It was good news for Chrysler in the second fiscal quarter of 2012. They posted a profit of $346 million. This total is a monumental change when it is compared to the $370 million loss the automaker posted for the second quarter of 2011. That loss was due to the fact that Chrysler had to pay back $551 million in government loans during that time.
The Chrysler Group’s revenue rose a great-looking 23 percent in the second quarter. That’s $16.8 million. Worldwide sales grew 20 percent up to 582,000 units. At the end of the quarter, Chrysler showed $12.1 billion in cash on its books, which is up from $11.3 billion that showed at the end of June.
Chrysler did not have to pay any loans this quarter, allowing them to benefit from changes they made in their portfolio. They introduced some new and reworked vehicles that resulted in increased demand. Chrysler sold 1.23 million vehicles in the first half of 2012, putting them back on track to exceed the goal that they set of selling 2.4 million vehicles this year.
There are two changes in the vehicle lineup that have made a big difference to the Auburn Hills-based automaker. A rework of the strong-selling Ram pickup line and the introduction of the new Dodge Dart compact sedan are sure to continue Chrysler’s growth in second half of 2012.
The Ram lineup became its own distinct brand in 2009 when the operations of the automaker were taken over by Fiat. That partnership has been quite profitable, reversing the dark days of that year. Along with that change was the introduction of the Dark Dart, completing that reversal with the “Best Small Car Dodge Has Ever Made.” Kudos to Chrysler on their successful comeback and we are looking forward to seeing their progress in the second half of this year.