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FCA posts $716m profit in 2014, has big plans for 2015

In practically every metric, Fiat Chrysler Automobiles announced growing worldwide earnings for 2014 in its latest financial release. The automaker sold 4.608 million vehicles globally for the year, a 6-percent jump, and total revenue grew 11 percent to 96.090 billion euros ($109 billion). Profits before taxes also increased by 161 million euros ($182 million) from last year to 1.176 billion euros ($1.3 billion). However, net profits did tumble by 1.319 billion euros ($1.5 billion) to a total of 632 million euros ($716 million). These figures put FCA slightly ahead of what some analysts expected. According to Automotive News, the company's adjusted earnings before taxes and interest of 3.651 billion euros ($4.1 billion) beat a forecast figure of 3.4 billion euros ($3.9 billion). Regionally, Europe is showing signs of a comeback. FCA lost 109 million euros ($123 million) there in 2014, but that was almost a triumph compared to the 506 million euro ($573 million) loss in 2013. According to Automotive News, North America played a major role in the company's success, accounting for 55 percent of its revenue. While these annual figures show growth, FCA is even more optimistic about its prospects in 2015. The company is forecasting shipments of between 4.8 and 5 million vehicles worldwide next year. It also estimates earnings before interest and taxes to reach 4.1 billion and 4.5 billion euros ($4.6 billion – $5.1 billion). You can read FCA's full results in PDF format, here. While this release focuses on worldwide figures, FCA US, previously known as Chrysler Group, announces its US results on February 3. News Source: Fiat Chrysler Automobiles, Automotive News - sub. req. Earnings/Financials Chrysler Fiat FCA fiat chrysler automobiles

Jeep hiring 1,000 part-time workers in Toledo on Wrangler, Cherokee demand

The new Jeep Cherokee has been quite a success for Chrysler, but its factory workers are getting tired. The automaker has agreed to hire up to 1,000 part-time, temporary employees at its Toledo Assembly Complex where the CUV and Wrangler are built. It will allow the company to keep Jeep production moving, while giving laborers a break.
According to plant manager Chuck Padden in the Toledo Blade, full-time workers are regularly taking on 60 hours a week, and it's beginning to wear on them. "To get them more time off is important to us, to make sure they're refreshed, and can work safely," said Padden.
Chrysler has already hired 380 temporary, part-time workers for the plant, and 50 have been converted to full-time employees. The company is in the process of interviewing the rest of the new hires now and plans to have all 1,000 in place by the summer. They will work between 10 and 30 hours a week mostly on weekends for $15.78 per hour with limited benefits. The temporary positions will last "as long as demand continues for the Jeep Wrangler and the Jeep Cherokee," said Jodi Tinson, Chrysler spokesperson for manufacturing and labor communications, to Autoblog in an email.

Continental Automotive recalls 5 million airbag control units

Takata isn't the only supplier having airbag problems. Rival manufacturer Continental Automotive Systems announced a recall of 5 million airbag control units fitted to vehicles from Honda, Fiat Chrysler Automotive, Mercedes-Benz, and even a certain Chrysler-based Volkswagen. This sweeping recall has actually been in progress for some time, although the exact scope is only now becoming evident. In October of 2015, Mercedes-Benz recalled 2008 and 2009 model year C- and GLK-Class vehicles because their Continental-made airbag control units could corrode. Such a condition could cause the airbags to deploy without cause or warning, or in the event of a crash, not deploy at all. You can read all about it in our post from last year. Now, Continental's recall is going wide. Alongside the already recalled C and GLK, you've already heard about the 2008 and 2009 Honda Accord airbag recall, which we reported on yesterday. Now, Fiat Chrysler is announcing the recall of the 2009 Dodge Journey, as well as the 2008 and 2009 Dodge Grand Caravan, Chrysler Town and Country, and their rebadged counterpart, the Volkswagen Routan. Yes, one manufacturer is recalling another manufacturer's vehicle. The models listed above only amount to about 580,000 vehicles out of 5 million bad airbag control units. And since Continental will notify manufacturers who will then issue their own recalls, it's extremely likely that more brands and vehicles will be ensnared. Stay tuned. Related Video: News Source: NHTSA via Automotive News - sub. req.Image Credit: Fabian Bimmer / Reuters Recalls Chrysler Dodge Fiat Honda Mercedes-Benz Safety Crossover Minivan/Van Sedan FCA