Chrysler Group LLC, the U.S. automaker now wholly owned by Fiat S.p.A. (ADR) (OTCMKTS:FIATY) (BIT:F), has reported a $690 million loss for the first quarter despite a 23% increase in revenues, which rose to $19 billion, and and a 10% increase in sales.
Chrysler has reported 49 straight months of year-over-year growth in U.S. vehicle sales, powered by its Ram and Jeep light-truck brands.
Performance dragged down by special charge
The U.S. automaker took a $504 million hit as it wiped out debt related to the prepayment of the United Auto Workers Retiree Medical Benefits Trust Note. The Auburn Hills automaker also incurred...
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