All eyes were on the Auburn Hills-based Chrysler Group yesterday, who posted impressive quarterly profits. The Detroit News reports:
Chrysler Group LLC posted a net profit of $473 million for the first three months of 2012 Thursday — more than four times as much as the company made during the same period a year ago. Net revenue for January, February and March was up 25 percent to $16.4 billion as Chrysler's global sales increased 33 percent to 523,000 units and it gained two whole points of share in the critical U.S. market.
Chrysler's strong financial results are good news for its U.S. factory workers. Under the terms of last year's contract between the company and the United Auto Workers, Chrysler's 26,000 U.S. hourly employees will receive the second half of their ratification bonus...in addition to more shifts at some of its U.S. factories.