Chrysler narrows 2Q loss from 1Q on growing sales

[August 09, 2010]  DETROIT (AP) -- Chrysler Group LLC says growing sales helped it narrow its second-quarter loss to $172 million, a year after emerging from bankruptcy protection

The U.S. and Canada are Chrysler's primary markets, and both have seen more demand for cars and trucks since a recession-related slump last year. Chrysler says revenues rose 8.2 percent to $10.5 billion compared with the first quarter, largely because of a 22 percent jump in sales.

Chrysler has been run by Fiat SpA since leaving bankruptcy protection in June 2009. This was the first time since 2007 that the company has released second-quarter results. Chrysler lost $197 million in the first quarter.

Chrysler says it remains on track to break even or post an operating profit this year and may raise that forecast when it reports third-quarter results. Chrysler said it made an operating profit of $183 million in the second quarter.

[Associated Press]

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