Chrysler Reports Loss for First Quarter
The Chrysler Group announced financial results for the first quarter of 2014.
The company reported an operating loss of $690 million for the first quarter, down $856 million from a profit of $166 million in the first quarter of 2013.
Net revenue for the first quarter was approximately $19 billion, a year-over-year increase of 23.4% from $15.4 billion last year.
Worldwide deliveries for the first quarter increased by 10%, up to 621,000 units sold from 563,000 in the same period last year. Chrysler said that the increase in worldwide deliveries was driven largely by a 19% increase in U.S. retail sales in the first quarter.
Chrysler said it expects a net revenue of approximately $80 billion for 2014.
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