Chrysler 2012 profit jumps on higher sales; forecasts higher profit for 2013

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DETROIT - Chrysler says its profit jumped to $1.7 billion in 2012 as sales rose 18 per cent.

Chrysler's profit was nine times higher than the $183 million recorded in 2011.

The results mark another step in Chrysler's remarkable turnaround. The company went bankrupt during the U.S. recession in 2009 and needed a $12.5 billion loan from taxpayers to survive.

The No. 3 U.S. automaker sold 2.2 million cars and trucks worldwide last year.

Revenue increased 20 per cent to $65.8 billion.

Chrysler expects its net income to rise to around $2.2 billion this year, on revenue of between $72 billion and $75 billion.

Geographic location: U.S., DETROIT

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