Chrysler Group expect revenue to reach $80bn in 2014

Chrysler Group expect revenue to reach $80bn in 2014

PanARMENIAN.Net - Chrysler Group LLC, which is owned by Fiat SpA, on Wednesday, Jan 29, said its revenue would rise 11 percent to about $80 billion in 2014, according to Reuters.

The American automaker that went through bankruptcy in 2009 and came out managed by Fiat, is now fully owned by the Italian company, which reported fourth-quarter earnings on Wednesday below expectations of analysts.

Chrysler's fourth-quarter net income of $1.62 billion, up 329 percent from the previous year, included a $962 million non-cash tax benefit related to the release of a valuation allowances on deferred tax assets. Adjusting for the one-time benefit, Chrysler's fourth quarter net income was $659 million, compared with $378 million a year ago.

Net revenue for 2013 was $72.14 billion, up 10 percent from 2012, and was primarily driven by an increase in vehicle shipments, which rose to 2.6 million, up from 2.4 million in the previous year.

Chrysler said it expects 2014 net income to be between $2.3 billion and $2.5 billion. That compares with net income of $2.76 billion in 2013, which includes the one-time tax benefit of $962 million.

Related links:
 Top stories
Among CIS countries, Azerbaijan was placed 60th, Russia 91st, Moldova 75th, Ukraine 88th, Kyrgyzstan 101st place.
In January-October 2014, the country’s exports totaled $1.250 billion, up %2.9 from last year, National Statistical Service said.
As a consulting partner, offering an extensive range of financial assistance, Ameriabank is financing a developing sector of industrial agriculture.
The mining right was granted to Geoteam CJSC, Lydian's 100% owned subsidiary, by the Ministry of Energy and Natural Resources.
Partner news