1968 Chrysler 300 - Numbers Matching 440 - One Family Survivor - Classic Mopar on 2040-cars

Auto blog

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

The Chrysler brand could be axed under Stellantis management

MILAN — While running NissanÂ’s North American operations from 2009 to 2011, Carlos Tavares had a reputation for closely watching costs with little tolerance for vehicles or ventures that didnÂ’t make money. Experts say that means Tavares, currently the head of PSA Group, is likely to follow that blueprint when he becomes leader of a merged PSA and Fiat Chrysler Automobiles. The low-performing Chrysler brand might get the axe as could slow-selling cars, SUVs or trucks that lack potential. Already the companies are talking about consolidating vehicle platforms — the underpinnings and powertrains — to save billions in engineering and manufacturing costs. That could mean job losses in Italy, Germany and Michigan as PSA Peugeot technology is integrated into North American and Italian vehicles. “You canÂ’t be cost efficient if you keep the entire scale of both companies,” said Karl Brauer, executive analyst for the iSeeCars.com auto website. “WeÂ’ve seen this show before, and weÂ’re going to see it again where they economize these platforms across continents, across multiple markets.” Shareholders of both companies are to meet Monday to vote on the merger to form the worldÂ’s fourth-largest automaker, to be called Stellantis. The deal received EU regulatory approval just before Christmas. Tavares, who for years has wanted to sell PSA vehicles in the U.S., wonÂ’t take full control of the merged companies until the end of January at the earliest. He likely will target Europe for consolidation first, because thatÂ’s where Fiat vehicles overlap extensively with PSAÂ’s, said IHS Markit Principal Auto Analyst Stephanie Brinley. Europe has been a money-loser for FCA, and factories in Italy are operating way below capacity — a concern for unions, given FiatÂ’s role as the largest private sector employer in the country. “We are at a crossroads,Â’Â’ said Michele De Palma of the FIOM CGIL metalworkersÂ’ union. “Either there is a relaunch, or there is a slow agonizing closure of industry, in particular the auto industry, in Italy.” ItalyÂ’s hopes lie with the luxury Maserati and sporty Alfa Romeo brands, but De Palma said investments are needed to bring hybrid and electric technology up to speed. FiatÂ’s Italian capacity stands at 1.5 million vehicles, but only a few hundred thousand are being produced each year. Most factories were on rolling short-term layoffs due to lack of demand, even before the pandemic.

FCA, Waymo expand plans: 62,000 more self-driving vehicles, potential retail sales

If you live in Phoenix, you may have seen one of Waymo's 600 autonomous Chrysler Pacifica Hybrids ferrying passengers around town. You may have even been one of the riders. You're likely to see a lot more of them, too. Today, FCA announced that it will deliver up to 62,000 additional Chrysler Pacifica Hybrid's to Google's automated driving technology company. The expansion of the partnership between FCA and Waymo goes beyond growing the fleet. The companies have also announced that they're considering making Waymo's tech commercially available to FCA vehicle retail customers through a possible licensing partnership. FCA would build the cars, and Waymo would provide the self-driving system. "FCA is committed to bringing self-driving technology to our customers in a manner that is safe, efficient and realistic," said FCA boss Sergio Marchionne. Waymo CEO John Krafcik added, "Waymo's goal from day one has been to build the world's most experienced driver and give people access to self-driving technology that will make our roads safer. We're excited to deepen our relationship with FCA that will support the launch of our driverless service, and explore future products that support Waymo's mission." That service, expected to launch later this year, will allow the public to use Waymo's app to hail a ride from one of its self-driving minivans. To date, vehicles equipped with Waymo automated driving tech have logged over 6 million cumulative miles in testing. As of late last year, Waymo's self-driving cars needed far less human intervention than the competition. Earlier this year, Waymo also announced a partnership with Jaguar Land Rover to deploy autonomous Jaguar I-Pace EVs. The plans for an expanded partnership come on the same day Japan's SoftBank announced a $2.2 billion investment in GM's Cruise self-driving division. Related Video: News Source: FCA, WaymoImage Credit: Joe White / Reuters Green Chrysler Technology Emerging Technologies Minivan/Van Autonomous Vehicles Electric Hybrid Sergio Marchionne Waymo john krafcik