In 2009, Chrysler and GM were on the brink of bankruptcy. President Obama extended emergency loans to the companies, helping to ensure the continued survival of the U.S. auto industry.
In February of 2012, Chrysler reported that 2011 was the first year it had seen an annual profit since 2007. The Associated Press wrote:
Chrysler expects an even better 2012, despite a sluggish and uncertain economy. The company, which sells most of its vehicles in the U.S., predicts it will make about $1.5 billion this year and increase revenue 18 percent.
“The house is in good order,” CEO Sergio Marchionne said today. “Now we greet a new year of high expectations with our heads down, forging ahead.”
All of the Big Three auto companies—Chrysler, Ford, and GM—are “creating jobs and on course to return to the pre-crash employment levels of 2008.”
For more on the revival of the auto industry, check out this fact sheet and share the good news with your friends and family.