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Chrysler reports $166M net income for Q1, down $307M vs. 2012

Preliminary first-quarter results from 2013 have been announced by Chrysler, and the company is reporting a net income of $166 million on revenue of $15.4 billion. Compared to this period last year, net income is down $307 million and revenue has dropped $1 billion.
Chrysler says that its quarter was negatively affected by the costs associated with launching its 2013 Ram Heavy Duty, 2014 Jeep Grand Cherokee and preparation for the return of the all-new 2014 Jeep Cherokee pictured above. The launches should provide a strong second half of 2013, says the automaker. "We remain on track to achieve our business targets, even as the first-quarter results were affected by an aggressive product launch schedule," said Chrysler Group LLC Chairman and CEO Sergio Marchionne.
On a positive note, the automaker says worldwide vehicle sales are up 8 percent from one year ago, a number pushed by a 12 percent bump in U.S. retail sales. In addition, domestic market share has risen slightly, up to 11.4 percent from 11.2 percent last year. Read more in the official statement below.

Marchionne recruiting activist investors to prompt GM merger

Sergio Marchionne may have been rebuffed in his previous advances at General Motors, but he's not about to give up that easily. According to The Wall Street Journal, the Fiat Chrysler chief is now turning to activist investors to help coax GM into joining forces. Marchionne has been a staunch and ceaseless advocate of the need for consolidation, arguing that the industry needs to amalgamate into larger groups that will share resources and reduce overhead. Under his leadership, the Fiat group consolidated its own operations, and officially merged with Chrysler last year. But he's also been pursuing additional mergers with the likes of Volkswagen, Peugeot, Ford, and Opel (to name just a few). Now he's pursuing a merger with GM, which has not shown much enthusiasm towards the idea. For one thing, GM is a much larger company, and probably doesn't need FCA as much as FCA needs it. For another, it has a troubled past with Marchionne, who in 2005 dissolved an agreed merger (of sorts) with GM, yet still managed to get the General to pay Fiat some $2 billion in the process. However, Marchionne is evidently hoping that the intervention of activist investors could compel GM CEO Mary Barra and company to proceed with a merger anyway. For precedent, he's looking at the recent negotiation between GM and some of its stakeholders that prompted the company to buy back $5 billion of its own shares, demonstrating Barra's willingness to deal with investors. The more compelling precedent, however, may have been set in 2006, when activist investor Kirk Kerkorian locked arms with Carlos Ghosn to get GM to consider joining the alliance between Renault and Nissan. GM ultimately declined, and Ghosn turned instead of Daimler (which of course has its own history of having merged with Chrysler). Only time will tell if this initiative will prove more successful, but one thing's for sure, and that's that Marchionne isn't about to relent in his pursuit of a major merger partner.

FCA names Mike Manley head of Ram brand

Sergio Marchionne seems to revel in shifting the numerous portfolios of the senior executives who work under him. Case in point: the latest round of hat-swapping announced by Fiat Chrysler Automobiles. Several appointments have been made at the top levels of the group, chief among them a new head of the Ram truck brand. That role will now fall to Mike Manley, who will also retain his responsibilities for the Jeep brand and as COO for the Asia-Pacific region. With his hands busy enough as it is, we'd imagine that much of the day-to-day will fall to Robert Hegbloom. He had Manley's new job until now – but will still remain head of the Ram brand for North America, where the bulk of its business is conducted. Along with the shift in leadership for the Ram brand, FCA also named Reid Bigland as head of fleet operations for North America. Bigland is also responsible for sales in the same region, and for the Alfa Romeo brand here as well. The company also named Tim Kuniskis to the Group Executive Council, charged with overseeing all the passenger-car brands in North America – including Dodge, Chrysler, and Fiat. While it was at it, FCA also named Al Gardner as head of network development for North America, and Jason Stoicevich as Bigland's deputy for US fleet and small-business sales. All these appointments take effect immediately. FCA US ANNOUNCES LEADERSHIP CHANGES October 5, 2015 , Auburn Hills, Mich. - FCA US today announced several leadership team moves in support of changes at the Fiat Chrysler Automobiles N.V. (FCA) Group Executive Council (GEC) level. The moves were made to ensure proper representation of all of FCA's major brands on the GEC, the highest management level decision making body within the FCA organization. Earlier today, the following moves were announced at the GEC level. - Mike Manley is appointed Head of Ram Brand. Manley will retain his current GEC responsibilities as APAC Chief Operating Officer and Head of Jeep Brand. - Reid Bigland is appointed Head of NAFTA Fleet. Bigland will continue his current GEC responsibility for NAFTA Sales & Alfa Romeo. - Timothy Kuniskis becomes a member of the GEC and assumes responsibility for NAFTA Passenger Car Brands, consisting of Dodge and SRT, Chrysler and FIAT. In addition, the following appointments were made to the North American leadership team. - Robert Hegbloom continues as Head of Ram Brand for North America, now reporting to Manley.