Matching a trend set last week by its domestic rivals, Chrysler Group reported healthy second quarter earnings Tuesday, helped by the strong U.S. auto market and a boom in profitable truck sales.
The Auburn Hills, Mich., automaker said it posted second quarter net income of $507 million, a 16% gain from $436 million in the same quarter a year earlier. The second quarter was Chrysler’s eighth consecutive quarter of positive net income.
Second quarter sales rose to $18 billion, a 7% increase from same period last year. Chrysler said sales of its new Jeep Grand Cherokee and Ram pickup trucks were behind the revenue gain. Helped by the rebounding housing and construction industries, pickup trucks have been the hottest segment of the U.S. auto industry this year.