(Image source: Chrysler)

BY CELIA MURRAY

ANCHOR CHRISTINA HARTMAN

Chrysler has posted its first annual net income since 1997. This-- just a few years after filing for bankruptcy-- and getting bailed out by the federal government. KENS has the details.

“An automaker that was bailed out by tax payers is now making a profit. Chrysler reported today it raked in $183 million last year...”

So what’s behind the comeback?  Experts believe the sales spike may be due in part to a more modern image for the brand. According to CBC:

“Chrysler spent much of 2010 designing new vehicles and trying to spruce up an archaic lineup that wasn't selling well.”

And as USA Today reports-- it looks like Chrysler is ready to ride the wave-- announcing last month -- it’s hiring thousands of new employees to help with its Jeep Cherokee line.

“Chrysler Group...will hire another 1,100 workers at its Jefferson North Assembly Plant in Detroit to build the diesel and boost production of the Jeep and the mechanically similar Dodge Durango. That will bring employment at JNAP to about 4,000.”

But as good as things are now-- Bloomberg reports automakers, including Chrysler, may lose market share this year despite growth.

“GM, Ford Motor Co. and Chrysler Group LLC, coming off a year in which all three added share for the first time since 1988, may drop a combined 1.3 percent of U.S. market share in 2012...”

What’s on tap for 2012 that could cause Chrysler to dip? The Wall Street Journal explains.

“The company now faces dual challenges to maintaining its sales momentum this year with fewer new models to stir consumers and the return to full production by Japanese auto makers such as Toyota Motor Corp. that were hurt by natural disasters last year.”

The Chrysler CEO Sergio Marchionne is calling 2012 the ‘transition year’, while the ‘real story’ will unfold in 2013.