Chrysler made a $507 million profit between April 1-June 30 of this year. That's a 16% increase over their second quarter 2012 earnings.
Freep: However, Chrysler cut its forecast for the year. The automaker said it now plans to make between $1.7 billion and $2.2 billion for the year and sell a total of 2.6 million new cars and trucks. That is down from its previous guidance for a profit of $2.2 billion and as many as 2.7 million new cars and trucks.
“As we have highlighted previously, the timing of product launches and capacity increases causes this year’s performance to be biased to the second half, and a continued aggressive drive for excellence and flawless execution will be essential to attain the targets we’ve set for ourselves,” Chrysler and Fiat CEO Sergio Marchionne said in a statement.
The whole earning forecast/managing expectations game may be what keeps hearts fluttering on Wall Street, but here in the real world, it seems like the most important thing is that Chrysler is selling their cars for more than it costs to make them.
