Chrysler reported improved profits for the first quarter of 2004 of $366 million, more than doubling the $166 million it earned during the same period a year ago. The company attributed the gain to a 3-percent increase in U.S. sales during the quarter and the launch of over nine new vehicles this year. First quarter revenues also rose to $14.8 billion, up from $13.8 billion the year before.

The Chrysler Group increased its first-quarter retail sales by 3% to 631,600 vehicles. There was growth for, among others, the new Chrysler Pacifica and Chrysler Crossfire models, which were launched in 2003. Shipments to dealers increased by 6% to 684,800 vehicles. At the end of the first quarter, dealers' vehicle inventories in the United States rose to 585,100 vehicles (end of Q1 2003: 535,800), equivalent to 77 days' supply (end of Q1 2003: 69 days). The increase in vehicle inventories is a result of the buildup for the market launch of the Chrysler Group's new products this year.

This could be the start of a comeback for Chrysler, which lost $637 million last year and has been in a slump since 2001.

The Chrysler Group, which includes the Jeep, Dodge and Chrysler brands, is a unit of DaimlerChrysler AG. The Stuttgart, Germany-based company reported a net income of $483 million during the first quarter, down from $641 million the year earlier.

The company blamed currency fluctuations, charges related to Chrysler restructuring and poor performance at Mitsubishi Motors, of which it owns a 37 percent stake, for the slide.

http://www.caranddriver.com/article....rticle_id=8064

On a slightly but not really related note, I saw a 300 today (I believe it was a Touring). Overall it looks pretty nice although the rear windshield looks positively tiny for a car that big.

I also thought the Pacifica and Crossfire weren't doing so well, but this would seem to indicate that they are at the very least posting some kind of profit.

Still, it's kind of staggering to see that on $14.8 billion of revenue, they earned $336 million in profit. That's only 2.27% of total revenue.

 

go chrysler!

as long as they make quality half-german cars, im all for them!

 

the dealership i used to work at cant keep any of the 300c hemis on the lot....

 

Slight syntax issue here...It should read "half-quality german cars."

:lmao:

The same thing happened with the Z, or any other car that is hot and new to market. The Zs are no longer flying off the lots. I wonder how many V8 300s they'll be selling 3 years from now...

 

I dunno...they're still sellin pretty well. 3100 units last month. Only about 3 hundred or so units off from last april. Maybe it died down a little...but not that much.

 

Saw a 300 on New York's 278 BQE a few days ago. I noticed it because of the grille really.

 

I haven't seen any 300s around where I live. And I know the Pacifica and Crossfire sales have been disappointing, so in order for DC to make such a high profit they must really have been cost-cutting IMHO.

 

It's quite possible.

Yeah, so you're in Seattle, not Detroit!

FatBooty should know that GM, Ford, and Chrysler make small profit margins compared to Honda, Nissan, and Toyota. He DOES know that, right?

 

Chrysler still isn't selling the new 300 in huge quantities, and even at full production I think they are shooting for lower numbers than the 300M-Concorde combined. Which is fine by me, I mean, quantity isn't everything.
If DCX wants to keep the Chrysler brand from sinking in the mud, that's cool, but then Dodge needs to offer strong 'everyman' product. But there still isn't a big difference between 'Chrysler' and 'Dodge.' We'll see what happens to replace the Sebring-Stratus.

Rochester Hills Chrysler-Jeep in my hometown, which is the closest C-J dealer to the DaimlerChrysler Tech Center (HQ), had a couple of 300 models this past weekend sitting behind the front row of Jeeps facing Rochester Road, but still sitting prominently right in front of the showroom doors. That's what Chrysler wants to do with the 300 and Crossfire... flagship product, hopefully sells closer to sticker than in huge quantities. As for the Pacifica, well, they'll sell more of them but you won't see them around like you do the various permutations of GM and Ford SUVs.

 

I must say, that's probably the first time I've been directly addressed in the third person.

I know the profit margins are small for the Big Three, it's just amazing how small they actually are.