Chrysler, Good News | featured news

Chrysler Group LLC reported its first quarterly net profit since emerging from bankruptcy nearly two years ago, helped by a revamped lineup of cars and trucks as well as higher vehicle prices.

An optimistic Chrysler narrowed its net loss significantly in the fourth quarter and forecast a net profit for 2011 as it continued a comeback from bankruptcy protection.

Chrysler Group LLC Chief Executive Sergio Marchionne reiterated that the auto maker "intends to break even" on an operating basis this year and will hit its target of selling 1.1 million new vehicles in the U.S.

The Supreme Court on Tuesday cleared the way for the U.S. government-backed sale of Chrysler LLC to a group led by Italian carmaker Fiat SpA, a victory for the bankrupt automaker and the Obama administration.