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Originally Posted by jsenn
They did not make money. They lost just like the rest of the big 3.
Here's a quote from autoblog:
"Normally the privately owned Chrysler LLC is under no obligation to reveal its financial performance to Wall Street, but yesterday the Cerberus-owned automaker was forced to show a few pages from its accounting books thanks to one of its largest stakeholders and former owner, Daimler AG. The German automaker revealed that in the last six months, its 19.9% stake in Chrysler has cost it $585 million. To clarify Daimler's numbers, Chrysler also revealed yesterday that the loss being attributed to it, all of which was incurred in Daimler's first fiscal quarter of the year, is around 65 million euro, or $103 million, using American accounting standards. Perhaps realizing that all analysts had to do was multiply Daimler's loss by five to arrive at Chrysler's total loss for the last quarter, the automaker just came right out and said it lost about $515 million. While a mere pittance to the $8.7 billion worth of red ink Ford spilled during Q2, it was enough to drag down Daimler's numbers halfway around the world"
They showed a profit before taxes and write offs and a bunch of other things that contribute to the bottom line. GM will not die in our lifeftime. Neither will Ford. Chrysler has been on life support for years now and they are well on there way to becoming an import built in America as Indian companies are looking into purchasing them as I type this.
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They made 1 billion
And there is no indian company trying to buy chrysler lol, cerberus is in for the long haul. This is journalism at its worste.
If they lost, they lost the least out of the 3 but last I heard they made 1 billion which is nothing but it is something.