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AUBURN HILLS, Mich. — Chrysler Group's effort to join its domestic manufacturing brethren with encouraging progress during the ongoing industry turnaround took another positive step Monday.

The automaker released its second-quarter results, which included gains in net revenue, operating profit and available cash.

Executives indicated net revenue in the second quarter came in at $10.5 billion, a figure that's up 8.2 percent from the total in the first quarter. They mentioned it was $9.7 billion during that span.

As a result, Chrysler said its operating profit is $183 million. Again, the category improved from the previous quarter when the company reported $40 million in operating profit.

Executives explained the enhanced profit stemmed from continued volume increases, but the improvement was partially offset by the impact of the Jeep Grand Cherokee changeover and moderate increases in incentive programs.

Furthermore, the company said its modified EBITDA registered $855 million, marking a $68 million increase from the first quarter of this year.

All told, Chrysler still sustained a net loss of $172 million during the second quarter. But executives quickly pointed out that they reduced this figure from the $197 million sustained in the first quarter of 2010.

The additional revenue has left Chrysler with more available liquidity. The automaker increased its cash amount to $7.8 billion during the second quarter, leaving it with more than $10 billion in available liquidity.

Beyond the financial details, chief executive officer Sergio Marchionne highlighted how Chrysler gained U.S. market share during the second quarter by move to 9.4 percent from 9.1 percent in the previous quarter.

Marchionne also pointed out the manufacturer's even stronger market position in Canada, which stood at 12.9 percent at the close of the second quarter.

Despite results in the right direction, Marchionne kept his usual cautious tone when discussing the company's performance.

"The second quarter operating profit confirms that Chrysler Group is on track to achieve its goals, yet an extraordinary amount of work still lies ahead," Marchionne insisted.

"Customer traffic in our dealerships and confidence in the company's future continued to grow with the launch of the all-new 2011 Jeep Grand Cherokee, one of the signature vehicles for Chrysler Group," he continued. "The Grand Cherokee sets the standard for this company to produce high quality, technologically advanced vehicles."

The Chrysler CEO went on to touch on a subject especially pertinent to franchise dealers — the arrival of fresh inventory beyond the previously mentioned Jeep model.

Marchionne reiterated that "2010 is seen as a year of transition and stabilization."

He went on to say that, "with most of our 16 all-new or refreshed products launching later this year, including the all-new Chrysler 300, Dodge Charger, Dodge CUV, the iconic Fiat 500 and the Chrysler Sebring replacement, Chrysler Group must continue to be rigorous, disciplined and focused on the task at hand."

Specific Sales, Shipment Data

Worldwide vehicle sales for Chrysler totaled 407,000 units during the second quarter. This marked 22-percent upswing from the previous quarter, which came in at 334,000 units.

The automaker said the quarter-over-quarter gain was posted across all of its brands.

"Throughout the quarter, sales showed steady growth as brand repositioning efforts and investments in marketing campaigns continued to drive increased customer traffic into dealership showrooms," Chrysler executives emphasized.

Meanwhile, the company mentioned its worldwide vehicle shipments during the second quarter were 433,000, a 14-percent increase over the first quarter.

Most of that total was for U.S. vehicle shipments, a sum of 305,000. That figure is approximately 16 percent higher than the first-quarter total.

Chrysler said it maintained a U.S. dealer inventory level consistent with its higher sales performance. The OEM calculated that it increased the level from 208,000 units at the close of the first quarter to 222,000 at the end of the most recent quarter.

"Days supply increased slightly to 60 days from 58, ensuring that Chrysler dealers will be able to service customers during the model year changeover period," the manufacturer noted.

Outlook for the Rest of 2010

Chrysler shared what its targets are going forward. They include:

—Net Revenues of $40 to $45 billion.

—Operating Profit approaching $0.2 billion.

—Modified EBITDA of $2.5 to $2.7 billion.

—Negative Free Cash Flow of $1.0 billion.

