Marchionne: Chrysler turnaround on track despite slowing profits

Marchionne: Chrysler turnaround on track despite slowing profits

Image: Chrysler Group, LLC Headquarters, Auburn Hills, MI

Chrysler Group LLC posted Monday a net profit of $166 million for the first three months of 2013, down nearly 65 percent from the $473 million profit it reported for the first quarter of 2012.

CEO Sergio Marchionne said everyone in Auburn Hills knew the quarter would be down because of the disruption caused by the launch of key new vehicles such as the 2013 Ram Heavy Duty pickup and 2014 Jeep Grand Cherokee, as well as preparations for the upcoming launch of the all-new 2014 Jeep Cherokee. But he acknowledged the introduction of those products was going slower than expected.

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