Chrysler Group LLC reported $436 million in second-quarter profits, driven by robust North American demand, in a dramatic turnaround just three years removed from bankruptcy.
The U.S. automotive industry is back in a big way following its near-collapse three years ago, with Chrysler Group and Ford Motor Co. posting impressive second-quarter profits.
Chrysler’s Jefferson North assembly plant will add around 1,000 new jobs to support production of the new 2011 Jeep Grand Cherokee, which has not yet gone on sale.
Big Three automaker General Motors Corp. posted a quarterly loss of $6 billion in the first quarter of 2009, as nervous consumers shifted away from the ailing automaker to other competitors.