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Chrysler back in black for Q1

Chrysler has reported its first quarterly profit of £69 million since it emerged from bankruptcy protection in 2009.

The US brand saw revenues increase by 35% up to $13.1 billion and the turnaround has been put down to Fiat steering the direction of the company since it bought a 20% stake in 2009.

Fiat’s shareholding in Chrysler has now been increased to 46%.
The last time Chrysler made a quarterly profit was in 2007.

Sergio Marchionne, Chrysler and Fiat chief executive, said the improved financial performance was due to the changes he had implemented at the company, including a “rejuvenated” product line-up.

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