New Jeep helps Chrysler narrow loss, lift outlook
DETROIT Chrysler’s new Jeep Grand Cherokee is a hit with drivers, bringing the automaker within sight of profitability and lifting its share of the U.S. market.
The new Jeep is the first of nearly a dozen new cars and trucks, including a small Italian-designed car that Chrysler is introducing in the U.S. by December. Chrysler’s survival is riding on the new arrivals, and it hopes they’re as successful as the Grand Cherokee, whose sales have jumped more than 40 percent so far this year.
Chrysler said Monday it cut its losses in half between the second and third quarters The automaker upgraded its full-year profit forecast, saying it will end the year with more than triple the operating profit it previously forecast.
The 2011 Grand Cherokee debuted in June to strong reviews.
