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Chrysler reports first quarter profit

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A Ram truck grill logo is shown at the Criswell Chrysler-Dodge-Jeep-Fiat-Ram truck dealership in Gaithersburg, Maryland October 2, 2012. REU
A Ram truck grill logo is shown at the Criswell Chrysler-Dodge-Jeep-Fiat-Ram truck dealership in Gaithersburg, Maryland October 2, 2012. REU

AUBURN HILLS (WKZO) -- The first three months of the year saw Chrysler earn a net profit of 166-million dollars.

The figure was down dramatically compared to the same period last year however officials say that was due to lower vehicle shipments related to the launch of the new Jeep Grand Cherokee and RAM Heavy Duty pickup.  CEO Sergio Marchionne says the automaker is on track to an operating profit of 3.8-billion dollars this year.

Last year, the automaker made a profit of 1.7-billion dollars.

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