Listen Live on  
 

TALK 1230 WTKG

TALK 1230 WTKG
 
 

Chrysler Has Higher Earnings

 
Chrysler Has Higher Earnings
Posted Wednesday, January 29th 2014 @ 9am  by The Associated Press

Chrysler Group's fourth-quarter net income more than quadrupled to $1.62 billion, aided by $962 million in one-time tax benefits.
 
Without the benefits, the company made $659 million, still 74 percent more than a year ago.
 
Chrysler's performance helped to prop up Fiat, its Italian owner, which made 252 million euros ($345 million) excluding one-time items. Without earnings from Chrysler, Fiat would have lost 235 million euros ($321 million).
 
Fiat owned 58.5 percent of Chrysler last year. It has since bought the rest from a trust fund that pays health care bills for union retirees.
 
Chrysler's 10th-straight profitable quarter came because of strong U.S. sales of Ram pickups and Jeep Grand Cherokees.
 
For the full year, Chrysler made $1.8 billion excluding tax benefits, its best performance since leaving bankruptcy in 2009.

Recommended Stories

*