Chrysler, Quarterly Earnings | featured news

Fiat SpA, the Italian automaker that controls Chrysler LLC, saw fourth quarter earnings more than double thanks to strong North American sales that more than compensated for a weak performance in Europe.

Chrysler reported its second-quarter profit soared as its predominately North American operations shielded it from the European economic slowdown on plaguing its U.S. competitors.

Fiat-Chrysler's third-quarter trading profit was well above forecasts at 851 million euros, with U.S. automaker Chrysler contributing as much as two-thirds of it and helping offset weak European sales.

Both companies report rising sales, but Ford Motor Co. says profits fell about 8% compared with the same period last year as the automaker paid off debt and invested in new vehicles.

Chrysler Group LLC reported its first quarterly net profit since emerging from bankruptcy nearly two years ago, helped by a revamped lineup of cars and trucks as well as higher vehicle prices.