Chrysler reported this week that it earned approximately $507 million in the second quarter, up over 16 percent from the same time period in 2012.
The Detroit automaker, who is still recovering from its 2009 bankruptcy, has now reported eight consecutive positive quarters according to USA Today.
"We're relatively satisfied with the performance of Chrysler in the second quarter," Chrysler Group CEO Sergio Marchionne said during a call with analysts Tuesday morning. "Indications for the rest of the year are positive. I really have no bad news to report."
Marchionne also confirmed that product launches and production increases will be "stronger" in the second half of 2013, which will increase the company's earnings significantly.
"As we have highlighted previously, the timing of product launches and capacity increases causes this year's performance to be biased to the second half, and a continued aggressive drive for excellence and flawless execution will be essential to attain the targets we've set for ourselves," said Marchionne in a press statement.
Despite the good news, and Marchionne's expectations, Chrysler cut its forecast total for the year.
The company said it now predicts it'll make somewhere between $1.7 billion and $2.2 billion for the year and sell somewhere between 2.6 million trucks and cars according to The Detroit Free Press.
The company previously expected a profit of $2.2 billion and 2.7 million new vehicles.
Its parent company, Fiat, earned $577.4 million, which is up 82 percent from last year, according to USA Today.
Approximately 69 percent of the profits Fiat earned came from North America, which helped offset the economic decline still going on in Europe.
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