Auburn Hills, Michigan – Chrysler has turned its first profit since the new company began its operations in June 2009.

Chrysler Group LLC said that, according to its preliminary financial results for the first quarter of 2011, it had a net income of US$116 million, compared to a net loss of $197 million in the first quarter of 2010.

“Chrysler Group’s improved sales and financial performance in the first quarter show that our rejuvenated product lineup is gaining momentum in the marketplace and resonating with customers,” said CEO Sergio Marchionne. “These results are a testament to the hard work and dedication of our employees, suppliers and dealers, all of whom are helping Chrysler create a new corporate culture built on the quality of our products and processes, and simple, sound management principles.”

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