Reports Profit; GM, Ford
Down. The good news: Chrysler Group has just announced a second quarter profit of $436 million. Compared to last year at this time, they lost $370 million after repaying their government loans, but it's clear they're making fantastic progress and are still on track to meet profit targets for 2012.
Now for the bad news: both GM and Ford reported losses for the same time period despite US sales going well. The problem for both automakers is Europe, where their operations have taken significant hits due to the ongoing financial crisis plaguing the continent.