Exhibit 99.1

CHRYSLER GROUP REPORTS FULL YEAR 2011 NET INCOME OF $183 MILLION

CHRYSLER GROUP’S FULL YEAR 2011 MODIFIED OPERATING PROFIT MORE THAN DOUBLED TO

$2 BILLION WITH FREE CASH FLOW OF $1.9 BILLION

AUBURN HILLS, Mich., Feb. 1, 2012 – Chrysler Group LLC today reported preliminary net income of $183 million for the full year 2011, up from a net loss of $652 million a year ago, exceeding the objective set in November 2009.

The Company’s full year net income included a $551 million loss on extinguishment of debt recognized in the second quarter of 2011, when the Company repaid its outstanding obligations to the U.S. Treasury and Canadian governments in full, with interest, six years early. Excluding the charge, Adjusted Net Income^(a) for the full year 2011 was $734 million, exceeding the Company’s 2011 guidance and further delivering on the goals established two years ago.

Note   – See definitions of Non-U.S. GAAP Financial Information and Other Items included in the press release

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For the fourth quarter, net income was $225 million, up from a loss of $199 million a year earlier, as the Company continues to increase sales of its successful new and significantly refreshed vehicles.

As of January 2012, Chrysler Group has achieved all three performance events set forth in its Amended and Restated LLC Operating Agreement. As a result of achieving these events, and in combination with other transactions, Fiat S.p.A. now owns 58.5 percent of the membership interests in Chrysler Group.

“The house is in good order. We are proud of the work we’ve done,” said Sergio Marchionne, Chairman and Chief Executive Officer of Chrysler Group LLC. “Now we greet a new year of high expectations with our heads down, forging ahead and focused on executing the goals we’ve set for ourselves as a company.”

Full year 2011 net revenue totaled $55.0 billion, a 31 percent increase from 2010, driven by increased consumer demand for Chrysler Group’s new and significantly refreshed vehicles. In the fourth quarter, net revenue was $15.1 billion, up 41 percent from the prior year.

The Company reported a full year 2011 Modified Operating Profit of $2.0 billion, more than 2.5 times the prior year’s level. The increase resulted from higher sales volume and improved pricing and mix, partially offset by increased advertising and industrial costs. Modified Operating Profit for the fourth quarter 2011 was $508 million, or 3.4 percent of net revenue, up from $198 million, or 1.8 percent of net revenue, in the fourth quarter 2010.

Modified EBITDA^(c) was $4.8 billion for full year 2011, or 8.6 percent of net revenue, an increase of 37 percent versus the prior year. Fourth quarter 2011 Modified EBITDA increased 33 percent to $1.2 billion.

Interest expense for the full year 2011 totaled $1.2 billion, including $170 million of non-cash interest accretion, versus $1.3 billion in 2010, including non-cash interest accretion of $229 million. Fourth quarter 2011 interest expense was $280 million, including non-cash interest accretion of $32 million. This compares with $336 million of interest expense, including non-cash interest accretion of $57 million, in the fourth quarter of 2010.

Cash as of December 31, 2011, was $9.6 billion compared with $9.5 billion as of September 30, 2011, and $7.3 billion as of December 31, 2010. Total available liquidity totaled $10.9 billion, including $1.3 billion available under a revolving credit facility. Free Cash Flow totaled a positive $1.9 billion for the full year 2011, and a negative $54 million for the fourth quarter 2011.

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Gross Industrial Debt^(f) at December 31, 2011, totaled $12.5 billion, slightly higher than the $12.3 billion at September 30, 2011, and lower than the $13.1 billion at December 31, 2010. Net Industrial Debt^(f) was $2.9 billion at the end of the quarter, consistent with the level at September 30, 2011, and reduced by nearly 50 percent from the $5.8 billion at December 31, 2010.

Worldwide vehicle sales were 1,855,000 for the full year 2011, up 22 percent from 1,516,000 vehicles in 2010, driven primarily by a 43 percent increase in U.S. retail sales. The improvement reflects increased consumer confidence in our new and significantly refreshed products. Chrysler Group’s U.S. market share increased to 10.5 percent for the year from 9.2 percent in 2010. Fourth quarter 2011 U.S. market share was 10.8 percent, up 2.0 percentage points from the fourth quarter 2010.

Worldwide vehicle shipments for full year and fourth quarter 2011 were 2,011,000 and 543,000, respectively, an increase of 26 percent and 42 percent compared with the full year and fourth quarter 2010, respectively.

2012 Guidance

The targets for 2012 are as follows:

Significant Corporate Events Since Third Quarter 2011

Oct. 18: Chrysler Group committed to invest $165 million to add a body shop at its Sterling Heights Assembly Plant, Michigan.

Oct. 26: The UAW ratified a new four-year national labor agreement with Chrysler Group.

Nov. 16: Chrysler Group announced a $1.7 billion investment for the next generation Jeep SUV and added a second shift of production at its Toledo, Ohio, complex.

