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Chrysler nets $1.6B income in Q4, Fiat profit up 5%

Chrysler announced its 2013 financial results today and unveiled its new name and decidedly bank-like logo. Amid the announcement, Chrysler posted big gains in income, while Fiat didn't perform to analysts' expectations.
For 2013, Chrysler had revenue of $72.1 billion, up 10 percent from 2012. Net income reached $2.8 billion, a 65-percent increase. It was the company's third straight year of annual profits.
In terms of unit sales, Chrysler sold 2.4 million cars worldwide in 2013, up 9 percent. According to Automotive News, 1.8 million of those vehicles were sold in the US, a 14-percent increase. The sales growth boosted Chrysler's US market share to 11.4 percent, up 0.2 percent.

Chrysler recalling 644k more Dodge Durango and Jeep Grand Cherokee SUVs over brakes

Early last month, we reported on Chrysler issuing a preemptive, proactive recall for about 25,000 units of the Jeep Grand Cherokee and Dodge Durango. The issue revolved around a brake system that wasn't causing any actual problems, but delivered an unsatisfactory brake feel, so Auburn Hills called in a good 25,000 of SUVs around the world, including 18,700 in the United States.
Now Chrysler, having apparently determined that the brake problem on its sport utes is actually much bigger than it initially realized, has drastically broadened the scope of the recall. As a result, the National Highway Traffic Safety Administration has issued a recall for precisely 655,354 examples of the Grand Cherokee and Durango, covering the 2011 through 2014 model years. In addition, Chrysler is recalling 42,380 units in Canada, 21,376 in Mexico and 159,685 overseas.
The problem which Chrysler found revolves around the brake booster, whose center shell has been found to be subject to corrosion, allowing water to get into the brake system. That water in turn could freeze, preventing the brakes from working as well as expected.

Chrysler recalling nearly 141k vehicles over electrical woes

Software glitches that randomly illuminate warning lights and cause instrument cluster blackouts are forcing Chrysler to recall 140,800 vehicles, The Detroit News reports. The automaker is recalling 132,000 2014 Jeep Grand Cherokees, 91,559 of which are in the US. In addition to the Jeep recalls, Chrysler is adding 10,800 2014 Ram 1500, 2500 and 3500 trucks to the list for similar problems.
Chrysler reportedly says, "Both events occurred infrequently and appeared to resolve themselves by tuning the vehicle's ignition off and then on."
Engineers discovered a problem with the anti-lock-braking system software that causes the instrument cluster display of the Grand Cherokee to illuminate warning lights and black out - even its ABS and electronic stability control systems are affected. To fix the Jeeps, Chrysler will update the vehicle's software.