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Fiat Chrysler posts record Q3 profit thanks to U.S. trucks and Jeep

MILAN — A rebound in car production in Fiat Chrysler on Wednesday reported record third-quarter earnings as production returned to nearly pre-pandemic levels. The Italian-American automaker, which is finalizing its full merger with French rival PSA Peugeot, reported a net profit in the three months ending Sept. 30 of $1.4 billion (1.2 billion euros). That compares with a loss of 179 million euros a year earlier. The carmaker reported adjusted earnings before tax and interest in North America of 2.5 billion euros. That offset deepening losses in Europe, Asia and at its Maserati luxury marquee. Latin America, the only other region to post a profit, saw it narrow by two-thirds to 46 million euros. “Our record results were driven by our teamÂ’s tremendous performance in North America,” CEO Mike Manley said in a statement. Overall, the carmaker said global earnings before tax and interest were a record 2.3 billion euros despite a 6% fall in revenues to 26 billion euros. Global shipments were down 3%, due largely to plant retooling in North American to produce the new Jeep Grand Wagoneer in the luxury SUV segment and the discontinuation of the Dodge Grand Caravan classic minivan. Fiat Chrysler announced earlier Wednesday that its merger with PSA Peugeot is on track to be finalized by the end of the first quarter of 2021, as planned. To meet regulatory concerns, the French carmaker is selling a small stake in a components maker to get below 40% ownership. The new automaker, to be called Stellantis, will be the fourth biggest producer in the world. Earnings/Financials Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

Jeep Wrangler production in Toledo to nearly double by 2018

The Jeep Wrangler's future in Toledo, OH, is officially secure. FCA US announced plans on Thursday to spend $1.05 billion to retool the Wrangler factory and another site in Illinois to build Jeeps. The investment could add up to 1,000 jobs, and, according to The Detroit Free Press, allow Jeep to build as many as 450,000 Wrangler models in Toledo. FCA is investing $700 million to make over the Toledo North factory to build the next-generation Wrangler – a vehicle that's hotly anticipated by enthusiasts. FCA said this will add about 700 new jobs. The Wrangler factory is part of a multi-site complex in Ohio, and FCA said an announcement about the South factory will come later. Nearly two years ago, FCA chief executive Sergio Marchionne touched off a firestorm by suggesting the Wrangler could leave Toledo, though plans to keep the iconic Jeep there quickly proceeded. Automotive News reports the new Wrangler will use some aluminum elements, run a turbo four-cylinder engine, and offer a diesel variant. Designers will also pay increased attention to aerodynamics, though maintain the Wrangler's familiar appearance. Additionally, FCA reportedly plans to build a Wrangler pickup in Toledo. That 450,000-vehicle threshold could potentially break down into 350,000 traditional Wrangler models, along with another 100,000 Wrangler-based pickup trucks. When the current Toledo plant was opened in 2005, Chrysler said its capacity was about 150,000 vehicles per year. Since then, that figure has increased to about 240,000 Wranglers yearly, and Jeep has no problem selling that many. FCA's factory in Belvidere, IL, gets $350 million for upgrades to produce the Jeep Cherokee, which moves there in 2017 from Toledo as part of a product shuffle. FCA builds the Dodge Dart and Jeep's Patriot and Compass in Belvidere. The automaker is killing the Dart and will replace the compact Jeeps with a single model next year. The moves are part of FCA's strategy to fortify the Jeep brand, which has posted healthy sales and enjoys a strong reputation around the world. Related Video:

Here's why you shouldn't try to drift a Jeep Cherokee

This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. There are many reasons why an XJ-generation (or really any other) Jeep Cherokee doesn't make for a good drift machine. It's tall, it's four-wheel-drive... it's a Jeep, okay? But someone apparently forgot to tell that to this guy. Uploaded to LiveLeak, this video shows some poor schmuck who took his Cherokee to a (mostly) empty parking lot and tried to drift it. Needless to say, things didn't go quite as he planned, but they probably went exactly as you might have expected. Thankfully, nobody appears to have been hurt. Or at least, we assume so, since the guy apparently survived to put the video up online.