The Chrysler Group continues its upward momentum as it posted a profit of $436 million during the second quarter of the 2012 fiscal year! This puts the company in a very good position to reach and surpass its self-set goal of $1.5 billion in net income for the year. These results are even more incredible when you consider the situation that the Chrysler Group was in not more than a year ago. In the same period of the last fiscal year, the company had a loss of $370 million due to the government loan payments. After emerging from bankruptcy and partnering with Fiat in 2009, Chrysler has really started to cement itself as a permanent part of America’s automobile manufacturing industry.
This recent success is largely in part to the new leadership of CEO Sergio Marchionne who comes from Fiat SpA, the majority-owner of Chrysler. His cautious and disciplined style of leadership has helped to cut costs and bring Chrysler back from the grave. A nearly complete redesign of the company’s products has also helped with sales. With Chrysler vehicles becoming sleeker, modern, and fuel efficient, interest in the market has skyrocketed. Vehicles that have been strong for the company include Ram pickup trucks and the all-new Dodge Dart compact sedan. With these vehicles contributing, expect to see profitability continue to rise!