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Chrysler 3Q Profit Rises 22% On Truck Demand

DETROIT (AP) – Chrysler Group’s net income rose 22 percent to $464 million in the third quarter as U.S. demand for the Ram pickup and Jeep Grand Cherokee rose.

It was the Auburn Hills, Mich.-based company’s ninth consecutive profitable quarter.

Revenue rose 13.5 percent to $17.6 billion.

Worldwide vehicle sales for the third quarter were 603,000, up 8 percent from a year ago.

U.S. pickup truck sales have been strong all year as contractors and other small-business owners go back to work.

U.S. sales of the recently updated Ram rose 23 percent in the third quarter. Kelley Blue Book says Chrysler also made more per truck. Buyers paid an average of $36,724 per truck in the third quarter, up 5.3 percent from a year ago.

© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

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