News Summary: Chrysler makes $436M 2Q profit

AP News
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Posted: Jul 30, 2012 4:20 PM

DETROIT (AP) — HOME SWEET HOME: Chrysler earned $436 million in the second quarter mainly on strong sales in the United States. The company's U.S. sales were up 24 percent for the quarter to 436,000 cars and trucks. Chrysler gets more than 75 percent of its sales from the U.S. and another 12 percent from Canada. The automaker is over-exposed to the two countries, but that's proving to be an asset as other companies struggle with losses in Europe.

LAST YEAR: Chrysler lost $370 million in the second quarter of 2011 mainly because of costs associated with refinancing its government loans.

THE OUTLOOK: Chrysler repeated its guidance FOR a full-year profit of $1.5 billion. It made $909 million in the first half, so that means the company expects to make less than $600 million during the second half of the year. Chrysler will have manufacturing and marketing costs for rolling out the Dodge Dart compact and a revamped Ram pickup. But it's also being cautious with the U.S. economy slowing.