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Chrysler banks $507 million in Q2, trims 2013 earnings forecast

Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $1.7 and $2.2 billion, according to Automotive News.
In addition to the adjusted net income forecast, Chrysler tweaked its operating profit from $3.8 billion to between $3.3 and $3.8 billion. This has gone largely unexplained by Chrysler, perhaps hoping the news of a three-percent increase in its transaction prices for Q2 will allow it to sweep this adjustment under the rug.
The star of the show for Chrysler has been its US sales, which saw a 10-percent jump, both bettering the industry average of eight percent and improving over the same stretch of 2012. As with the increase in transaction prices, Chrysler has the new Ram pickup and Jeep Grand Cherokee to thank. Perhaps most worrying from this report, though, is that every brand in the automaker's stable saw an increase in sales... except for the Chrysler brand itself.

Chrysler recalling over 200k vehicles across its brands

With more than 200,000 units across six separate recalls and almost all of its brands, it appears that Chrysler has officially jumped headfirst into the recall pool this month. The National Highway Traffic Safety Administration has issued three official recalls for the automaker, and The Detroit News is reporting that the automaker itself has announced three more.
The biggest of the recalls applies to about 120,000 Dodge Charger, Dodge Challenger and Chrysler 300 models for 2011 and 2012 due to faulty wiring harnesses for the seat-mounted side airbags, which could lead to these airbags not deploying in the event of a crash. A little more than 60,000 two-wheel-drive versions of the 2007-2008 Dodge Nitro and 2008 Jeep Liberty SUVs are being recalled due to a heat shield that could cause the driveshaft to break, which if that isn't bad on its own, could then hit underneath where the airbag sensor is mounted, causing the airbags to deploy. Wrapping up NHTSA's recall notices, about 20,000 Jeep Patriot and Jeep Compass models for 2012 are also being recalled due to a problem with the fuel tank transfer tube that could lead to the vehicle stalling. The LX car recall campaign is going into effect this month, while the other two will start next month - all three notices are posted below.
In addition to the official NHTSA recalls, The Detroit News is also reporting that Chrysler is recalling more than 16,000 Ram trucks and a small number of Dodge Dart sedans. Around 6,500 2013 Ram 1500 trucks will be recalled due to an improper adjustment of the parking brake cable from the factory, while 7,000 Cummins-powered 2013 Ram Heavy Duty trucks are being recalled due to an engine cover that does not have as much heat resistance as it is supposed to. Finally, a total of 46 Dodge Dart sedans are being recalled due to a problem with the brake calipers and/or parking brake.

2014 Jeep Cherokee starting price set at $22,995*

Love it or hate it, the 2014 Cherokee is on its way to a Jeep showroom near you this fall. Today, Chrysler announced the different trim levels, features and pricing for its new compact utility with a starting price of $22,995 (*not including $995 for destination), which is $400 less than the 2012 Liberty it ostensibly replaces.
Available in four trim levels - Sport, Latitude, Limited and Trailhawk - the new Cherokee will come standard with Chrysler's 2.4-liter Tigershark inline four-cylinder engine with the upper three levels offering the option of the company's 3.2-liter Pentastar V6. The base Sport is your typical entry-level model, featuring equipment including manual cloth seats and black exterior mirrors and door handles, but it also has a five-inch Uconnect media center, LED taillights and 10 standard airbags. Stepping up from the Sport model, Latitude and Limited trims bring increasing levels of luxury starting at $24,495 and $27,995, respectively. All three of these trims are front-wheel drive in standard configuration and offer varying versions of Jeep's Active Drive four-wheel-drive system.
The range-topping $29,495 Cherokee Trailhawk (shown above) comes standard with four-wheel drive and numerous upgrades to earn Jeep's Trail Rated fender badge. These changes include a unique design that adds an off-road suspension with taller ride height giving more aggressive approach and departure angles, underbody skid plates, distinguishing exterior design elements and a seven-inch, reconfigurable instrument gauge cluster similar to what it found in high-trim Dodge Dart models. Scroll down for a full breakdown of the 2014 Cherokee pricing and trim levels, and let us know what you think of the model's pricing and equipment in Comments.