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FCA profits surge in second quarter

Fiat Chrysler Automobiles gave the cash register a beating in the second quarter, improving its net profit to 333 million euros ($364M US), which is a 263-percent jump over its reported Q1 profit of 92 million euros ($108M US). At the same time, FCA improved its global profit margin to 7.7 percent. Compared year-over-year, in Q2 2014 FCA reported net profit of 197 million euros making this year's Q2 a 69-percent increase, and profit margins a year ago were 4.9 percent. The two big factors for this increase are strong NAFTA sales and Jeep. In the US alone, Jeep sold 222,940 units in Q2 this year, a jump of almost 20 percent over the same period last year. Revenue in the NAFTA region totaled $18.8 billion, adjusted earnings before interest and taxes were $1.45 billion, both of those numbers more than doubling compared to 2014. The vastly better numbers come on marginally more global sales, 1,181,000 units sold in Q2 2014, 1,193,000 units sold in the same span this year. In the US, FCA began charging dealers one-percent more for vehicles to up the margins, a move that helped boost its US margin from 4.1 percent a year ago to 5.8 percent the first half of this year. The company is holding steady on its guidance of global deliveries at 4.8 million and its net profit guidance at $1.1 to $1.3 billion. It has increased its adjusted outlook for the year to $120.5 billion in revenue, and EBIT to "over $4.93 billion." News Source: Automotive News - sub. req.Image Credit: AP Photo/Carlos Osorio Earnings/Financials Chrysler Fiat Jeep FCA

Stellantis to halt production at Melfi, Italy, car plant in April, union says

MILAN — Carmaker Stellantis will halt production at its plant in Melfi, southern Italy, April 2-12 because of low demand triggered by the COVID-19 crisis, the UILM union said on Monday. Production at the plant, where the world's fourth largest automaker makes Jeep Renegade and Compass models and the Fiat 500X compact SUV, has been repeatedly disrupted due to weak demand and semiconductor supply shortages. The FIM CISL union said last week the firm was considering permanently closing one of its two production lines at the Melfi plant to address excess capacity in Italy. European car registrations fell 23% year on year in the first two months of this year, according to industry data, as protracted coronavirus lockdowns and consequent uncertainty keep impacting spending decisions among families and businesses. UILM's Gianluca Ficco said on Monday the company told unions the latest Melfi production freeze was specifically due to low demand and not a result of the global chip shortage. A spokesman for Stellantis confirmed the plant would be closed in that April 2-12 period. All of Melfi's more than 7,000 workers would be put on a furlough scheme for the period.  

Jeep Moab Concepts, Rumors, And More | Autoblog Podcast #470

Episode #470 of the Autoblog Podcast is here. This week, Dan Roth, Chris Bruce, and Brandon Turkus talk about this year's concepts for the Easter Jeep Safari in Moab, rumors of a mid-engined Subaru sports car and the looming reveal of the next Impreza. We also cover more rumors of a simpler Acura NSX, and some other tidbits, including Ford's movie projector patent and the Opel Astra winning the European Car of the Year award. As always, we start with the Autoblog Garage and wrap up by answering your questions. Check out the rundown with times for topics, and thanks for listening! Autoblog Podcast #470 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics 2016 Easter Jeep Safari concepts Mid-Engine Subaru rumors Non-hybrid Acura NSX 2017 Subaru Impreza to be revealed at NYIAS Ford patents in-car movie projector Opel Astra is 2016 European Car of the Year In The Autoblog Garage 2016 Mercedes-Benz C450 AMG 2016 BMW X1 xDrive28i Hosts: Dan Roth, Chris Bruce, Brandon Turkus Rundown Intro and Garage – 00:00 Jeep Concepts - 21:57 Mid-Engine Subaru - 38:45 Acura NSX - 43:18 Subaru Impreza - 44:59 Ford Projector - 47:48 Astra ECOTY - 49:50 Q&A - 52:09 Total Duration: 58:11 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts Acura Ford Jeep Subaru Opel easter jeep safari acura nsx type r