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Chrysler makes first quarterly net profit since 2009


Chrysler makes first quarterly net profit since 2009


Chrysler has reported its first quarterly net profit since emerging from bankruptcy nearly two years ago.

The US carmaker, now operating under the management of Italy’s Fiat, credited new models and higher vehicle prices.

Chrysler’s first-quarter net income was the equivalent of 78 million euros.

It has been making operating profits for some time, but was saddled with high interest costs on 4.7 billion euros of bailout money from the US and Canadian governments.

Sergio Marchionne, the chief executive of Chrysler and Fiat, said the company would need to post “a couple” of quarters of net income before an initial public offering of shares, which could come this year or next.

“Success is incredibly temporary,” Marchionne told analysts and reporters on a conference call. “The first quarter is done. We’ve got a lot of quarters to do.”

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