Chrysler Talks Financial Gains & Makes Them

Gary S. Vasilash

If you’re ever looking for an example of the term “understatement,” here’s a first-rate example from Sergio Marchionne, chairman and CEO of Chrysler Group, speaking in relation to the third-quarter financial results for the company: “We’ve changed the conversation at Chrysler Group.”

Sergio Marchinonne, CEO of Fiat S.p.A speaks at the Changing Fortunes round table at the Spruce Meadows Masters.(Mike Sturk photo)

Whereas the conversation had been, in some cases, of a weak sister getting her wind back, now it is about an organization that is increasingly robust:

Net revenue for the quarter: $15.5-billion, “primarily driven by a 19 percent period-over-period increase in shipments.”

That means that more people are buying Chrysler products.

As in worldwide vehicle shipments were 559,000 in the quarter, up 19% from the same period a year ago.

As in worldwide vehicle sales for the third quarter of 556,000, up 12% from Q3 in 2011.

And for the first nine months of 2012, the net revenue was $48.6-billion, a 22% increase compared with the same period last year.

Presumably, they’re not done.

Yes, the conversation has been changed with a whole raft of increasingly compelling products, ranging from the new Dodge Dart to the significantly improved Ram 1500 pickup.

If this cadence is continued, Chrysler will have a whole lot more to talk about.

Meanwhile, back in Italy at Fiat. . .well, that story is not so compelling.