Chrysler, Auto Industry | featured news

Chrysler sales rose 20 percent last month, its strongest April in four years. General Motors and Ford reported slight dips for the month. Overall, the U.S. auto industry appears strong.

In seeking support in Michigan, Obama speaks frequently about how the federal bailout of General Motors Co. and Chrysler Group led to GM's resurgence as the world's No. 1 automaker and 32,000 more auto-related jobs in the state since the companies emerged from their 2009 managed bankruptcies. Romney opposed the move, even writing a New York Times opinion piece in 2008 that carried the headline "Let Detroit Go Bankrupt."

The auto industry looks set to ride the appeal of smaller cars to its best monthly performance since 2008. Chrysler reported a 34 percent increase in March auto sales.

Chrysler is recalling nearly 210,000 Jeep Liberty sport utility vehicles due to potential problems resulting from excessive corrosion that could lead to a loss of control by the driver.

Chrysler says its U.S. sales rose 26 percent last year as its turnaround gained traction. The company ended the year with a 37 percent increase in December sales on strong demand for the Jeep Wrangler and Chrysler 200 sedan. Chrysler is among the first carmakers to report sales Wednesday.

Hourly workers represented by the United Auto Workers ratified a labor deal with Ford Motor Co on Wednesday, leaving Chrysler as the last U.S. automaker without a finalized contract.

General Motors Co and Chrysler Group reported September U.S. auto sales gains of at least 20 percent, a sign that consumers have returned as vehicle inventories have risen after being crimped by the March earthquake in Japan.

General Motors said its sales increased 7.6 percent from a year ago. Ford’s were up 6.1 percent and Chrysler’s rose 20.1 percent.

Both companies report rising sales, but Ford Motor Co. says profits fell about 8% compared with the same period last year as the automaker paid off debt and invested in new vehicles.

The Treasury Department said Thursday it has exited its investment in Chrysler LLC after Italian automaker Fiat SpA purchased the U.S. government's remaining holdings in the auto company.