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Chrysler drives back into the black

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Chrysler drives back into the black

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The American car-maker Chrysler, controlled by majority shareholder Fiat, says its Q3 loss was smaller than expected, and that if interest payments on loans are stripped out of the figures, the company is profitable again.

Chrysler lifted its full year outlook as results continue to outpace forecasts, and it now sees an operating profit of around half a billion euros by the year’s end, up from a forecast of break-even or around 143 million.

Cash flow is also expected to turn positive, reversing months of negative outflows. Revenue climbed 5.2 percent from the previous quarter, and cash reserves grew.

Chrysler is about to launch 16 new or refreshed vehicles, including Fiat’s 500 in a bid to boost market share in the US. It hopes to re-list on the stock market in the second half of next year. Rival General Motors is due to do the same next month.