Resurgent Chrysler tops auto sales

January results best in Canada

Chrysler Group continued its Lazarus-like performance in Canada and the United States on Wednesday, posting its first annual net profit since emerging from bankruptcy in 2009 and generating record-setting, double-digit monthly sales gains on both sides of the border.

“It’s been an exceptional year for Chrysler in terms of the achievements of its own ambitions,” CEO Sergio Marchionne said during a financial results conference call. “We’ve delivered on everything we’ve told you we’d be doing as far back as 2009.”

Chrysler posted a net profit of $183 million for 2011 — up from a net loss of $652 million in 2010. Net revenue for the year was $55 billion, up 31 per cent over last year.

Chrysler also became the topselling automaker in Canada last month, knocking Ford out of top spot, with a sales gain of 22 per cent compared with the same period last year. Chrysler has only ranked No. 1 once before, in February 2009, said Louann Gosselin, spokeswoman for Chrysler Canada.

January’s gains marked the company’s 26th consecutive month of year-over-year sales growth. January sales were 16,584 compared with 13,587 a year earlier — the highest retail sales figure for January since 2002.

The carmaker’s U.S. sales skyrocketed 44 per cent.

Nearly every automaker, with the exception of General Motors, announced a strong increase in sales in January, a performance automotive consultant Dennis Desrosiers summed up in one word: Wow.

“January light vehicle sales in

It’s been an exceptional year for Chrysler in terms of the achievements of its own ambitions. We’ve delivered on everything we’ve told you we’d be doing as far

back as 2009.

Sergio Marchionne, Chrysler Group CEO

Canada surprised everyone including myself with an increase of 15.4 per cent and a (seasonally adjusted annual rate) tracking at 1.7 million units, the highest level in four years,” Desrosiers said.

Chrysler said January’s sales jump in the U.S. was largely driven by demand for the Chrysler 300 flagship sedan, Chrysler 200 mid-size car, Jeep brand models and Ram pickup trucks.

Meanwhile, Ford saw Canadian sales rise five per cent last month compared with the same period last year. In the U.S., sales rose seven per cent.

General Motors experienced an 11 per cent sales drop in Canada and a six per cent decline in the U.S.

Honda Canada saw sales more than double to more team 9,100 vehicles and Toyota Canada posted it best January sales so far with an 18 per cent gain.

The upbeat results prompted a promise by Marchionne to award performance bonuses to its global salaried employees as well as its unionized workers in the U.S. The UAW has a profit-sharing agreement in its collective agreement.