Dec. 13: Chrysler Group announced it will reopen its Conner Avenue Assembly Plant in Detroit to produce the next generation SRT Viper. The plant’s reopening will bring nearly 150 jobs back to the city of Detroit.

Jan. 5, 2012: Chrysler Group announced that it had achieved its third performance event outlined in its Amended and Restated LLC Operating Agreement, by committing to produce a vehicle built in the United States based on Fiat technology that achieves an unadjusted combined fuel-economy rating of at least 40 mpg. Chrysler Group achieved this milestone with a pre-production version of the all-new 2013 Dodge Dart in December 2011. The unadjusted combined fuel-economy rating may vary from

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the rating disclosed to consumers at point of sale. The achievement resulted in Fiat’s ownership interest in Chrysler Group increasing to 58.5 percent from 53.5 percent (fully diluted). The VEBA Trust owns the remaining 41.5 percent of the membership interests in the Company.

Jan. 5: Chrysler Group strengthened ties with the city of Detroit, announcing that it will add a third crew and 1,100 new jobs at its Jefferson North Assembly Plant in Detroit. Further, the Jeep Grand Cherokee lineup will be expanded with a diesel version for North America which will be built at the Jefferson North Assembly Plant.

Jan. 6: Chairman and CEO Sergio Marchionne was named as the new campaign chair for the 2012 United Way for Southeastern Michigan campaign. As campaign chair, Marchionne will work to promote the growth and impact of the campaign among businesses and individuals.

Product and Corporate News

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Additional Information

The Company will present its preliminary fourth quarter and full year financial results during an analyst webcast and conference call at 8 a.m. Eastern Standard Time on Feb. 1, 2012, at www.chryslergroupllc.com. A recording of the call will be posted on the same Chrysler Group website about 90 minutes after the conclusion of the call.

The Company intends to publish financial statements for the year ended December 31, 2011, prepared in accordance with U.S. GAAP, in March 2012, when it plans to file its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission (SEC).

Effective May 24, 2011, and in accordance with IFRS, Fiat S.p.A. was required to consolidate Chrysler Group’s IFRS financial results in its consolidated financial statements. Certain preliminary Chrysler Group financial results prepared in accordance with IFRS will be included in the Fiat S.p.A. earnings release, which will be available on the Investor Relations tab of the Fiat S.p.A. website on or after February 1, 2012 (http://www.fiatspa.com/en-US/investor_relations/investors/Pages/investors.aspx).

Non-U.S. GAAP Financial Information and Other Items

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Forward-Looking Statements

This document contains forward-looking statements that reflect management’s current views with respect to future events. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “should” and similar expressions identify forward-looking statements. Such statements are subject to risks and uncertainties, including, but not limited to: the effective implementation of the Chrysler Group LLC 2010 – 2014 Business Plan outlined on November 4, 2009, including successful vehicle launches; industry SAAR levels; continued economic weakness, especially in North America, including continued high unemployment levels and limited availability of affordably priced financing for our dealers and consumers; introduction of competing products and competitive pressures which may limit our ability to reduce sales incentives; supply disruptions resulting from natural disasters and other events impacting our supply chain; and our ability to realize benefits from our industrial alliance with Fiat. If any of these or other risks and uncertainties occur, or if the assumptions underlying any of these statements prove incorrect, then actual results may be materially different from those expressed or implied by such statements. We do not intend or assume any obligation to update any forward-looking statement, which speaks only as of the date on which it is made. Further details of potential risks that may affect Chrysler Group are described in Chrysler Group’s Form 10, as amended, and its subsequent periodic reports filed with the SEC.

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About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 to establish a global strategic alliance with Fiat S.p.A., produces Chrysler, Jeep, Dodge, Ram, Mopar, SRT and Fiat vehicles and products. With the resources, technology and worldwide distribution network required to compete on a global scale, the alliance builds on Chrysler Group’s culture of innovation, first established by Walter P. Chrysler in 1925, and Fiat’s complementary technology that dates back to its founding in 1899.

Headquartered in Auburn Hills, Mich., Chrysler Group’s product lineup features some of the world’s most recognizable vehicles, including the Chrysler 300 and Town & Country, Jeep Wrangler, Dodge Durango, Ram 1500, Jeep Grand Cherokee SRT8 and Fiat 500. Fiat contributes world-class technology, platforms and powertrains for small- and medium-size cars, allowing Chrysler Group to offer an expanded product line including environmentally friendly vehicles.

Contacts:

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Attachment

These financial results are presented on a preliminary basis and will be superseded by the financial results included in Chrysler Group’s Annual Report on Form 10-K to be filed for the period ended December 31, 2011.

Table 1: Reconciliation of Net Income to Adjusted Net Income, Modified Operating Profit and Modified EBITDA

Table 2: Reconciliation of Cash Flows from Operating and Investing Activities to Free Cash Flow

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Table 3: Reconciliation of Financial Liabilities to Gross Industrial Debt and Net Industrial Debt

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