Chrysler profits surge 80%

  @jtotoole October 29, 2012: 5:09 PM ET
chrysler earnings

The comeback continues at Chrysler.

The automaker reported third-quarter profits Monday that rose 80% versus a year ago, buoyed by strong sales in U.S.

Chrysler's third-quarter net income hit $381 million, up from $212 million last year, though down versus the first two quarters of this year.

Revenues came in at $15.6 billion, up 18% versus last year.

Despite being majority-owned by Italian automaker Fiat, Chrysler is less exposed to Europe that competitors Ford and General Motors, both of which had their second-quarter results weighed down by the continent's ongoing crisis.

Last week, Ford (F, Fortune 500) announced plans to close two plants in England, continuing a string of recent cuts in Europe.

Ford CEO: 'Europe has a long way to go'

But the American auto market has been a different story. U.S. auto sales last month hit their highest level in more than four years.

Chrysler's worldwide vehicle sales for the third quarter were 556,000, up 12% from last year due mainly to the company's 13% sales gain in the U.S. The company confirmed its 2012 guidance, projecting net income of roughly $1.5 billion for 2012.

Ford is scheduled to report its third-quarter results Tuesday morning, with General Motors (GM, Fortune 500) up Wednesday, assuming the presentations aren't rescheduled because of Hurricane Sandy. To top of page

Join the Conversation
Find Your Next Car

Get the latest car news:

CNNMoney Sponsors
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.