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 18,223.03 77.32 0.43%
Nasdaq 5,309.83 52.43 1.00%
S&P 500 2,151.33 10.17 0.47%
Treasuries 1.76 0.02 1.32%
Data as of 6:37am ET
Company Price Change % Change
AT&T Inc 36.86 -0.63 -1.68%
Bank of America Corp... 16.77 0.10 0.60%
Chesapeake Energy Co... 6.36 -0.32 -4.79%
Microsoft Corp 61.00 1.34 2.25%
Time Warner Inc 86.74 -2.74 -3.06%
Data as of Oct 24


One of the clear messages from Consumer Reports dependability survey was that cars that have recently been totally redesigned tend be less dependable. More

Stocks are widely expected to drop close to 10% if Trump wins the presidency. But even if Clinton wins, stocks could still sell-off the day after the election. More

President Obama says the U.S. is still trying to figure out who carried out the massive cyberattack that crippled popular websites like Twitter and Netflix. More

The University of Illinois partnered with Coursera to launch one of the most affordable online MBA programs yet. More