Chrysler Group had nothing but good news to share this morning as it has reported its financial results for the first quarter of 2012. The headline-hogging number is that the automaker’s first quarter profit quadrupled from $116 million a year ago to $473 million this year. All that was on the back of U.S. sales that increased 39 percent year-over-year. The rise in sales also resulted in Chrysler Group increasing its market share in the U.S. from 9.2 to 11.2 percent.
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With such an impressive first quarter, Chrysler is targeting an equally impressive year. Its forecast for profit in 2012 has been set at $1.5 billion, while last year it earned just $183 million.
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