For the third consecutive quarter, Chrysler continued to report a profit and has just had its best financial performance in over a decade. After coming out of bankruptcy in 2009, Chrysler has worked hard to improve all of their vehicles by redesigning interiors and exteriors, increasing fuel-efficiency, and improving reliability. Specifically, the company has focused on core products such as the Jeep Grand Cherokee, the Dodge Durango, and the Chrysler 300 and 200 sedans. All of these changes for the better, along with a newly formed partnership with Fiat and the new CEO Sergio Marchionne, have helped move Chrysler from the smallest of the Detroit Three into a hard earned first. In the first quarter of 2012, Chrysler reported profits of $473 million, more than four times as much as they made a year ago and topping the net income of the entire year of 2011.
Many factors have contributed to Chrysler’s recent success. Improving and updating core vehicles is an obvious way to increase success but Chrysler has also been working hard to create a patriotic image. And it seems to be working; Chrysler gained a full 2 percent of the U.S. market share compared to last year and shows no signs of slowing down. Be sure to keep an eye out for updated Chrysler vehicles, especially the brand new Dodge Dart for the 2013 model year. This will be the company’s first 40 mpg car and is an exciting addition to the C-Segment.