Three years ago this month, Chrysler was about to enter a federally managed bankruptcythat saved it from liquidation.
Today, Chrysler, which is based in Auburn Hills, Mich., said it earned $473 million in the first quarter, its best results since the SUV-profit fueled first quarter of 1998, and almost four times what it earned in the same period last year. Chrysler’s revenue in the quarter was $16.4 billion, up 25 percent from a year ago.
The Chrysler earnings keep it on track to reach its goal of earning $1.5 billion for 2012, and $25 billion in revenue. The results are the best since Chrysler began reporting quarterly profits again after its bailout.
The strong results mean that Chrysler’s 26,000 U.S. hourly workers will get bonuses of $1,750 each for 2011.
Read more about Chrysler’s results in The New York Times.