2006 Chrysler Sebring Touring Sedan 4-door 2.7l on 2040-cars

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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.

Mike Manley and Louis Camilleri appointments confirmed after shareholder votes

AMSTERDAM – Fiat Chrysler shareholders held a meeting yesterday to officially vote on the appointments of Mike Manley as CEO of FCA and Louis Camilleri as the CEO of Ferrari. Manley and Camilleri were announced as the replacements for Sergio Marchionne following the former chief's sudden death. At the same time, FCA announced that it would place John Elkann in the role of Chairman. A minute-long moment of silence was held at the start of the meeting in honor of Marchionne. According to reports, 99 percent of shareholder votes were in favor of Manley's appointment at FCA, and 98 percent were in favor of Camilleri taking the CEO role at Ferrari. Manley said at the shareholder's meeting that he will announce his organizational plans for the automaker by the end of September. "When we learned Sergio Marchionne could not return to work the board decided to appoint Mike Manley, who was the only candidate," Chairman John Elkann said. The chairman added the decision was based on succession plans the board was working on with Marchionne for his planned departure in 2019. Of Camilleri's direction at Ferrari, Elkann said, "Sergio Marchionne strengthened the foundations of Ferrari, now we can build on that for the future, which will be a bright future."Reuters contributed to this report.Related Video: Image Credit: Daniel Acker/Bloomberg via Getty Chrysler Fiat Sergio Marchionne FCA Mike Manley

Chrysler Pacifica hybrid minivans recalled due to fire risk

Chrysler Pacifica plug-in-hybrid minivans are being recalled because the connection to the vehicles' 12-volt battery may pose a fire risk. The company says 27,634 minivans are affected, from the 2017 through 2020 model years. The regular gas-engine Pacifica is not part of the recall. The issue is with the minivans' standard 12-volt battery that powers the vehicles' accessories, not the high-voltage battery that is part of the hybrid powertrain. The connection to the battery may degrade, posing the risk of fire. Chrysler says it knows of "a small number" of fires that have occurred and one minor injury. Dealers will inspect the connection to check for corrosion.  In the meantime, Pacifica hybrid owners are advised not to park their vehicle inside a garage, building, or other structure, or near other vehicles. They're also asked not to carry liquids that might spill in the second-row seating area. Starting June 16, Pacifica hybrid owners can enter their VIN number at the following websites to see if their vehicle is among those being recalled: recalls.mopar.com or, in Canada, recalls.mopar.ca. Chrysler also will be contacting owners of affected vehicles by mail. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.