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Fiat Chrysler posts record Q3 profit thanks to U.S. trucks and Jeep

MILAN — A rebound in car production in Fiat Chrysler on Wednesday reported record third-quarter earnings as production returned to nearly pre-pandemic levels. The Italian-American automaker, which is finalizing its full merger with French rival PSA Peugeot, reported a net profit in the three months ending Sept. 30 of $1.4 billion (1.2 billion euros). That compares with a loss of 179 million euros a year earlier. The carmaker reported adjusted earnings before tax and interest in North America of 2.5 billion euros. That offset deepening losses in Europe, Asia and at its Maserati luxury marquee. Latin America, the only other region to post a profit, saw it narrow by two-thirds to 46 million euros. “Our record results were driven by our teamÂ’s tremendous performance in North America,” CEO Mike Manley said in a statement. Overall, the carmaker said global earnings before tax and interest were a record 2.3 billion euros despite a 6% fall in revenues to 26 billion euros. Global shipments were down 3%, due largely to plant retooling in North American to produce the new Jeep Grand Wagoneer in the luxury SUV segment and the discontinuation of the Dodge Grand Caravan classic minivan. Fiat Chrysler announced earlier Wednesday that its merger with PSA Peugeot is on track to be finalized by the end of the first quarter of 2021, as planned. To meet regulatory concerns, the French carmaker is selling a small stake in a components maker to get below 40% ownership. The new automaker, to be called Stellantis, will be the fourth biggest producer in the world. Earnings/Financials Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

SRT back to Dodge, Dart SRT, new Challenger, Charger and Caravan's death outlined in 5-yr plan

The onslaught of news from Fiat Chrysler's layout of five-year plans continued with Dodge CEO Tim Kuniskis this morning, including the unexpected announcement that SRT was coming back into the fold.
After just a few years existing as an independent entity within the Fiat Chrysler universe, an unceremonious press release hit in conjunction with today's lineup of announcements, saying "the SRT family of vehicles will be consolidated under the Dodge brand." Group CEO Sergio Marchionne thanked SRT headman Ralph Gilles for his dedication to the high-performance wing, calling out is efforts in expanding the vehicle lineup and including more customized models. He did not reference disappointing SRT Viper sales today, but we sense there's a bit of subtext.
With the SRT reunion at Dodge, it's appropriate that some of the most exciting product announcements for the next five years have to do with upcoming performance products. First out of the gate will be a refresh for that flagging Viper in 2015, which comes as little surprise.

FCA adds 88k Dodge Challengers to Takata inflator recall

The Takata airbag inflator recall from FCA US is growing 88,346 vehicles larger in the US after the company's discovery of the faulty parts in the 2008-2010 Dodge Challenger. The affected examples have production dates between September 19, 2007, and October 29, 2010, and the coupes need the replacement components on the driver's side. According to chronology posted by the National Highway Traffic Safety Administration (as a PDF), the automaker was auditing the models covered under the campaign in July and "identified a population of vehicles that was inadvertently excluded." Initially, FCA believed these cars were using an unrecalled Takata inflator. The audit revealed that the affected cars indeed used a recalled version. As with the rest of the faulty parts, exposure to moisture can cause them to ignite too quickly during an airbag deployment and spray shrapnel at occupants. The problem has been linked to at least eight deaths worldwide and a vehicle fire in Japan. The Challenger wasn't previously part of FCA's 3.3-million unit national campaign or the subsequent expansion. According to FCA US the parts to complete the repairs in these Challengers aren't currently available. However, owners will be notified of the issue by mail starting August 14. They will receive a second notice when the parts become available. Related Video: RECALL Subject : Driver Side Frontal Air Bag Inflator May Rupture Report Receipt Date: JUL 10, 2015 NHTSA Campaign Number: 15V444000 Component(s): AIR BAGS Potential Number of Units Affected: 88,346 All Products Associated with this Recall Vehicle Make Model Model Year(s) DODGE CHALLENGER 2008-2010 Details Manufacturer: Chrysler (FCA US LLC) SUMMARY: Chrysler (FCA US LLC) is recalling certain model year 2008-2010 Dodge Challenger vehicles manufactured September 19, 2007, to October 29, 2010. The affected vehicles are equipped with a dual-stage driver frontal air bag that may be susceptible to moisture intrusion which, over time, could cause the inflator to rupture. CONSEQUENCE: In the event of a crash necessitating deployment of the driver's frontal air bag, the inflator could rupture with metal fragments striking the driver or other occupants resulting in serious injury or death. REMEDY: Chrysler will notify owners, and dealers will replace the driver's frontal air bag inflator, free of charge. Parts to remedy the vehicles are not currently available. Interim notices will be mailed to owners beginning August 14, 2015.