(MENAFN) US carmaker Chrysler Group LLC reported its strongest quarterly results since Fiat alliance, on increased sales in North America, Reuters reported.
Chrysler said it made USD473 million net profit in the first quarter, up from USD116 million a year earlier.
It also reported 33 percent increase in sales to 523,000 vehicles during the quarter, led by 36 percent increase in US market sales.
First quarter revenue hit USD16.35 billion, up from 13.12 billion a year earlier, the automaker said.
Chrysler confirmed 2012 guidance made in January of achieving net income of about USD1.5 billion, eight times the 2011 net profit of USD183 million.
In 2009, Chrysler was bought by Italian carmaker Fiat SpA after the company's bankruptcy, which was sponsored by the US and Canadian governments.
Fiat's stake in Chrysler is 58.5 percent. The remaining 41.5 percent is owned by the retiree healthcare trust affiliated with the United Auto Workers union, which represents the company's US hourly workers.