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Chrysler turns a profit

After a major bailout by the American government, and a new partnership with Fiat of Italy, the US maker has just reported its first black-ink result since 2009.

It banked $106 million on its first-quarter operations for 2010, compared with a $180 million loss for the same period in 2010. Chrysler's revenue improved 35 percent through the quarter to $12 billion as its worldwide sales - led by the successful new Chrysler 300C in the USA and the latest Grand Cherokee from Jeep - improved by 18 per cent.

The result is praised by anaylsts at Morgan Stanley in the USA, which calls the results "impressive". "Chrysler Group's improved sales and financial performance in the first quarter show that our rejuvenated product lineup is gaining momentum in the marketplace," says Chrysler's chief executive, Sergio Marchionne, who took the top job as part of Fiat's buy-in to the company two years ago.

Paul Gover is a former CarsGuide contributor. During decades of experience as a motoring journalist, he has acted as chief reporter of News Corp Australia. Paul is an all-round automotive...
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