Share on StockTwits

Chrysler Group’s fourth-quarter net income more than quadrupled to $1.62 billion, aided by $962 million in one-time tax benefits. Without the benefits, the company made $659 million, still 74 percent more than a year ago. Chrysler’s performance helped to prop up Fiat, its Italian owner, which made $345 million excluding one-time items. Without earnings from Chrysler, Fiat would have lost $321 million. The industry hopes the latest figures suggest the decline in Europe – Fiat’s traditional stronghold – has bottomed out. Steve Fowler, Editor of Auto Express, says Fiat needs Chrysler now, not the other way around: For the full year, Chrysler made $1.8 billion excluding tax benefits, its best performance since leaving bankruptcy in 2009.

“Tax Benefits Drive Up Chrysler 4Q Net Earnings” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.