Chrysler 3Q earnings up 32 pct. as new models fuel US, global sales increase

MarketsAssociated Press

Chrysler Group says its third-quarter net profit rose 32 percent on rising sales, especially of newer models.

The company says it made $611 million in the July-through-September quarter, compared with $464 million a year ago.

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Revenue rose nearly 18 percent to $20.7 billion.

Chrysler's earnings continued to prop up its owner, Fiat Chrysler Automobiles, which made $221 million in the quarter.

Last month the carmakers finished a five-year merger process, and listed shares on the New York Stock Exchange.

Chrysler says its worldwide sales grew 18 percent in the quarter to 711,000 vehicles. Most of the increase in was in the U.S., where retail sales grew 20 percent largely because of the new Jeep Cherokee SUV and Chrysler 200 sedan.