Chrysler ends 2012 on a high note

January 30, 2013 12:00 AM

Chrysler may have declared bankruptcy just three years ago, but the automaker has rebounded well enough to post some impressive profits in 2012. Despite being the smallest U.S. manufacturer, the company brought in more than $1.66 billion in the past 12 months, which is nearly nine times what it earned in 2011, The New York Times reports. 

Last year the automaker sold about 2.2 million cars and trucks across the globe, which is an increase of about 18 percent over 2011. Strong sales from brands like Jeep and Ram helped bolster the bottom line.

"The goals we've set for the year ahead reflect a common desire by everyone from leadership to the shop floor to succeed and sustain the power of the house we are building," chief executive officer Sergio Marchionne told USA Today. "Our aim is meaningful, but it is not complicated, and only a preoccupation with quality can achieve it." 

One of the reasons the automaker has improved so rapidly is because it has been testing its vehicles more comprehensively, the news source reports. This has decreased the costs it eventually has to spend on auto repair within warranties while also making the low maintenance cars more attractive to everyday drivers.

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