Chrysler Earnings Down Q1 2013

The market was shocked by the results. Profits were down 65% due to "costly new product launches." Net Q1 revenue fell 6%. They're still making a boat load of Q1 money ($15.4B).

Fiat says no worries, expects a strong second half for 2013, still plans to meet targets, buy outstanding stock, and take Chrysler public.

They really did bang out a lot of new products: 1500, 200, 300, Town and Country, Dart, Jeeps, engines, transmissions. It's curious revenues were still down 6%.

http://www.cnbc.com/id/100684110