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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

Chrysler banks $507 million in Q2, trims 2013 earnings forecast

Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $1.7 and $2.2 billion, according to Automotive News.
In addition to the adjusted net income forecast, Chrysler tweaked its operating profit from $3.8 billion to between $3.3 and $3.8 billion. This has gone largely unexplained by Chrysler, perhaps hoping the news of a three-percent increase in its transaction prices for Q2 will allow it to sweep this adjustment under the rug.
The star of the show for Chrysler has been its US sales, which saw a 10-percent jump, both bettering the industry average of eight percent and improving over the same stretch of 2012. As with the increase in transaction prices, Chrysler has the new Ram pickup and Jeep Grand Cherokee to thank. Perhaps most worrying from this report, though, is that every brand in the automaker's stable saw an increase in sales... except for the Chrysler brand itself.

2021 Ram 1500 TRX | How we'd build our Hellcat-powered pickup

That didn’t take long. The 2021 Ram 1500 TRX was only revealed yesterday, but the configurator is already up and running. HereÂ’s the link. We surveyed the room to see how all of us would spec out their supercharged pickup. For a truck that starts above $70,000, there are a surprising number of option boxes available to check. If money doesnÂ’t matter, you can spec out a TRX thatÂ’s over $90,000. Even reasonably-equipped trucks will crest $80,000 quickly. There isn't unanimous agreement about whether we like the truck or not either. Spoiler alert: Green Editor John Snyder isnÂ’t a fan. Fuel economy in Challenger and Charger Hellcats can easily dip into the single digits when driven aggressively, and we can guarantee that the truck will only be worse. Others adore its silliness and FCAÂ’s current strategy of shoving its supercharged V8 into any vehicle that will accommodate one. We could go for a Pacificat next. The Previa canÂ’t have all the supercharged minivan fun. Read on to see our builds, and let us know how youÂ’d spec a TRX out in the comments below. Road Test Editor Zac Palmer: ThereÂ’s no making this truck cheap. The TRX is extremely expensive, and anybody buying one will just have to accept it. ThatÂ’s why IÂ’ve decided to go nearly all out with my build. After all, if youÂ’re paying luxury car money for a vehicle, you might as well enjoy a luxury experience. My TRX costs $88,665. It has $16,975 worth of options on it, which isnÂ’t entirely out of the ordinary for trucks these days. On the outside, I chose the bright Hydro-Blue Pearl paint. For only $100, I couldnÂ’t say no to a color. The TRX would look menacing in black or gray, but I think a bright color is much more fitting for an off-road play truck. I also went with the all-black non-beadlock wheels, because I prefer the look and probably donÂ’t need the capability. Rock rails and the bed-mounted tire carrier were also on my list. ItÂ’s not like I want to carry a tire around in my bed, but it sure does look the part. Again, this is a silly truck. Optioning it with silly add-ons is what it deserves. The interior options are boring, but I was able to spruce it up a smidge with TRX red interior accents. My biggest purchase was the TR2 trim package, though. You get Â… well, pretty much everything for $7,920.