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FCA's UAW workers to get $8,010 profit-sharing payout

UAW workers at FCA will soon be receiving $8,010 checks, which represent profit-sharing based on the company's 2020 performance. Although FCA's profit margins in 2020 were slimmer than the year prior, the union-employee payouts are slightly larger, due to a change in the formula that was negotiated in 2019 and has now gone into effect. Employees are now paid $900 for every 1% of profit margin FCA achieves in its North American operations. For 2020, the company enjoyed an 8.9% profit margin, and although that was down slightly from 9.1% in 2019, the checks are larger than last year's $7,280 payout. Still, FCA employees didn't fare quite as well as their counterparts at GM, who stand to receive profit-sharing checks of up to $9,000. GM workers did even better last year, netting $10,000. UAW workers at Ford had less to celebrate. They'll receive $3,525, based on the company's 2020 performance. That's a steep drop from last year's $6,600. FCA earned $6.472 billion in North America in 2020. The company is expecting an improved financial performance in 2021, as it's expected to avoid another coronavirus-related shutdown. It's also expected to benefit from the launch of the three-row Grand Cherokee L, as well as the Jeep Wagoneer and Grand Wagoneer, all of which are high-margin products. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Fiat/PSA's dominance in small vans hangs up EU's merger approval

BRUSSELS — EU antitrust regulators are concerned about Fiat Chrysler and Peugeot / PSA's combined high market share in small vans and may require concessions to clear their $50 billion merger, people familiar with the matter said. The companies, which are seeking to create the world's fourth biggest carmaker, were told of the European Commission's concerns last week. If Fiat and PSA fail to dispel the European Commission's doubts in the next two days and subsequently decline to offer concessions by Wednesday, the deadline for doing so, the deal would face a four-month-long investigation. The EU competition enforcer, which has set a June 17 deadline for its preliminary review, declined to comment. Fiat was not immediately available for comment while PSA had no immediate comment. Hiving off overlapping businesses, usually a regulatory demand to ensure more competition, could prove tricky for the carmakers because of the technicalities. Fiat and PSA are looking to merge to help offset slowing demand and shoulder the cost of making cleaner vehicles to meet tougher emissions regulations. The deal puts under one roof the Italian carmaker's brands such as Fiat, Jeep, Dodge, Ram, Maserati and the French company's Peugeot, Opel and DS. Related Video: Government/Legal Chrysler Dodge Fiat Jeep Maserati RAM Citroen Opel Peugeot

Dodge Viper ACR reportedly green lit [w/video]

The Dodge Viper might be getting a little more venomous in the near future thanks to a return of the performance-honed ACR trim. According to an anonymous source leaking the info to Allpar, the version would go into production in July as a 2016 model year vehicle. FCA US showed a concept for a future ACR (pictured above) at the 2014 SEMA Show that sported carbon fiber parts for the front splitter and dive planes, plus a picnic-table-sized rear wing. The body also received ducts at the rear to shoot cool air to the differential. A set of 15.4-inch carbon-ceramic brake rotors also brought things to a halt in a hurry. The company promised all the aero pieces were sculpted in the wind tunnel to give the coupe even more downforce. To shed weight, engineers chucked the radio, speakers, carpet and sound deadening out of the interior, and they replaced many bits with even more carbon fiber. All of the tweaks are necessary because the ACR moniker carries serious cachet for the Viper at the track, especially at the Nurburgring. One reportedly did a 7:22 lap around the 'Ring in 2008, and another improved that further to 7:12 in 2011. Autoblog reached out to FCA US for comment about the possibility for the hotter Viper, but the company wasn't willing to comment about any possible, future projects. Related Video: