2005 Chrysler Sebring on 2040-cars

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UAW may be key to forced FCA merger with GM

Sergio Marchionne doesn't give up on a business deal easily. While outwardly not much has recently been said about FCA's attempted merger with General Motors, Marchionne might be hoping to garner a powerful, new ally that could help break things wide open. The United Auto Workers retiree health care trust is the single largest shareholder of GM with 8.7 percent of the stock, and having its support would certainly improve FCA's position in getting a deal done. "Whatever happens in terms of consolidation, it would never be done without the consent and support of the UAW," Marchionne said when FCA recently began contract talks with the UAW, The Detroit News reports. The boss is also allegedly on good terms with the union president Dennis Williams. Still, using the organization for a hostile takeover could be very difficult because of the way its votes are structured. Other activist investors might already be on board, though. Marchionne believes that consolidation in the industry is vital because automakers are investing to create the same technologies. A GM/FCA merger still has many roadblocks, though, including the fact that Marchionne's company is smaller than GM. From a regulatory perspective, the size of the merged company could raise serious anti-trust concerns among regulators, according to The Detroit News. There's also the concern for lost jobs from redundant work with the two combined businesses. Even if the UAW angle doesn't work out, there are contingency plans afoot for other merger targets. According to The Detroit News speaking to anonymous insiders, FCA bigwigs have a meeting in London on Thursday to take a close look at other options. In addition to GM, they are investigating possible deals with Volkswagen and the Renault-Nissan Alliance. In the past, PSA Peugeot Citroen and multiple Asian automakers have also been brought up as partners, and UBS has reportedly been providing financial advice on what to do.

Chrysler reports $464M net income for Q3

Chrysler has just announced earnings of $464 million in net income for this third quarter, a 22-percent year-over-year increase. Net income for the first three quarters of 2013 is at $1.1 billion. Net revenue climbed significantly as well, to $17.6 billion, a 13.5-percent increase on Q3 of 2012.
Those increases were thanks in no small part to an eight-percent rise in sales from the same period last year, with 603,000 vehicles sold worldwide. "Chrysler Group's ninth consecutive quarter of positive net income highlights our commitment to producing award-winning vehicles for consumers, such as the Jeep Grand Cherokee and the Ram 1500," said Sergio Marchionne, Chairman and CEO of Chrysler Group.
Despite the increased sales, Chrysler's US market share dropped slightly, from 11.3 percent in Q3 2012 to 11.2. Canadian market share remained level at 14.3 percent. Have a look below for the entire press release from Chrysler.

Chrysler unveils Dodge Charger SRT8 392, 300 SRT Concept to the faithful

Our man Steven J. Ewing recently spent some time in a 2013 Dodge Charger SRT8 Super Bee, and while he found a lot to love - particularly underhood - he didn't care for the sedan's retro-steeped visuals, preferring the standard SRT's look instead. Perhaps he'll dig this throwback look instead. Over the weekend, Chrysler unveiled this handsome 2013 Dodge Charger SRT8 392 Appearance Package at the eighth annual Spring Festival of LXs, a gathering of Charger, Challenger and Chrysler 300 enthusiasts held in Irvine, California.
Unveiled by SRT CEO Ralph Gilles in front of an estimated 2,500 Spring Fest goers, the 392 features 20-inch Black Vapor Chrome alloys set off by a black-painted roof panel, hood bulge, spoiler and mirror caps. Additional exterior changes include model-specific striping and badging along with the requisite serialized dash plaque inside. The 392 will be available in five colors - Billet Silver Metallic, Bright White, Hemi Orange, Plum Crazy and the TorRed pain seen here.
Performance-wise, the 392 remains unchanged from standard SRT8s, but that's hardly a slight - the 6.4 liter Hemi V8 continues to churn out 470 horsepower and 470 pound-feet of torque to the rear wheels. Like other 2013 SRT8s, the 392 benefits from the institution of a new launch control system and a retuned three-mode adaptive suspension.