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FCA profits surge in second quarter

Fiat Chrysler Automobiles gave the cash register a beating in the second quarter, improving its net profit to 333 million euros ($364M US), which is a 263-percent jump over its reported Q1 profit of 92 million euros ($108M US). At the same time, FCA improved its global profit margin to 7.7 percent. Compared year-over-year, in Q2 2014 FCA reported net profit of 197 million euros making this year's Q2 a 69-percent increase, and profit margins a year ago were 4.9 percent. The two big factors for this increase are strong NAFTA sales and Jeep. In the US alone, Jeep sold 222,940 units in Q2 this year, a jump of almost 20 percent over the same period last year. Revenue in the NAFTA region totaled $18.8 billion, adjusted earnings before interest and taxes were $1.45 billion, both of those numbers more than doubling compared to 2014. The vastly better numbers come on marginally more global sales, 1,181,000 units sold in Q2 2014, 1,193,000 units sold in the same span this year. In the US, FCA began charging dealers one-percent more for vehicles to up the margins, a move that helped boost its US margin from 4.1 percent a year ago to 5.8 percent the first half of this year. The company is holding steady on its guidance of global deliveries at 4.8 million and its net profit guidance at $1.1 to $1.3 billion. It has increased its adjusted outlook for the year to $120.5 billion in revenue, and EBIT to "over $4.93 billion." News Source: Automotive News - sub. req.Image Credit: AP Photo/Carlos Osorio Earnings/Financials Chrysler Fiat Jeep FCA

Renault wants to merge with Nissan, then go after Fiat Chrysler

The late Sergio Marchionne used to say consolidation would be the only way to compete against the biggest global carmakers. The company looks certain to fulfill that goal, but perhaps not in the way he intended. The Financial Times reports that Renault wants to begin merger talks with Nissan in the next 12 months. Assuming a merger gets completed, the plan is for the combined company to then pursue another merger, with Fiat Chrysler a prime target. Renault, Nissan, and Mitsubishi have been busy since cutting ties with ex-alliance boss Carlos Ghosn. They formed a new alliance board with Renault chairman Jean-Dominique Senard at the helm, Renault has shrunk the size of its board while Nissan added more outside directors, and the two agreed to a new governance structure to ease operational decision making. All three automakers have walked away from Ghosn-era goals to sell 14 million cars and find 10 billion euros in savings by 2022. New strategic plans for all three car companies are in the works. With stability in sight, it's said Senard wants to succeed where Ghosn failed — a full-fledged merger between Renault and Nissan with talks to begin "as soon as possible." Ghosn's pursuit of a merger last year in attempt to make the 20-year-old alliance "irreversible" is part of what led to his downfall, with Nissan executives including CEO Hiroto Saikawa against the push. The new effort is presented as larger scale being the only way for the alliance to take on companies like Volkswagen and Toyota. But the Nissan-Renault-Mitsubishi trio sold 10.76 million cars around the world last year, second to Volkswagen with 10.83 million sales, ahead of Toyota with 10.39 million. If Nissan hadn't suffered a 2.8 percent dip in sales, the alliance would have taken the top spot. If a little scale is good that means more is better, right? Pulling Fiat Chrysler into the alliance would add around 5 million annual sales, and would be another move in Ghosn's footsteps. The former honcho is said to have "held talks with FCA" about some kind of union within the past three years. The French government, which has a 15 percent stake in Renault and double voting rights, shut down the initiative. It's not clear if FCA will be an independent company by the time a potential Nissan-Renault merger closed, though.

Junkyard Gem: 2001 Chrysler Voyager

When a car brand gets the axe from its owners, it's not as easy as flipping a switch. Sometimes models of that brand still sell enough to be worth carrying on under the original name. That was the difficulty presented by the deletion of the Plymouth marque by Chrysler after the 2001 model year; sales of the Plymouth Neon could continue here (for a few more years) with Dodge badges, as had been the case all along, but what about the still-popular Plymouth Voyager minivan? As the most proletarian of the Town & Country/Caravan/Voyager minivan triumvirate, the Voyager name had been on Plymouth minivans since 1984 and on full-sized Plymouth siblings of the Dodge Tradesman/Sportsman since 1974. So, when an updated Chrysler minivan arrived for the 2001 model year, the Voyager name lived on — briefly — as the lowest trim level of Chrysler-badged minivans. Here's one of those rare machines, found in a Denver boneyard recently. For the 2001 through 2003 model years, the Dodge Caravan lived in the middle of the Chrysler Corporation minivan prestige pyramid, flanked by the Chrysler Voyager below and the Chrysler Town & Country above.  In the European market, of course, Chrysler Voyagers (and Chrysler Neons) were sold for decades. Trivia fans might also recall the Lancia Voyager and Chrysler Grand Caravan, both available for a while in the European market. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In fact, the idea of a Lancia Voyager seems sufficiently amusing that we should watch a Dutch-language advertisement for it right now. This is the pushrod 3.3-liter V6 engine, originally developed as a more powerful alternative to the Mitsubishi V6s that went into so many Chrysler vehicles during the 1980s and 1990s. This one was rated at a respectable 180 horsepower. You could get a manual transmission in US-market Voyagers and Caravans through the 1995 model year, but the days of three-pedal Chrysler minivans were long gone for American car shoppers by the dawn of our current century. So, it's a gem from a historical standpoint but not exactly the sort of vehicle that inspires the howls of outrage from enthusiasts over, say, a discarded Lotus Esprit or Jensen Interceptor. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.