April 29 (Reuters) - Chrysler Group LLC's quarterly profit fell 65 percent as it absorbed the costs of new-vehicle launches, the company said on Monday.
The No. 3 U.S. automaker also reaffirmed its financial forecasts for 2013, including net income of about $2.2 billion.
"We remain on track to achieve our business targets, even as the first-quarter results were affected by an aggressive product launch schedule," said Sergio Marchionne, chief executive officer of Chrysler as well as of its parent, Fiat SpA.
Net income in the first quarter fell to $166 million from $473 million a year before.
Net revenue fell 6 percent to $15.4 billion in the quarter.
Fiat is to release its first-quarter earnings later this morning.