Chrysler Enjoys Strongest Year Since Bailout

Net income surged on strong sales of Ram pickups and Jeep Grand Cherokees

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Geoff Robins / AFP / Getty Images

Alistair Gardner, President and CEO of Chrysler, introduces the 2015 Chrysler 200 at the International Auto Show in Detroit, Jan. 13, 2014.

Auto giant Chrysler Group posted large increases in net income in the fourth quarter of 2013 that were amplified by one-time tax benefits, the company announced Wednesday, capping off the company’s strongest year since its bailout.

The company’s total fourth-quarter net income more than quadrupled to $1.62 billion, when tax benefits were included. But the company still made $659 million without them, a 74 percent increase from a year ago, reports the Associated Press. Chrysler is owned by Italian car company Fiat, which owned 58.5 percent of Chrysler last year but has since bought the rest of the company.

Chrysler said strong U.S. sales of Ram pickups and Jeep Grand Cherokees helped boost its quarterly sales, and the company saw its strongest year since emerging from bankruptcy in 2009, when it received bailouts totaling over $1 billion from the federal government.