It's mid-way through 2011 and Chrysler Group LLC continues on the right track. We're still less than two years removed from November 2009 when the company's five-year business plan was laid out, but progress does continue.
That was evident in the second quarter 2011 results Webcast and conference call July 26.
You can read plenty of the details and analysis on Chrysler Group second quarter 2011 earnings at plenty of sites on the web. At the right are our basic financials.
Below are the highlights and some key points you may not find elsewhere. Yes, they're in the Chrysler Group news release and financial results presentation, but not necessarily near the top. But, they're pretty important.
- Compared to second quarter 2010:
- Worldwide vehicle sales increased 19% to 486,000 vehicles.
- U.S. market share was at 10.6%, up from 9.4%
- U.S. fleet mix of total sales was 32%, a decrease from 40%. Total U.S. retail sales increased 36%.
- Canada marketshare was at 14.9%, up from 12.9%
- Total capital expenditures -- fancy term for investments -- was at $600 million. By the end of 2011, expect Chrysler Group to have a total of $3.5-4.0 billion in total investments.The focus on the new investments is on a new C-sedan and 8-speed transmission. (But shhhh! Don't tell anyone.)
- In the U.S. and as around the world, Jeep® Brand lead the growth in sales with units sold up 54%, followed by Ram Truck up 15%, Dodge up 12%, while Chrysler dipped 9%. Marchionne said Fiat's European and Latin America networks have helped push Jeep sales.
- Gross industrial debt through the end of June was $12.3 billion -- down from $13.3 billion as of March 31.
- Worldwide vehicle shipments were 514,000, +19%. It's the first
time the company exceeded 500,000 vehicles in a quarter since
we began operations in June 2009. Through the first six months of
2011, our worldwide shipments totaled 999,000 vehicles, a 23%
increase over the first half of 2010.
- Marchionne noted that the Fiat Freemont (a rebadged and slightly modified Dodge Journey) is pushing about 15,000 units sold every month -- more than the U.S. He hinted that U.S. marketing of the Journey may be increased.
In recent days, there's been a lot of speculation about who and when Marchionne will name his North America and global leadership teams. While stating, "We're a few days away from announcing final leadership structure," he said he is focused on finding the right people who have the right combination of technical skills and communications capabilities. Doing so will produce the "highest possible value" for the company.