Chrysler's 2Q Loss Deepens After Repaying Debt

Features Reuters

Chrysler Group LLC, controlled by Fiat SpA, reported a second-quarter net loss on Tuesday after the U.S. automaker repaid $7.6 billion in loans to the U.S. and Canadian governments.

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Chrysler, which makes the Jeep, Dodge, Ram and Chrysler brands, reported a net loss for the second quarter of $370 million, compared with a net loss of $172 million a year earlier.
Excluding a $551 million charge related to the debt repayment, Chrysler reported an adjusted profit of $181 million.

Revenue rose 30 percent from a year earlier to $13.7 billion.

Chrysler emerged from a federally funded bankruptcy more than two years ago under management of Fiat. The Italian automaker last week took majority control of Chrysler.