Associated Press (Detroit) - Chrysler has turned its first profit since leaving bankruptcy, helped by stronger sales of vehicles like the Jeep Grand Cherokee.
The company says it earned $116 million in the first quarter compared with a loss of $197 million a year earlier. Revenues rose 35 per cent to $13.1 billion.
Chrysler's survival was in doubt in early 2009, when it entered bankruptcy protection and needed a $10 billion government bailout. Since then it has shed debt and closed plants and dealerships. The improving economy also helped sales.
Chrysler says sales rose 18 per cent in the January-March period as buyers responded to models like the Grand Cherokee, which has an upgraded interior and improved fuel economy.
Chrysler says buyers were willing to pay more for its vehicles, so it could cut back on discounts that hurt profits.
