Chrysler 2011 Annual Report Download - page 108

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Report on Operations
Chrysler
Highlights
(€ million) 2011 (*)
Net revenues 23,609
Trading profit/(loss) 1,345
Operating profit/(loss) (**) 1,200
Investments in tangible and intangible assets 1,936
of which capitalized R&D costs 379
Total R&D expenditure (***) 764
Vehicles shipped (units) 2,011,000
Employees at year end 55,687
(*) All figures are for June-December 2011, except vehicle shipments which are for the full year
(**) Includes restructuring costs and other unusual income/(expense)
(***) Includes capitalized R&D and R&D charged directly to the income statement
Operating Performance
For full-year 2011, worldwide vehicle shipments totaled 2,011,000 units, representing a 26% increase over
2010. U.S. vehicle shipments were 1,453,000 (up 28% over 2010); Canada vehicle shipments were 233,000
(up 7%); and vehicle shipments in other regions totaled 325,000 (up 32%).
Worldwide vehicle sales8 totaled 1,855,000 for the full year, an increase of 22% over 2010. Vehicle sales for the
year increased 26% in the U.S. to 1,369,000 and 13% in Canada to 231,000, continuing to outpace the market
in both countries.
The U.S. market closed 2011 up 11% to 13 million vehicles. Chrysler’s U.S. market share was 10.5% for the
year, compared to 9.2% for 2010. U.S. vehicle sales for Jeep totaled 419,000, increasing 44% over the prior
year. The increase was led by the Jeep Compass (up 200%), the Jeep Grand Cherokee (up 51%) and the Jeep
Wrangler (up 30%). The Dodge brand posted U.S. vehicle sales of 451,000 for 2011, up 18% from the prior
year. Contributing to the increase was the Dodge Durango with sales totaling 52,000 and the Dodge Journey
(up 14%). Ram Truck posted a U.S. sales increase of 21% for 2011 to 258,000, reflecting sales gains for all
Ram pickup trucks (light-duty, heavy-duty and cab chassis). For Chrysler brand, U.S. sales totaled 221,000,
an increase of 12% over the prior year. Sales of the Chrysler 200, which totaled 87,000 (including the 200
convertible), compensated for the slight decrease in sales of the Chrysler 300, launched in early 2011, and the
Chrysler Town & Country. For the Fiat brand, full-year sales of the 500 and 500 Cabrio in the U.S. and Canada
totaled 25,000.
The Canadian market grew 2% in 2011 to 1.6 million vehicles. Chrysler’s total market share was up 1.3 p.p.
over the prior year to 14.3%. Key performers in Canada included the Jeep Compass (up 44%), the Jeep Grand
Cherokee (up 42%), the Jeep Wrangler (up 41%), the Dodge Journey (up 22%) and the Ram Pickup (up 18%).
Vehicle sales in other markets increased 13% over the prior year to 255,000. International markets, excluding
Mexico, increased 17%.
(8) “Sales”: represents sales to end customers as reported by Chrysler dealer network