Chrysler registers losses of USD690mn in Q1

(MENAFN) According to the Detriot News, the third largest automaker in the U.S., Chrysler Group LLC, registered losses of USD690 million in the first quarter of 2014 after buying out the shares of United Auto Workers trust, Xinhua reported. The Auburn Hills-based automaker's revenue increased 23 percent, hitting USD19 billion, while sales increased 10 percent to 621,000 units during the January-March period. These records were not enough to compensate the unfavorable charges of USD1.2 billion. Chrysler Group kept its 2014 projections for earnings between USD2.3 billion and USD2.5 billion, excluding special items, on net revenue of about USD80 billion.