DETROIT (AP) — Chrysler Group's third-quarter net profit rose 32 percent as worldwide sales continued to climb, helping the U.S. company prop up its ailing parent.
Chrysler made $611 million in the July-through-September quarter, compared with $464 million a year ago. Revenue rose nearly 18 percent to $20.7 billion.
Fiat and Chrysler last month finished a five-year merger process to form Fiat Chrysler Automobiles. Without Chrysler, the Netherlands-based parent company would have posted a loss last quarter. It made only $221 million.
Chrysler says its worldwide sales grew 18 percent in the quarter to 711,000 vehicles. Most of the increase in was in the U.S., where retail sales grew 20 percent largely because of the new Jeep Cherokee small SUV and Chrysler 200 sedan.
Chrysler's U.S. market share also continued to grow during the quarter, rising 1.1 percentage points to 12.3 percent. Outside North America, sales rose 11 percent to 91,000.
The Auburn Hills, Michigan, company raised its full-year forecast for worldwide vehicle shipments by 100,000 vehicles. It now expects to ship about 2.9 million cars and trucks. It expects revenue of more than $80 billion for the year.
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