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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

Refreshed Chrysler 300 SRT won't be sold in NA

It looks like it might be time to bid farewell to the V8 rumble from the Chrysler 300 SRT - at least if you live in North America. The reported change comes as Fiat Chrysler Automobiles reshuffles its ranks with the Dodge brand, re-absorbing SRT and building its muscular reputation with the Challenger and Charger Hellcat models. Meanwhile, Chrysler is taking a more mainstream approach, and that likely means the end of overt high-performance models from the division for now.
According to Automotive News, the 300 SRT will be discontinued in the US for 2015, but it won't be totally dead. Some right-hand drive markets will still get the brawny V8 sedan next year, a distinction that goes a long way toward explaining some spy shots we've seen recently.
The 300 SRT's North American demise probably shouldn't come as a total shock. In FCA's five-year plan, it says that the 300 is destined for a refresh to be unveiled later this year, presumably at the upcoming Los Angeles Auto Show. There's no mention of the SRT model in the document, though, which seems to signal its end.

America was the unexpected theme at the 2017 Detroit Auto Show thanks to Trump

President-elect Donald Trump was not in attendance at this year's Detroit Auto Show, but it sure seemed like he was the target audience for many of the press conferences and announcements surrounding the event. Several manufacturers chose to play up existing and future commitments to the US in general and American jobs specifically in their presentations to the press, and we're pretty sure that has everything to do with Trump's recent targeting of automakers on Twitter. To us, it seemed automakers were going on the offensive to try and preempt any future tweet-shaming for investing in auto manufacturing anywhere but the US. The pro-America sentiment started the week prior to the auto show, with Ford announcing that it would build several future electrified vehicles at its Flat Rock Assembly Plant in Michigan and also cancel a $1.6 billion factory planned for Mexico. Ford announced the two items on the same day, but the reality is that they likely have no relation to each other; the Mexican plant is being skipped because the company doesn't need the extra capacity to build the Ford Focus right now. Trump was still happy to share the news on Twitter. Then, on Sunday, FCA announced it would invest $1 billion in manufacturing plants in Ohio and Michigan to produce the new Jeep Wagoneer, Grand Wagoneer, and Wrangler-based pickup. It's not as though those potential new jobs were on their way out of the US, necessarily, but FCA took the opportunity to mention that plant upgrades at the Warren Truck Plant would allow the company to build Ram heavy duty trucks, which are currently assembled in Mexico, there. CEO Sergio Marchionne confirmed that Trump and his proposed tariffs had nothing to do with the decision. We certainly believe that, but we also have to believe that the timing of the release, positive outcome for America, and zero gain for Mexico were all orchestrated. Again, Trump sent out a victory tweet as if this had been his doing. Ford then used its press conference at the show on Monday to reiterate the plans for Flat Rock and also confirm that the Ford Bronco and Ranger nameplates will be returning to the US market, and that both will be built at a plant in Michigan. Announcements of manufacturing locations are usually aimed at the UAW, which certainly has a stake in these things, but again this one was broadcast to the auto show crowd in general.