Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Chrysler loses less money, raises forecast

By Aaron Smith, staff writer


NEW YORK (CNNMoney.com) -- Chrysler Group LLC reported a narrower quarterly loss Monday and revised its guidance to a rosier forecast for all of 2010.

Chrysler said its net loss eased to $84 million in the third quarter, compared to a loss of $172 million during the same period last year.

The automaker, which emerged from bankruptcy and a U.S.-government backed bailout last year, said its operating profit was $239 million in the third quarter. Revenue rose more than 5% in the quarter to $11 billion.

Chrysler boosted its full-year guidance to an operating profit of about $700 million, compared to its previously announced range of breakeven to $200 million.

"We are not only living up to our commitments but we are also exceeding our 2010 financial objectives," said Sergio Marchionne, chief executive officer of Chrysler Group.

Marchionne is also the chief executive officer of the Italian automaker Fiat, which took a controlling stake in Chrysler as part of last year's restructuring.

He said that Chrysler has released 16 new or "refreshed" vehicles in the last 16 months, including the 2011 Jeep Grand Cherokee and the Fiat 500. To top of page

Find Your Next Car
Index Last Change % Change
Dow 21,397.29 -12.74 -0.06%
Nasdaq 6,236.69 2.74 0.04%
S&P 500 2,434.50 -1.11 -0.05%
Treasuries 2.15 -0.00 -0.09%
Data as of 4:59pm ET
Company Price Change % Change
Advanced Micro Devic... 14.38 0.40 2.86%
Bank of America Corp... 22.93 -0.20 -0.86%
Oracle Corp 50.30 3.97 8.57%
General Electric Co 27.55 -0.23 -0.83%
Chesapeake Energy Co... 4.50 -0.02 -0.44%
Data as of 4:15pm ET
Sponsors

Sections

Coal CEO Robert Murray sued HBO host John Oliver on Thursday, claiming he executed a "character assassination" designed to hurt his company. More

The man running Britain's economy has warned that uncertainty over Brexit is stopping businesses from investing in the country. More

Mark Zuckerberg explains why Facebook is moving on from just friendships to community building. More

Though your financial chemistry may not be what's lighting you up right now, one of the most important things you can do as a new couple is to get to know each other money-wise. More