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Jeep sets all-time sales record in 2012

Last year was good to Jeep. Chrysler has announced its trail-rated brand set an all-time global sales record in 2012 by moving 701,626 units. That number easily surpasses the previous record set in 1999 when Jeep sold 675,494 models. All told, the brand saw a 19-percent sales increase worldwide over 2011, and much of that swell can be traced directly to the Wrangler. While the Grand Cherokee led Jeep sales, the Wrangler posted record numbers both globally and within the US, moving 194,142 and 141,669 units in each market, respectively.
Meanwhile, the Compass beat its previous global sales record with 103,321 units rolling off of dealer lots. In the US, Jeep sold 62,010 Patriot units, breaking that model's previous record as well. Jeep's impressive performance in 2012 marks the second year in a row the brand has seen double-digit percentage sales increases. Check out the full press release below.

Ferrari borrows $2.6 billion to finance FCA spinoff

Ferrari announced Monday that it is borrowing about $2.6 billion to finance its spinoff from Fiat Chrysler Automobiles. Here's how it breaks down: Ferrari NV, the automaker's parent company based in the Netherlands, is taking out loans totaling 2.5 billion euros. That's equivalent to $2.64 billion at current exchange rates, and is divided between a term loan of $2.12 billion and a revolving credit facility of $529 million. The larger term loan "will be used to refinance indebtedness owing to Fiat Chrysler Automobiles," among other purposes. That ought to constitute the lion's share of the $2.38 billion which the Prancing Horse marque was, according to reports last year, slated to pay its current parent company in order to help FCA fund its ambitious growth plans. The separate line of credit is earmarked "to be used from time to time for general corporate and working capital purposes of the Ferrari group." Though Ferrari is not expected to take any other Fiat Chrysler properties with it, the "group" in this case would include its various financial services and distribution arms around the world that may have been separately incorporated. As noted in the statement below, the financial arrangement "represents a further step towards the separation of Ferrari from the FCA Group," following the separate stock issues from both companies as independent from each other. FERRARI N.V. SIGNS ˆ2.5 BILLION SYNDICATED CREDIT FACILITY Ferrari N.V. (NYSE: RACE) ("Ferrari") announced today that it has entered into a ˆ2.5 billion syndicated loan facility with a group of ten bookrunner banks. The facility comprises a bridge loan (the "Bridge Loan") and a term loan (the "Term Loan") of ˆ2 billion in aggregate and a revolving credit facility of ˆ500 million (the "RCF"). Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler AutomobilesN.V. (NYSE: FCAU) ("FCA") and other indebtedness and for other general corporate purposes. Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity with an option for Ferrari to extend once for a six-month period. Ferrari intends to refinance the Bridge Loan prior to its maturity with longer term debt, including through capital markets or other financing transactions. The Term Loan, which comprises a majority of the total facility, and the RCF each have a maturity of five years.

FCA's large, LX-based RWD cars will stick around until 2020

Fiat Chrysler Automobiles plans to stick with the Dodge Challenger, Dodge Charger, and Chrysler 300 until at least 2020, reports Automotive News. The information comes from two unnamed sources and was loosely confirmed by details in the automaker's new labor contract with Unifor, Canada's auto union. The plan, according to two anonymous sources, is to lightly refresh the Challenger, Charger, and 300 until the vehicles make the switch to FCA's new Giorgio platform. The refresh, as Automotive News points out, will happen in 2018. The Giorgio platform currently underpins the Alfa Romeo Giulia and is expected to find its way to two of the three large American vehicles for the 2021 model year. At that time, FCA will discontinue either the Charger or the 300, claim AN's unnamed sources. If one of the vehicles were to go, it would most likely be the 300. The 300's LX platform would be approximately 15 years old in 2020 and the vehicle doesn't draw in as many sales as the Challenger or the Charger. The Charger made the switch from the LX platform in 2010 with the current model utilizing the mildly updated LD platform, while the Challenger recently moved from the LC platform to the LA platform last year. All of those rear-wheel-drive platforms are closely related. Automotive News points out that FCA CEO Sergio Marchionne stated that the new platform could be utilized across various applications in a conference call with analysts last month. The plan, according to the report, is to stretch and widen the Giorgio platform for the next-gen Challenger and Charger. The new platform is also rigid enough to allow the automaker to add a convertible to its lineup, which could lend further credence to rumors of an upcoming Barracuda. Hopefully, the move to the new Giorgio platform doesn't delay the all-wheel-drive Challenger GT AWD or the wide-body, Hellcat-powered Challenger ADR. We'll just have to wait and see. Related Video: News Source: Automotive News - sub. req. Chrysler Dodge Coupe Performance Sedan FCA fiat chrysler automobiles