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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

Jeep Renegade and Fiat 500X finally on the way to dealers

After a brief pause, the Jeep Renegade and Fiat 500X are on their way to dealers again. While initially reported as a software bug, the issue had nothing to do with the models themselves. According to a statement from FCA US to Autoblog, the "vehicles were built with an atypical Vehicle Identification Number that may not be recognized as valid by some computer systems." That problem has now been fixed. FCA US held the compact crossovers back from dealers until the company could rectify the bug. If the CUVs had been delivered, there would have been difficulty registering the vehicles, according to Automotive News. Before discovering the situation, about 20 of these Renegades were sold to customers. FCA CEO Sergio Marchionne originally discussed the predicament in late May. "I'm having a very bad engineering day," he said. "It's a combination of attributes of that vehicle that is making my life horrible." While the boss predicted the problem would be fixed as late as mid-June, the company apparently got things working much quicker than that. Related Video: FCA US Statement A limited number of 2015 Jeep Renegade and 2016 Fiat 500X vehicles were built with an atypical Vehicle Identification Number (VIN) that may not be recognized as valid by some computer systems. This VIN issue has been resolved. FCA US has been working with governmental agencies, insurers and financial institutions with whom customers may interact to ensure successful registration, financing and insurance coverage. Renegade and 500X vehicles are being shipped and are in stock at dealerships for purchase. The VIN issue is entirely separate from the operation of the vehicle.

Jeep Wrangler with turbo four now available for order – at $3,000 extra

As a break from tradition, the JL body Jeep Wrangler will be available with a turbocharged gasoline four-cylinder engine. Sources say the 268-horsepower, 295 lb-ft turbo four is now available to be ordered from Jeep dealers, according to a post at the JL Wrangler forums. The kicker is that even though choosing the 2.0-liter direct-injection turbo is a $1,000 option over the base, 285-horsepower 3.6-liter V6 with 260 lb-ft of torque, it will only be available with an eight-speed automatic transmission which is itself a $2,000 option, bringing the turbo total to $3,000. Reasons to go for the blown four banger include most likely better fuel economy and improved full-throttle acceleration, even if a six-speed stick shift option would be a good companion for a turbo engine. Our test drive in December noted the overall gearing of the automatic to be quite low, which traditionally compromises fuel economy. Interestingly, there will be a "mild" eTorque plug-in hybrid version of the JL Wrangler in 2020, based on the aforementioned turbo engine. The other upcoming engine option will be a 3.0-liter V6 diesel, with a nearly similar 260-hp power figure but a more substantial 442 lb-ft torque reading. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: JL Wrangler ForumsImage Credit: FCA US Auto News Jeep SUV Off-Road Vehicles