Chrysler Turnaround Good Sign For Ohio Auto Industry

The sales numbers are different than they were just two years ago for Byers Chrysler-Dodge-Jeep-Ram in Columbus.

"We are actually up about 85 percent on Jeep sales and about 40 percent on our Chryslers, so overall about 60 percent which is superb.  I'll take those numbers anytime," said George Kauffman, VP of Byers Automotive.

Kauffman said Chrysler is on the upswing with the U.S. automaker reporting its first annual net income since 1997. The company said that it made $183 million last year as revenue rose 31 percent to $55 billion.

The net income marks a huge turnaround. In 2010, Chrysler lost $652 million as it worked to revamp its aging model lineup, reported ONN's Denise Alex.

"We were definitely scared there for a short time," said Kauffman.

Kauffman said that other brands picked up where Chrysler dropped off. 

Chrysler expects an even better 2012, despite a sluggish and uncertain economy. The company, which sells most of its vehicles in the U.S., predicts it will make about $1.5 billion this year and increase revenue 18 percent.

Now, with inventory coming in steady and a product that can compete with high end manufacturers like Audi and Lexus, it's a new beginning for Chrysler which is pushing it's 2 and 300 series.

"I remember I used to see a Sebring when I was young and kind of cringe," said Andrew Warner, who is looking to buy a car. Warner said the new vehicles, like the Avenger, will bring younger people to the dealership.

Chrysler expects the good performance to continue. 

The company said better gas mileage and better made vehicles will equal more customers.

Chrysler still faces challenges this year, especially from strong competition in its main market, the U.S. Although its U.S. market share rose 1.3 percentage points to 10.7 percent, it came during a year in which Honda and Toyota dealers ran short of models because the March earthquake and Tsunami in Japan. The disasters hampered their factories' output.
 
Also, Chrysler's prime U.S. competitors, Ford Motor Co. and General Motors Co., are rolling out many new products this year, as are Korean automakers Hyundai Motor Co. and Kia Motors.

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