Chrysler Post $143 million Operating Profit, but still $197m Loss in First Quarter of 2010

Chrysler has posted a $143 million operating profit for the first quarter of 2019. This is a huge increase for the company who not too long ago was facing massive cost cutting measures after its 2009 bankruptcy.

Still, on a net basis, Chrysler lost $197 million in the first quarter. The automaker lost nearly $4 billion in the months following its June 10, 2009 emergence from Chapter 11 bankruptcy.

First-quarter results confirm ” 2010 targets we set are achievable,” declared Fiat-Chrysler CEO Sergio Marchionne. He is overseeing a day-long meeting in Turin, Italy to lay out Fiat’s five-year goals much as he did at Chrysler in November. Fiat, which now owns 20 percent of Chrysler, has a goal of breakeven for the U.S. automaker in 2010.

In announcing the results, Marchionne further noted that Chrysler is generating cash so it can finance its future product portfolio and its brand repositioning, which included making Ram trucks a separate division from Dodge.