Chrysler Sends Mixed Financial Message
So, is Chrysler still in major trouble, or are they okay?
It was announced that Chrysler lost an astounding $3.8 billion dollars in the second half of 2009, but it doing much better now. Much better means that for the first quarter of this year they only “lost” $197 million. While I acknowledge that’s a nice drop, it’s still a pretty big loss if you ask me. However, they point to signs that show how they might be improving.
For one, they made a profit in sales of cars and trucks, mainly the Ram Heavy Duty pickup truck. Overall, sales were up from last year at this period by more than 25,000 cars, and their market share grew from 8% to 9.1%. I’m sure it didn’t hurt having all the bad publicity coming from Toyota over the past months, busting the myth of the more superior Japanese car.
Of course, the U.S. government still owns a piece of Chrysler, which is a benefit to American workers, because the deal calls for Chrysler to either manufacture 40 percent of its U.S. sales volume in the United States, or make sure that their domestic production equals at least 90 percent of its 2008 U.S. production volume. So, based on Chrysler’s own prediction, jobs will be secure through at least 2014 for Americans; that’s a good deal.