Chrysler Posts $1.6B Q4 Net Income

Jason Siu
by Jason Siu

The Chrysler Group reported a net income of $1.6 billion for the fourth quarter today, aided by a one time tax gain of $962 million.

It’s quite the contrast compared to a year earlier, when Chrysler netted $378 million. Adjusted net income for the quarter was $659 million while fourth-quarter revenue saw a bump to $21.2 billion thanks in part to 25,000 Jeep Cherokees being held over past October 1 to recalibrate its transmission software.

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For all of last year, Chrysler posted net income of $2.8 billion, which is up 65 percent ($1.7 billion) compared to 2012. Adjusted net income for 2013 was $1.8 billion.

It’s the third straight year the American automaker has turned a profit while seeing a boost in U.S. market share of two-tenths of a percentage point to 11.6 percent in 2013. The automaker’s U.S. sales rose 9 percent last year and globally, Chrysler delivered over 2.6-million vehicles including those from Fiat.

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[Source: Automotive News]

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Jason Siu
Jason Siu

Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.

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