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 20,821.76 11.44 0.05%
Nasdaq 5,845.31 9.80 0.17%
S&P 500 2,367.34 3.53 0.15%
Treasuries 2.32 -0.07 -2.97%
Data as of 10:24pm ET
Company Price Change % Change
Bank of America Corp... 24.23 -0.35 -1.42%
Spectra Energy Corp 40.68 -0.32 -0.78%
Chesapeake Energy Co... 5.66 -0.09 -1.57%
Hewlett Packard Ente... 22.96 -1.70 -6.89%
Ford Motor Co 12.47 -0.09 -0.72%
Data as of Feb 24
Sponsors

Sections

Baltimore Orioles executive John Angelos said he would want President Trump to apologize for all the offensive comments he's made before he's invited to throw out the first pitch at Camden Yards. More

A draft of the House Republicans' bill to repeal Obamacare would replace its subsidies with less generous tax credits, increase the amount insurers could charge older Americans and effectively eliminate Medicaid for low-income adults. More

Data Refuge collects federal data about climate change in order to preserve the information and keep it publicly accessible. More