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Chrysler reports higher 2013 profit

AUBURN HILLS (WKZO) -- Chrysler has announced it earned a 659-million dollar profit in the fourth quarter of 2013 and a profit of 1.8-billion for the year.

The results were both higher compared to 2012 figures, but profits did suffer somewhat due to higher costs associated with the launch of new products including the Jeep Cherokee.  The automaker delayed the launch for a couple of months while ironing out software problems associated with the vehicle's nine-speed automatic transmission.

Overall 2013 revenue was 72-billion dollars for 2013 which was ten-percent higher than 2012.