Chrysler Posts $690 Million Net Loss in Q1

Chrysler Posts $690 Million Net Loss in Q1

Despite gaining market share and moving more cars, Chrysler Group posted a $690 million net loss in the first quarter of 2014 due to merger costs. 

Fiat and Chrysler have now merged into one entity, and the cost to do so ate into much of Chrysler’s early 2014 profits. The company says that without the cost of the merger factored in, it would have posted a $486 million profit. In total, the merger cost the brand about $1,176 million.

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Chrysler posted the largest market share gain of any major automaker during the first quarter, growing by 1.1 percent in the United States. The American automaker also saw sales jump by 11 percent year-over-year in the first three months of the year.

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