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Chrysler nets $1.6B income in Q4, Fiat profit up 5%

Chrysler announced its 2013 financial results today and unveiled its new name and decidedly bank-like logo. Amid the announcement, Chrysler posted big gains in income, while Fiat didn't perform to analysts' expectations.
For 2013, Chrysler had revenue of $72.1 billion, up 10 percent from 2012. Net income reached $2.8 billion, a 65-percent increase. It was the company's third straight year of annual profits.
In terms of unit sales, Chrysler sold 2.4 million cars worldwide in 2013, up 9 percent. According to Automotive News, 1.8 million of those vehicles were sold in the US, a 14-percent increase. The sales growth boosted Chrysler's US market share to 11.4 percent, up 0.2 percent.

2020 Fiat 500X Sport Design Driveway Test

The Fiat 500X received a big update for 2019 with a new 1.3-liter turbocharged engine. As such, it's no surprise the 2020 Fiat 500X only sees minor updates, but one of them is rather striking, the introduction of the Sport trim level. However, it's only an appearance change, so it doesn't drive any better than the base model. The changes are impressively effective at evoking sportiness, though. All of the fender flares and side skirts are changed to body color, giving the car a lower, wider look. This is aided by the revised front and rear bumpers. At the front, the bumper gets larger grilles, and at the rear is a faux diffuser and vent design instead of a faux skid plate finish. Adding a bit of contrast are satin grey metallic accents on the front bumper, door handles and mirrors. The same color is applied to the large 19-inch alloy wheels. The look is smart and sporty all around, and really helps distinguish the 500X in a sea of tiny crossovers cosplaying as more rugged SUVs. Our particular example also came with the optional contrasting black roof. It's $445 and seems worth it, particularly with one of the bright gloss colors such as our Rovente Red — Italia Blue or Bianco Gelato are also acceptable alternatives. It highlights those bright colors effectively and adds some visual interest to the package. Fiat also added some interior touches to complement the sporty character. The Alcantara-trimmed steering wheel and Alcantara wrappings on the instrument cluster are both immediately noticeable. And, with how common Alcantara has become in high-end sports cars, these are effective at conveying a sporty feeling, as do the paddle shifters that the package also adds. The dashboard's satin gray paint is another highlight that matches the exterior accents. While body color panels would be brighter and more cheerful, this satin paint feels more premium than gloss paint when running your hands across it. The embroidered 500 logo in the seats is another premium-feeling accent. These are appreciated in a cabin where there are less prominent plastics that feel especially low rent. Now, the Sport trim is easily our favorite looking version of the 500X, but there's an added cost for the improved looks. It's $2,305 above the base trim, not including the two-tone paint, and it really only nets you the appearance items and the shift paddles.

FCA workers get raises, health care co-op in new UAW deal

The pending labor agreement between FCA US and the United Auto Workers is now in the hands of union members to confirm. It's expected to be accepted, but a final decision could take weeks, The Detroit News reports. Employees didn't get everything they were hoping for, and contrary to earlier reports, the two-tier wage system remains in place. However, there are attempts to lessen the difference between the levels in this four-year deal. Assuming FCA US workers agree to this offer, the starting pay for tier-two workers would go up around a dollar to $17 an hour. The other level would now begin at $25.35, about a $6 increase, and they would receive 3 percent raises in the first and third year of the deal. Both groups also get $800 in profit sharing for each percent the automaker's profit margin rises above two percent. Extra money kicks in for the second tier above eight percent. Union members get a $3,000 bonus for accepting this contract, as well. The other major change under the pending agreement is the previously rumored switch to a healthcare co-op. The goal is to collect members from the Big Three together to create a huge member base for leverage to negotiate better rates with insurance companies. The UAW is promising no increase in cost to workers, according to The Detroit News. The idea was inspired by the similar structure for the Voluntary Employee Beneficiary Association for union retirees. UAW boss Dennis Williams expects the agreement to be approved. "Once the membership looks at it, hears the explanation for it, I think they'll ratify it," he said, according to The Detroit News. The next step is to craft similar deals with General Motors and Ford. Related Video: