Chrysler Reports Q1 Loss, but revenue rose – The revenue of Chrysler Group LLC rose to $9.69 billion in the first quarter. Compared to the final three months of the year 2009, the revenue got an increment of 2.7%. The company however, reported that a net loss of $197 million in the first quarter compared to the net loss of $2.69 billion that it faced in the final three months of the last year.
The US automaker Chrysler Group LLC claimed that it had made a profit of $143 million in the first three months of this year. The main reason for this profit has been accredited to cut down in the cost as well as the introduction of a big pickup truck.
The bankruptcy emerged on June 10th and it continued through out the year 2009. it was because of this bankruptcy that the company faced a loss of $3.8 billion. This loss was incurred on revenue of $17.7 billion.
As the company reorganized the Chapter 11 with $15 billion in support of the government the fiat obtained a stake of around 20%. According to the Chief Executive Officer of the company, Mr. Sergio Marchionne, they are generating more cash so that the investments can be financed especially those investments which are being made in the product portfolio as well as repositioning of the brand. He also said that the result of the operational profit is a good indication to the customers and suppliers of the company that the targets of 2010 would be achieved.