Chrysler Group LLC Reports Operating Profit of $239 Million in Third Quarter

LONDON – November 10, 2010: Chrysler Group LLC continues a positive 2010 with news this week of a rise in Operating Profit for the third consecutive quarter. Net losses have continued to decrease while market share has improved for the fifth quarter in succession.

Net Loss was reduced to $84 million in Q3 2010 – down from $172 million in the previous quarter – while cash at 30 September 2010 increased to $8.3 billion, bringing the total available liquidity to more than $10.5 billion.

Market share now stands at 9.6 per cent in the US – up from 9.4 per cent in the previous quarter and from 8.0 per cent in Q3 2009.

The Company posted an Operating Profit of $239 million in quarter three of 2010 and $565 million for year-to-date 2010. The Q3 2010 Operating Profit improvement of $56 million, compared with Q2 2010, was primarily driven by improved mix and pricing from the launch of the new Jeep Grand Cherokee, partially offset by industrial costs associated with seasonal plant changeovers.

“A year ago, Chrysler Group laid out clear and concise five year financial goals and after three consecutive quarters of better than forecasted results, we are not only living up to our commitments but we are also exceeding our 2010 financial objectives,” said Sergio Marchionne, Chief Executive Officer, Chrysler Group LLC.

“Chrysler’s financial success is dependent upon the vehicles we design, build and sell. In a mere 16 months, the Company is delivering 16 all-new or refreshed products led by the critically-acclaimed all-new 2011 Jeep Grand Cherokee and including the Fiat 500, signalling the return of the Fiat brand to the US and Canada.

“We are committed to ensuring that every new vehicle this company launches has the same high quality and technological advances as the Jeep Grand Cherokee. Our 2010 accomplishments are just the beginning of building Chrysler Group into a vibrant and competitive auto maker.”