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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.

This is the face of the 2018 Jeep Wrangler JL

These images come from a purported Jeep dealer meeting and show a poster detailing the brand's future lineup. Along with a look at the range-topping Grand Wagoneer, we can see the next-generation Wrangler, code-named JL, and its updated design front and rear. To the surprise of no one, the Wrangler will keep its seven-slot grille and round headlights. To those it adds some modern updates, like the LED light bars on the leading edge of the front fenders. (Given the 2017 LED headlight upgrade, we can bet the low- and high-beams also will use LED tech.) The taillights get an X design like those on the Renegade crossover. The overall shape seems to be a bit more tapered and smoothed, which is most evident in the shape of the sides of the windshield. We know from spy photos that the windshield has been laid back more, likely leading to improved aerodynamics and reduced fuel consumption. As a refresher, we expect the 2018 Wrangler to again come in two-door and Unlimited four-door models. It will have at least one gas engine, including a new turbocharged Hurricane four-cylinder, as well as a diesel option. Most if not all of the engines will be paired with a nine-speed automatic transmission, and a manual is likely to be retained on at least some models. A pickup version has also been confirmed. The new Wrangler is likely to be shown in early 2017, possibly at the Detroit auto show in January. Featured Gallery 2018 Jeep Wrangler JL Dealer Leak Spy Shots Image Credit: KGP Photography Design/Style Spy Photos Jeep SUV jeep wrangler jl

Fiat Chrysler taps Amazon, Shell execs to fill roles

MILAN — Fiat Chrysler Automobiles is tapping executives from Amazon and Shell Oil Company with previous automotive industry experience to fill its ranks. CEO Mike Manley said in a letter to employees Thursday that Mark Stewart would join FCA as chief operating officer of North America from Amazon, "a company known for its culture of innovation, and obsession with delivering incredible value to customers." At Amazon, Stewart led teams focused on advanced robotics, artificial intelligence and automation methods. He previously was COO of ZF TRW automotive components supplier. Niel Golightly was named head of global communications. He was most recently Shell's vice president for external relations in North and South America, with a focus on reputation, brand and stakeholder engagement beyond communication strategies. He previously held roles at Ford Motor Company. Related Video: Image Credit: REUTERS/Rebecca Cook Hirings/Firings/Layoffs Alfa Romeo Chrysler Dodge Fiat Jeep RAM FCA Amazon shell Mike Manley