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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

2018 Jeep Wrangler four-cylinder could be incredibly potent

Update: We hear the 368-hp rating in the NHTSA documents isn't accurate. The story has been modified to reflect that. Update 2: The document has been removed from NHTSA's website. We already knew that the next-generation Jeep Wrangler would offer two engines this time around, a V6 and a new turbocharged four-cylinder. Documentation from FCA to NHTSA that JL Wrangler Forums discovered suggests the V6 will become the entry-level engine with the same 285 horsepower as the current one, while the turbo 2.0-liter inline-four takes the top spot with 368 horsepower. However, we're now hearing that figure isn't accurate. That's an all-around impressive four-cylinder – and obviously likely too good to be true. Besides making about 80 more horsepower than its bigger V6 cousin, it would also be the second most powerful four-cylinder available in the United States. It would only be 7 horsepower shy of the current four-pot power champ, the Mercedes-Benz CLA45, which makes 375 horsepower. It's also 18 horsepower ahead of the next closest engine, the turbo four in the Focus RS that makes 350 horsepower. If you do decide to pick up a 2018 Wrangler with the four-cylinder, you'll have to settle for an automatic transmission. Only the V6 will be available with both an automatic and manual transmission. Both engines should be available at launch, which we expect to come shortly after an expected reveal at the Los Angeles auto show. The FCA documentation also suggests that the four-door model will be the first body style available, with the two-door arriving slightly later. Related Video: Featured Gallery Jeep Wrangler Spy Shots View 28 Photos News Source: JL Wrangler Forums / FCAImage Credit: KGP Photography Jeep SUV Off-Road Vehicles jeep wrangler unlimited

Marchionne may stay with FCA until 2020

We might get to see Sergio Marchionne and his vast array of sweaters in the auto industry for even longer than expected. The FCA CEO suggested last year that he would retire from the automaker when its current five-year plan was complete in 2018. Now, he has tentatively extended that point out to at least 2020. "I can do this for another five years if you push me, right? Beyond that, I ain't gonna do it, and I don't want to," he said to Automotive News. That would give Marchionne a 16-year career at the top from joining Fiat in 2004 to possibly leaving FCA in 2020. Although, take the CEO's statement with a grain of salt because he has made multiple statements about the timing for his retirement. In 2012, Marchionne said he would only remain in charge until 2015, which is, well, now. Those five years might also go quite quickly because Marchionne is a busy guy with the Ferrari IPO, the attempted merger with General Motors, implementing FCA's five-year plan, and many other projects. He's already considering the next CEO, though. "My purpose in life is to find the Kuniskises of the world, the Manleys, the Biglands, the Palmers," Marchionne said to Automotive News, referencing the heads at Dodge, Jeep, FCA North America, and the company's chief financial officer, respectively. "I told them, 'One of you is going to do what I do one day. I don't know who that is, but one of you is going to do it.'" News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Chrysler Dodge Fiat Jeep Sergio Marchionne FCA fca us Mike Manley reid bigland tim kuniskis