Chrysler shows profit of $436 million
Strong sales in the U.S. and Canada powered Chrysler to a $436 million second-quarter profit.
It’s a big turnaround from a year earlier, when Chrysler lost $370 million in the quarter, mainly because it refinanced government bailout loans.
The automaker, now majority owned by Italy’s Fiat SpA, also backed an earlier forecast that it would earn about $1.5 billion this year. Such a performance would have been unthinkable three years ago, when Chrysler nearly ran out of cash and needed a government bailout to survive.
