Chrysler Group LLC's first-quarter profit fell 65 percent compared with a year earlier as a result of lower auto shipments due to idled factories and higher retooling costs ahead of the launch of several new vehicles, the Wall Street Journal reported today. The Auburn Hills, Mich.-based automaker said that profit fell due to lower output at several factories preparing for the launch of new vehicles, such as the 2014 Jeep Cherokee. It also cited higher costs associated with upgrading plants to build new versions of its Ram heavy duty pickup trucks and Jeep Grand Cherokee.
