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Chrysler earns $1.7B in 2012, revises product plans for US

Hot on the heels of Ford's earnings announcement for the year that was, Chrysler today reported a 2012 net income of $1.7 billion, up substantially from the comparatively minuscule $183 million profit earned in 2011 when it repaid its US government loans.
Chrysler's good year ended with an excellent fourth quarter that saw net income rise 68 percent from $225 million in 2011 to $378 million. Where are all those extra earnings coming from? Market share, which Chrysler saw increase to 11.4% last year on sales of 1.65 million vehicles. In fact, the Auburn Hills, MI-based automaker out-paced the industry's market growth of 13 percent last year with sales up 21 percent for the year.
The company also revealed an updated product plan for its Chrysler Group and Fiat brands that looks all the way out to 2016. It's an updated version of the plan introduced in 2009 shortly after Fiat took control of the American automaker, and includes such new additions as an Alfa Romeo model, likely the 4C, to be introduced in the US this year, as well five more Alfa models by 2016. Likewise, Fiat will be growing by an additional seven models in the coming few years.

Chrysler taking big risk snubbing NHTSA

Maker Insists Feds Overstate Risk Of Fires With Grand Cherokee, Liberty Models
It's not often that recall stories make it above the fold, in that old newspaper parlance, but when one shows up as the lead story on the network evening news programs, you know it's something big.
And so it is with Chrysler snubbing its nose at a request by the National Highway Traffic Safety Administration to recall 2.7 million Jeeps the feds insist are at risk of potentially catastrophic fuel tank fires in a rear-end collision.

Stellantis suspends vehicle production in Russia

MILAN - Stellantis on Tuesday said it was suspending production at its Russian plant due to logistical difficulties and sanctions imposed on Moscow. The world's fourth-largest automaker, which produced and sold the Peugeot, Citro¸n, Opel, Jeep, and Fiat brands in Russia, has just 1% of the country's car market. It runs a van-making plant in Kaluga, around 125 miles (201 kilometres) southeast of Moscow, co-owned with Japanese carmaker Mitsubishi, which halted production at the facility earlier this month. "Given the rapid daily increase in cross sanctions and logistical difficulties, Stellantis has suspended its manufacturing operations in Kaluga to ensure full compliance with all cross sanctions and to protect its employees," Stellantis said in a statement. The plant employs 2,700 people. The company will continue to pay salaries through a local downtime scheme and by using anticipated vacation periods, Stellantis told Reuters. It said it did not know how long the stoppage would last, adding that its priority was its staff and the return of peace. Stellantis had already suspended all exports and imports of vehicles with Russia, following Moscow's invasion of Ukraine, moving production to western Europe. It had also said it was freezing plans for more investments in the country. Van production in Kaluga had remained just for the local market. Scores of foreign companies have announced temporary shutdowns of stores and factories in Russia or said they were leaving the country for good since Russia began what it calls "a special military operation" in Ukraine on Feb. 24. Stellantis Chief Executive Carlos Tavares in late March said the group would have to close the Kaluga plant shortly as it was running out of parts. Separately on Tuesday, General Motors Co said it was extending its suspension of business in Russia due to the conflict and international sanctions. The U.S. automaker, which initially suspended imports into Russia and commercial activity on Feb. 28, said it was laying off most of its 66 employees and providing them with separation packages. GM does not have plants in Russia and only sold about 3,000 vehicles annually there prior to the suspension. (Additional reporting by Ben Klayman in Washington; Editing by Mark Potter and Mark Porter) Government/Legal Plants/Manufacturing Fiat Jeep Citroen Opel Peugeot