Chrysler Group LLC Posts 18% Rev Growth For Q3

Chrysler Group LLC posted an 18 percent increase in third-quarter revenue driven by higher shipments of its Jeep Cherokee and new Chrysler 200 model vehicles. The privately held Auburn Hill, Mich., automaker also reiterated its 2014 outlook calling for adjusted operating profit of $3.7 billion to $4 billion, on revenue of $80 billion. Third-quarter net income grew 32 percent to $611 million, from $464 million in the same quarter a year ago. Revenue increased to $20.7 billion, from $17.6 billion last year. Adjusted operating profit rose 10 percent to $946 million, from a year-earlier $862 million. During the recent period, total vehicle sales grew 18 percent to 711,000 units, from 603,000 a year ago U.S. market share increased to 12.3 percent for the quarter, up from 11.2 percent a year ago; market share in Canada was 14.9 percent for the quarter, up from 14.3 percent last year.