Recapping Major Events Thus Far This Year

Along with sharing its latest financial report, Chrysler reviewed the significant happenings the company has enjoyed during the first half of 2010.

—On May 21, the company celebrated the production launch of the all-new 2011 Jeep Grand Cherokee at the Jefferson North Assembly Plant (JNAP). Concurrently, Chrysler announced the addition of a second shift of production with about 1,100 employees hired.

In preparation for the new product, executives noted JNAP went through a complete transformation as part of World Class Manufacturing, taking the plant to world class levels of flexibility and competitiveness.

—The OEM highlighted how the Jeep Grand Cherokee garnered widespread global opinion-leader accolades and also received the Top Safety Pick award from the Insurance Institute for Highway Safety (IIHS).

—On July 30, more than 1,500 UAW-represented employees welcomed President Obama to JNAP.

"The President visited the plant to see a company on the road to recovery and to congratulate employees for their contributions to Chrysler Group's success," officials contended.

—During the second quarter, Chrysler announced two significant investments in its Kokomo, Ind., facilities. In May, the company detailed a $43 million investment in new equipment and tooling that will expand operations at the Kokomo Casting and Kokomo Transmission plants. On June 9, an additional $300 million investment in Indiana Transmission Plant I and Kokomo Casting was revealed that will prepare the plants for the production of a new, highly fuel-efficient, eight-speed automatic transmission.

The manufacturer stressed the investments will result in nearly 1,600 new or retained jobs.

—As part of the process to integrate the distribution activities of Fiat Group Automobiles and Chrysler Group in Europe, in May, the two companies began the reorganization and integration of the Chrysler and Lancia sales networks. Executives believe this process will lead to the creation of an integrated network of more than 1,000 dealerships across Europe by 2014.

—Chrysler projected its European and South American sales will double between 2010 and 2011 to nearly 200,000 sales. The company thinks this forecasted spike is largely attributable to Chrysler's ability to leverage Fiat's international distribution networks.

During the second quarter, officials mentioned distribution of Chrysler vehicles under this new integrated business model began in Italy, France, Sweden, Denmark, Germany, Belgium and the Netherlands.

—In May, Chrysler established an agreement with Santander Consumer USA to provide new-vehicle financing to consumers with credit scores below 650, traditionally considered non-prime customers. The automaker reiterated Ally Financial remains Chrysler's preferred prime lender.

—In addition to the Jeep Grand Cherokee, the company introduced several other units during the second quarter. This group included the all-new 2011 Ram Chassis Cab commercial truck, the 2010 Dodge Viper SRT10 ACR-X and the Mopar 2010 Dodge Challenger.

—Other honors the manufacturer received were the all-new 2010 Ram Heavy Duty and Dodge Nitro being named the Top Heavy Duty Pickup and Top Mid-Size Sport Utility, respectively, in the AutoPacific 14th annual Vehicle Satisfaction Awards (VSA).

—On July 2, Chrysler de Mexico, a subsidiary of Chrysler Group, entered into a financing arrangement with Bancomext and Nafin, for the Mexican peso equivalent of $400 million. Executives indicated the facility was fully drawn in July while the proceeds are to be used to finance the production of the Fiat 500 at the Toluca, Mexico, plant.

—Officials recapped that the dealer arbitration process concluded in July with more than 70 percent of arbitrator decisions in Chrysler's favor. About 4 percent of the 789 dealers rejected during the bankruptcy process prevailed in arbitrations. Chrysler issued a Letter of Intent to each of the prevailing dealers to join Chrysler's dealer network, provided they meet financial and operational prerequisites.

—On July 30, the company announced that its Sterling Heights, Mich., Assembly Plant, which was scheduled to close after 2012, will remain open beyond that date. Management said it's working with city and state officials to finalize certain related tax incentives. Chrysler plans to add nearly 900 jobs on a second shift of production scheduled to start in the first quarter of 2011.