Chrysler Group LLC reported a 16% increase in its net income during the second quarter of 2013. The net income of $507 million compares with $436 million in the same quarter last year. This marks Chrysler Group’s eighth consecutive quarter of positive net income.
“We’re relatively satisfied with the performance of Chrysler in the second quarter,” CEO of Chrysler and Fiat Sergio Marchionne said. “Our indications are that today we will be able to continue the trend that we have started some 40 months ago in terms of year-over-year improvement.”
Net revenue in the second quarter of 2013 is $18 billion, a 7% increase from the same period a year ago.
Chrysler Group reports the increase is largely due to the rise in truck and SUV sales, including the new Jeep® Grand Cherokee and Ram pickup trucks.
Marchionne believes the indications for the rest of the year are positive. “I think that the market is holding up well and I think Chrysler is doing well in the market,” he said.