2004 Jeep Liberty Sport 4-door 3.7l 4x4 on 2040-cars

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Fiat Chrysler profit up as it closes in on retiring its debt

MILAN — Fiat Chrysler Automobiles reduced its debt by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. Chief Executive Sergio Marchionne expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros ($5 billion) in net cash by the end of the year. Marchionne has said that forecast does not include any one-off measures, nor the impact of the planned spinoff of parts maker Magneti Marelli, which he hopes to execute by early 2019. The world's seventh-largest carmaker said on Thursday net debt had fallen to 1.3 billion euros ($1.6 billion) by the end of March, well below a consensus forecast of 2.6 billion euros in a Thomson Reuters poll of analysts. FCA said capital spending fell 900 million euros in the quarter due to "program timing," which analysts said implied higher investments for the rest of the year. The Italian-American group said first-quarter operating profit rose 5 percent to 1.61 billion euros, below a consensus forecast of 1.74 billion, as a weaker performance from its North American profit center weighed. Shipments there were higher due to the new Jeep Wrangler and Compass models. But currency moves hit revenues and earnings, and costs related to new product launches added to the pressure. FCA's shift to sell more trucks and SUVs boosted margins yet again in North America to 7.4 percent from 7.3 percent in the same quarter a year ago, although they were down from the 8 percent recorded in the preceding three months. Marchionne, preparing to hand over to an internal successor next year, is close to his goal of ending a margin gap with larger U.S. rivals General Motors and Ford. The 65-year-old has said becoming debt free and being able to compete on a par with U.S. peers would mean FCA no longer needed a partner to survive and could well succeed on its own. The CEO has previously said tying up with another carmaker would help to meet the huge costs in an industry investing in electric vehicles and automated driving. FCA shares fell immediately after the results, but recovered to trade up 3 percent at 19.71 euros by 1150 GMT, outperforming a 0.4 percent rise in Europe's blue-chip stock index. ($1 = 0.8214 euros) Reporting by Agnieszka FlakRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Total auto recalls already on record pace in 2014

If you've noticed that there have been more recalls than usual this year, you may be on to something. According to a report from the National Highway Traffic Safety Administration, the US market is on pace to break a record for recalls. In 2013, 22 million cars were recalled. We're only a third of the way through 2014, though, and we've already halved that figure, with 11 million units recalled. That's wild.
Considering the past few months, it shouldn't be a surprise that General Motors is leading the charge, with six million of the 11 million units recalled coming from one of the General's four brands. Between truck recalls, CUV recalls and the ignition switch recall, 2014 hasn't been a great year for GM.
Other recall leaders include Nissan (one million Sentra and Altima sedans), Honda (900,000 Odyssey minivans), Toyota (over one million units in a few recalls), Volkswagen (150,000 Passat sedans), Chrysler (644,000 Dodge Durango and Jeep Grand Cherokee SUVs) and most recently, Ford (434,000 units, the bulk of which were early Ford Escape CUVs). So while it's been a bad year for GM so far, its competitors aren't doing too well, either.

Jeep's 75th Anniversary Wrangler Salute rolls down the line

UPDATE: The commemorative 75th Anniversary Jeep Wrangler rolled down the assembly line in Toledo, Ohio today. With its roll bar, doors, and rear seat removed, it really does pay fitting tribute to the classic Willy military models of the past. The 419 area code stenciled on the bumper and date on the hood look period appropriate. Well done, Jeep. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. It's difficult to pinpoint exactly when the Jeep Wrangler was born, but the automaker claims the legendary off-roader as we know it today was officially created in 1941. On July 15th of that year, the US Government awarded Willys-Overland with a contract to build the Willys MB, which quickly got the nickname "jeep". To commemorate its 75th anniversary, Jeep has created a WWII-themed Wrangler that pays homage to the Willys MB. The gorgeous concept most likely won't see the road, which is a shame as the rugged one-off yanks at the heartstrings of truck enthusiasts and historians alike. Based on of the current Wrangler Sport, the olive-drab Wrangler 75th Salute concept imitates the original Willys MB to the tee. The concept has no B-pillars, no doors, no roll bars and honors the "function over form" styling of the original military vehicle. The concept rides on 16-inch steel wheels that are wrapped in 32-inch non-directional tires and features vintage-looking hood latches, steel front and rear bumpers with tow hooks, and low back canvas seats. The Salute concept will be built on the same assembly line in Toledo, OH that has produced the Wrangler for decades. In addition to putting out an image of the concept, Jeep also touched on the rich history of the original Willys MB, which you can read below. Related Video: In July 1940, the U.S. military informed automakers that it was looking for a "light reconnaissance vehicle" to replace the Army's motorcycle and modified Ford Model-T vehicles. The Army invited 135 manufacturers to bid on production and developed a lengthy specification list for the vehicle, including a 600-lb. load capacity, wheelbase less than 75 inches, height less than 36 inches, smooth-running engine from 3 to 50 miles per hour, rectangular-shaped body, four-wheel drive with a two-speed transfer case, fold-down windshield, three bucket seats, blackout and driving lights and a gross vehicle weight below 1,300 lbs.