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Car Club USA: Chrysler Power Classic

Car Club USA heads to the Buckeye State for some high-octane drag racing at the Chrysler Power Classic. And for these amateur drag racers, nothing but Mopar muscle will do. "I would say Mopar is kind of a way of life," says Larry Augenstine. "Some people get addicted to lemonade, or beer, [or] drugs. Well, I'm Mopars." Larry drives a 1968 Plymouth Barracuda with a 426 Hemi motor that once belonged to local racing legend Ray Christian. He's joined at the track by Mark Ipsen of the Midwest Nostalgia Pro Stock Association. Mark runs a 1979 AMC Concord with a modified 401 block V8 that he claims has dynoed at just under 1,000 horsepower. The biggest threat to any day on track is Mother Nature, who cast a threatening shadow over National Trail Raceway for much of the event. When the clouds and rain subsided, our cameras captured the grounds crew in action with blowers, torches, and a sticky compound that's sprayed the entire length of the track. Can Larry, Mark, and the rest of these Mopar fanatics make the most of the few runs they'll get? Stay tuned to find out. Each Car Club USA episode features a different car club or event from across the US, where passionate owner communities gather to share automotive experiences and embark on incredible adventures. From Main Street cruises to off-road trails, catch all the latest car club activity on Autoblog. Chrysler Racing Vehicles Performance Car Club USA Videos Original Video autoblog black

North America profit helps Fiat Chrysler limit its losses from coronavirus

MILAN — Italian-American automaker Fiat Chrysler Automobiles (FCA) posted a smaller-than-expected operating loss in the second quarter, as a small profit in North America helped to limit the damage wrought by the COVID-19 pandemic. FCA said on Friday it had an adjusted loss before interest and tax of 928 million euros ($1.1 billion) in April-June, versus a forecast 1.87 billion euro ($2.2 billion) loss in an analyst poll compiled by Reuters. The group also said it made adjusted earnings before interest and tax of 39 million euros ($46.2 million) in North America, the home market of its Jeep and Ram brands, in the quarter. Milan-listed FCA shares were up 1.2% at 1125 GMT, after being little changed before the results. Chief Executive Mike Manley said the group's plants were up and running and car dealers were selling in showrooms and online, following disruptions caused by the pandemic. "We have the flexibility and financial strength to push ahead with our plans," he said in a statement. FCA, which is set to tie-up with Peugeot maker PSA to create Stellantis, the world's fourth largest carmaker, said on ongoing probe launched by European Commission competition authorities was not expected to delay the merger timetable. Despite the pandemic, PSA earlier this week delivered a profit in the first half of the year and stuck to its medium-term margin goal. FCA said its industrial free cash flow was minus 4.9 billion euros in the second quarter, with a slightly lower cash burn compared with January-March.  

Chrysler and Fiat offering $1,000 rebates to VW owners as Marchionne gets tough

The throw-down between Fiat CEO Sergio Marchionne and Volkswagen has heated up in earnest. According to Bloomberg, Fiat and Chrysler are now offering current Volkswagen owners in the US $1,000 rebates to trade in their ride. It's the latest in a series of shots Marchionne has taken at his German rival. As you may recall, the Fiat executive entered into a spat with Volkwagen board chairman Ferdinand Piëch and CEO Martin Winterkorn in October after the duo called for Marchionne's resignation from presidency of the European Automotive Manufacturers Association (AECA). At the time, the Volkswagen executives were quoted as saying Fiat would not survive the European economic downturn.
In response, Marchionne called the German executives "reprehensible," and accused Volkswagen of using a pricing strategy that has created created a "bloodbath" in the EU. Volkswagen has taken to steep discounting to carve out ever-larger slices of market share in Europe, but the company has a much smaller foothold in the US. Marchionne may be trying to hit Volkswagen where the manufacturer is weakest with the new Fiat new incentive program.
Late last week, the Fiat executive was voted to a second term as ACEA president.