revenue of $16.4 billion (25-percent increase), a drop in net industrial debt to $1.3 billion versus last year's $3.4 billion, a 25-percent rise in worldwide vehicle shipments totaling 607,000, a 33-percent increase in worldwide vehicle sales totaling 523,000, an 80-percent increase in international sales of Chrysler Group vehicles and $11.3 billion in cash (versus $9.9 billion last year) at the end of the quarter. Finally, Chrysler enjoyed its first position as market leader in Canada, earning 15.0 market share.
With a start like this, Dodge dealers serving Skokie and surrounding areas can't wait to see how Chrysler performs throughout the rest of the year.