Business in brief
Chrysler’s first-quarter profit tumbled 65 percent as shipments of cars and trucks fell while it prepared factories to launch several key new vehicles.
The Auburn Hills, Mich., company said Monday that it earned $166 million in the January-March quarter, compared with $473 million a year ago. Revenue fell 6 percent to $15.4 billion.
Chrysler, which is majority-owned by Italy’s Fiat SpA, said worldwide vehicle shipments fell 6 percent during the quarter to 574,000.