Chrysler Turns Monster $507 Million ProfitTravis Okulski7/30/13 9:00amFiled to: The Morning ShiftTMS1211EditPromoteShare to KinjaToggle Conversation toolsGo to permalinkThis is The Morning Shift, our one-stop daily roundup of all the auto news that's actually important — all in one place at 9:00 AM. Or, you could spend all day waiting for other sites to parse it out to you one story at a time. Isn't your time more important?Advertisement1st Gear: Chrysler Turns $507 Million ProfitChrysler has been on a bit of a roll lately, and that has just been verified by a $507 million profit for the second quarter of 2013. That's a good thing. It's also a 16 percent increase from the same quarter a year ago.AdvertisementNaturally, Sergio Marchionne is rather pleased about this, but they aren't resting on their laurels.Here's part of what he said in a letter to employees: The competition has noticed our resurgence, and our rivals keep getting better, so we need to get better at a much faster pace. Our values must continue to guide our choices, including the willingness to engage in competition and to better ourselves every day. I want to thank you for your hard work and dedication, which have created the conditions for our profitable growth. We must continue to keep our heads down and pay attention to the fundamentals on all fronts; the second half of this year is full of challenges and it will require a world-class level of execution.For the rest of 2013, they have actually lowered estimates of sales, saying that their vehicle deliveries will be at the low side of the 2.6 to 2.7 million vehicles that they said they'd sell. Income projection are now also between $1.7 to 2.2 billion for the year, not the solid $2.2 billion they had earlier stated. SponsoredStill, for a company that was in the doldrums not too long ago, this is positive news.2nd Gear: But They Might Have A Cherokee Problem This news isn't as positive. Chrysler had planned a media drive of the new Cherokee for early next month in Seattle. We were invited to go, and were looking forward to it.