Chrysler has best quarter since ’98

Strong U.S. sales, higher prices drive up revenue 25 percent.

DETROIT — Chrysler had its best quarterly profit in 13 years. Not bad for a company that almost died three years ago.

The company earned $473 million in the first quarter, mainly from strong U.S. sales, which rose 39 percent from January through March. Customers snapped up Ram pickups, Jeep Grand Cherokee SUVs and Chrysler 200 sedans.

The profit was more than four times what Chrysler made a year earlier. And it was the best performance since the third quarter of 1998 when Chrysler earned $682 million during the pickup truck and SUV boom.

Another reason Chrysler made so much money is because it’s generating more cash every time it sells a car or truck. It’s getting an average of $29,234 per vehicle in the U.S., up almost 5 percent over last year, according to the Truecar.com auto pricing website. When sales and prices both rise, that generates more revenue and profit. Revenue for the quarter rose 25 percent to $16.4 billion.

It’s a big change from 2009. The recession, which devastated auto sales, brought the company to the brink of financial ruin. Chrysler and its financing arm needed $12.5 billion from U.S. taxpayers to survive.

Chrysler is optimistic about the coming year, repeating a forecast that it would make $1.5 billion in 2012. Total car and truck sales in the U.S. are running at an annual rate of 14 million so far. That would be a healthy increase over last year’s 12.8 million.

The average age of vehicles on roads is nearing 11 years, and pent-up demand is helping sales.