Chrysler Group Reveals 2010 Financial FiguresBy Liz Opsitnik
Monday, Jan 31 2011 16:32
Chrysler Group LLC announced its 2010 financial results today. The automaker earned $41.9 billion in net revenues in 2010 and posted an operating profit of $763 million for the year. Chrysler Group's 2010 net loss came in at $652 million.
"As Chrysler Group's brand displays at the Detroit auto show confirmed, the Company has lived up to its promise to launch 16 all-new or significantly refreshed vehicles in the past 12 months," said Sergio Marchionne, CEO, Chrysler Group LLC. "All of these vehicles bear testimony to Chrysler's rebirth. Given the positive comments we have received to date, it can safely be said that what Chrysler delivered last year, on both the product and financial fronts, surpassed many expectations. However, our job is not yet done. We have a lot of work ahead to fulfill our five-year business plan objectives."
The redesigned 2011 Jeep Grand Cherokee has been a hit so far with car shoppers.
Chrysler Group LLC sold 1,516,000 vehicles worldwide in 2010. Chrysler Group's U.S. market share was 9.2 percent in 2010, which is up from 8.8 percent in 2009.
Chrysler Group offered interest-free auto loans during the majority of 2010. Lease deals are starting to come back across the automaker's Dodge, Ram Truck, Jeep and Chrysler brands, but are not as numerous compared to its competitors.
Cash back rebates of several thousand dollars were also available in 2010 across Chrysler Group's brands. Shoppers were also offered auto finance cash from Chrysler Group this past year if they financed their auto loan or lease through Ally, Chrysler Group's preferred lender. Similar new car incentives are currently available for Jeep, Dodge, Ram Truck and Chrysler vehicles.
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