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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.

Stellantis reports record margins, $7B profits despite chip shortage

MILAN — Automaker Stellantis on Tuesday said it achieved faster-than-expected progress on synergies and record margins in its first six months as a combined company, despite suffering 700,000 units in lower production due to interruptions in the semiconductor supply chain. The company — formed from French carmaker Peugeot PSAÂ’s takeover of the Italian-American company Fiat Chrysler — reported net profit of 5.9 billion euros ($7 billion) in the first half of 2021, compared with a loss 813 million euros during the same period a year earlier, which was impacted by the coronavirus restrictions around the globe. Shipments rose 44% to 3.2 million units, while revenues rose 46% to 75 billion euros. “We are very pleased with the speed with which the new team has begun to execute as one company, as Stellantis,Â’Â’ Chief Financial Officer Richard Palmer told reporters. Semiconductor shortages accounted for 200,000 units of production losses in the first quarter and 500,000 in the second quarter. Semiconductors are used more than ever before in new vehicles with electronic features such as Bluetooth connectivity and driver assist, navigation and hybrid electric systems. Stellantis achieved 1.3 billion euros in cost savings in the first half, mostly by sharing investments in new technologies and platforms, which Palmer said was a faster rate than initially forecast. It aims to achieve 80% of the targeted 5 billion in cost savings by 2024. “These synergies allow us to continue to invest in the electrification strategy, which we talk about every day,” Palmer said. Stellantis, which lags competitors in rolling out electric vehicles, plans to launch 21 fully electric or plug-in gas electric hybrid vehicles over the next two years. North American posted record profitability on global sales of Ram trucks and the strong launch of the Jeep Wrangler 4xe, which was the best-selling plug-in gas electric vehicle in the United States in the second quarter. Stellantis was the market leader in South America and second in Europe. The results were presented on a pro-forma basis, taking into account the performance of each of the carmakers as separate entities during 2020. Related video: 2021 Jeep Wrangler Rubicon 392 Inside and Out

Dodge Challenger ACR rumored finally on its way using Viper ACR as benchmark

In 1995, Dodge released the ACR Neon, an unlikely combination of cheap, compact American sedan and high-performance parts and engineering marked by initials standing for American Club Racer. Dodge sold a heap of them, so the automaker flexed the ACR brand's potential with the first ACR Viper in 1999. The racy coupes made huge noise for Dodge and the Viper. After the fourth-gen Viper ended production in 2010, Dodge took a Challenger ACR concept to SEMA in 2011. But instead of carrying the coupe to production, Dodge resurrected the Viper for 2013 and got one more Viper ACR model out during the last Viper's final years. With the Viper gone again, it appears Dodge is sorting out that Challenger ACR concept for real. Last October, Mopar Insiders reported the automaker was trying to get a Challenger ACR prepared for the model's 50th anniversary this year. The timing looks highly unlikely, but an Allpar source says the track-happy coupe is still coming, and with bonkers expectations and gear. We're talking about a big-boi widebody Challenger tuned to do hard laps, fast, around twisty circuits, all day long. An Allpar insider known as "Muther," a code name to tug at John le Carre's heart, said Dodge is considering two engines. Because the point of the car is to be raced and some series don't accept forced induction, one trim would fit the naturally aspirated 392 Hemi from the R/T Scat Pack. There's no telling if that motor would get a power bump, but the Challenger ACR concept upped its output slightly with measures like a cat-back exhaust. The other trim, naturally, would fit the 6.2-liter Hellcat Redeye V8.     Muther told Allpar that if engineers can get the car under 4,000 pounds, the math points to being within two seconds of the time set by the Viper ACR-E at Road America. That "E" represents the Extreme Aero Package, with addenda like a deeper front splitter, dive planes, and an adjustable, dual-element rear wing that helped the Viper ring up 14 lap records on U.S. tracks. The fastest time we know of for a Viper at Road America is from 2011, factory race driver Kuno Wittmer doing 2:20 even in a Gen IV Viper ACR. Wittmer's ride weighed 3,408-pounds. Dodge boffins want to get the Challenger ACR under 4,000 pounds. Achieving the weight goal would mean cutting at least 387 pounds from a standard R/T Scat Pack Widebody, and 512 pounds from the Hellcat Redeye Widebody if that trim has the same target.