Chrysler Group Reports Smaller Losses in Q3 2010

A loss is a loss, but at least there's an improvement in the Chrysler Group's financial results for the third quarter of the year that ended on September 30, 2010. The American automaker, which is operated by Fiat SpA, reported an $84 million net loss in Q3, the smallest in the year and less than half the $172 million loss in the second quarter of 2010.

In other results, Chrysler said Net Revenues increased to $11,018 billion representing a 5.2 percent improvement over the prior quarter, while year-to-date Net Revenues, as of September 30, 2010, totaled $31,183 billion. The firm's operating profit rose 31 per cent from Q2 2010 to $239 million.

The company's global vehicle sales were 401,000 units for Q3 2010, a decrease of 1 percent compared to 407,000 units in Q2 2010. In the U.S., Chrysler's market share improved for the fifth consecutive quarter since the company's formation to 9.6 percent in Q3 2010 from 9.4 percent in Q2 2010 and 8.0 percent in Q3 2009.

After the announcement on the Q3 financial results, Sergio Marchionne, Chief Executive Officer of Chrysler Group LLC, stated:

"A year ago, Chrysler Group laid out clear and concise five year financial goals and after three consecutive quarters of better than forecasted results, we are not only living up to our commitments but we are also exceeding our 2010 financial objectives."

"Chrysler's financial success is dependent upon the vehicles we design, build and sell. In a mere 16 months, the Company is delivering 16 all-new or refreshed products led by the critically acclaimed all-new 2011 Jeep Grand Cherokee and including the Fiat 500, signaling the return of the Fiat brand to the U.S. and Canada. We are committed to ensuring that every new vehicle this company launches has the same high quality and technological advances as the Jeep Grand Cherokee. Our 2010 accomplishments are just the beginning of building Chrysler Group into a vibrant and competitive auto maker," Marchionne added.

VIDEO: Mopar’s Jeep J7 Stripper and NuKaiser 715, and Ram Power Wagon Concepts

Most likely, you have read our preview on Mopar's SEMA-bound tuned vehicles. If that's the case, then you may also be interested in the video after the break, as Jeep's Chief Designer, Mark Allen, does a show and tell on three Jeep and Ram concept vehicles.

First up is the Jeep Wrangler J7 Stripper that was enhanced by removing several parts, as Mark Allen's team decided to follow the "less is more approach". Amenities like carpets and fog lights are gone, in come 35-inch Mickey Thompson tires and a two-inch lift, which promise to make this Wrangler even more capable off-road.

Next up is the Jeep NuKaiser 715, which borrows most of its components from the J8 military truck. It relies on a 2.8-liter diesel engine to get it through rough terrain, as well as Dynatrac heavy-duty axles with air-lockers and 38-inch BF Goodrich tires. Also, to further resemble the original Kaiser truck, Jeep's designers chopped the top and added the bed of an AEV (American Expedition Vehicle).

For the grand finale we have the Ram Power Wagon, based on the most capable off-road truck that the Chrysler Groups sells today. The SEMA version has a 120 inch (3,05 meters) wheelbase, monstrous 40-inch tires and a 5.7-liter HEMI V8. It has "sort of a desert off-road flavor", as Mr. Allen puts it. Scroll down to watch the video.

By Csaba Daradics

_______________________________GALLERY_______________________________

____________________________________________________________________

_______________________________VIDEO_______________________________