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Stellantis expects strike to cost it $795 million in third-quarter profits

MILAN — Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. The net revenue boost was due to higher volumes in all markets except Asia. Chief Financial Officer Natalie Knight told journalists that StellantisÂ’ strike impact was lower than the other Big Three automakers due to its global profile as well as some high-profile cost-cutting measures, calculating the hit at around 750 million euros ($795 million.) GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. Ford has put its impact at $1.3 billion. “We continue to be in a very strong position globally and in the U.S. This is an important market for us, and weÂ’re highly profitable and we are very committed to our future," Knight said. “But mitigation is core to how we act, and how we proceed.” Stellantis has canceled appearances at the CES technology show in Las Vegas next year as well as the LA Auto Show, due to the strike impact. Stellantis on Saturday reached a tentative agreement with the United Auto Workers Union to end a six-week strike by more than 14,000 workers at its assembly plants in Michigan and Ohio, and at parts warehouses across the nation. Stellantis does not report full earnings for the third quarter, instead providing shipments and revenues. It said that global sales of electric vehicles rose by 37% over a year earlier, powered by the Jeep Avenger and commercial vehicle sales. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%. Related video: Earnings/Financials UAW/Unions Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM

2014 Jeep Cherokee

The Cherokee Is Dead. Long Live The Cherokee.
There are three sentences that, for this reviewer, define what needs to be conveyed about the 2014 Jeep Cherokee. The first: it is very good.
Jeep spent 27 years building the Cherokee and its brand, from 1974 to 2001. Twelve years ago, the Cherokee nameplate rolled away into the distant hills and retirement, at least here in the NAFTA colonies, and it was replaced by a loaded word we knew as "Liberty."

Making the Compatriot the Jeep we want - and deserve

If you're one of the hottest brands in the world, and you need to replace two vehicles that sell at a rate of nearly 200k a year, what exactly are you going to do? Do you take the safe route and attempt to mirror what has largely kept you a success thus far, or do you improve on the formula, and better sort your lineup? After 10 years with the Jeep Compass and Patriot, it is time for both to hang up their jackets and go in for the long dirt nap. And what a strange 10 years it's been. Born of the age of Diamler-Chrysler, the "Merger of equals," the Compass and Patriot were brought into this world to shore up sales of Jeep worldwide, pull on the heartstrings of former Cherokee owners, and make sure teenage girls had an affordable crossover to buy in just a few years. As much as I like to throw shade at each model on both subjective and objective basis, I truly find the purpose of each vehicle to be relatively endearing. For less than $22,000, you could (that is, if you could find one) walk out of your local Jeep dealer with a 4x4 crossover, with a manual gearbox, decent all-weather performance, and somewhat respectable fuel economy. This of course ignores the fact that they weren't packaged all that well, based on the outrageously terrible Dodge Caliber, and used all those shared bits and bobs with Mitsubishi that should have been shelved by 2010. Yet, the twins lived on, and on, and on. We've heard stories as far back as 2012 that they weren't long for our world, and then we get news that they're making it through 2017. Just in time for the "Compatriot" to arrive. I've spent a lot of time trying to figure out what Jeep intends to do with the Compatriot. As far as most blogs seem to know, we're getting a Compass and Patriot replacement that is based on the already well-received Renegade. A little bit of a stretch on the chassis will certainly aid in ride quality, and the Grand Cherokee styling cues will give it a much more upscale demeanor. Even the interior has looked very well executed, with a positively huge uConnect screen set in the middle of the dash. Could Jeep actually be trying to take their Compass and Patriot replacement significantly more up the product chain? I certainly hope so. If you pilot your browser over to the Jeep configurators, you might be surprised by how low the base prices are on almost all of their products. Less than $30k for a new Cherokee? A Renegade for just under $18k? What a deal!