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FCA earnings improve in first quarter

Following on the recent global financial releases from Ford and from General Motors for the first quarter of 2015, FCA is now putting out its own numbers, and things look quite good for the company. The automaker posted adjusted earnings before taxes and interest of $895 million, a 22-percent jump from Q1 2014, and net profits of $103 million, a $296-million boost from last year. Revenue was also up 19 percent to $30 billion. Despite the favorable figures, actual worldwide shipments fell slightly by 2 percent to 1.1 million vehicles. FCA is giving some credit for these strong Q1 results to the automaker's performance in the NAFTA region. Shipments grew 8 percent to 633,000 vehicles, and net revenue jumped a strong 38 percent to $18.1 billion. Adjusted earnings reached $672 million, compared to $425 million in 2014. The company especially praised the Jeep Renegade, Chrysler 200, and Ram 1500 for helping the bottom line. The numbers could have been even higher, but the corporation admitted that "higher warranty and recall costs" partially drug things down. For the full year in 2015, FCA expects to ship between 4.8 and 5 million vehicles worldwide and post up to $5 billion in adjusted earnings. There should be about $1.3 billion in net profit, as well. FCA CLOSED Q1 WITH NET REVENUES OF ˆ26.4 BILLION, UP 19% AND ADJUSTED EBIT AT ˆ800 MILLION, UP 22% 30/04/15 FCA closed Q1 with net revenues of ˆ26.4 billion, up 19% and adjusted EBIT at ˆ800 million, up 22%. Net industrial debt was ˆ8.6 billion, up ˆ0.9 billion. Full year guidance confirmed. Worldwide shipments were 1.1 million units, 2% lower than Q1 2014, reflecting strong performance in NAFTA and weak market conditions in LATAM. Jeep's positive performance continued with worldwide shipments up 11% and sales up 22%. Net revenues were up 19% to ˆ26.4 billion (+4% at constant exchange rates, or CER). Adjusted EBIT was ˆ800 million, up ˆ145 million from Q1 2014, with all segments except LATAM posting positive results. The positive impact of foreign exchange translation was offset by negative impacts at a transactional level. Net profit was ˆ92 million, up ˆ265 million compared to the net loss of ˆ173 million in Q1 2014. Net industrial debt was ˆ8.6 billion, up ˆ0.9 billion from year-end mainly due to timing of capital expenditures and working capital seasonality. Liquidity remained strong at ˆ25.2 billion. The Group confirms its full-year guidance.

Maserati's new North American CEO is Chrysler's dealer guru

There's been a bit of a shakeup among the executive ranks at Chrysler and Maserati, as the Italian sports car manufacturer has appointed Peter Grady as its new North American CEO. Grady, who we imagine is about to get a very nice upgrade to his company car, will retain his role as vice president of dealer network development for Chrysler and Chrysler Capital, and is replacing Bob Graczyk at Maserati.
"It is with pleasure and anticipation that I welcome Peter to Maserati. He brings to our company nearly 30 years of leadership and experience. His background and industry expertise will be a great basis for the continued expansion of Maserati in North America," said Maserati CEO Harald Wester in a statement.
Also joining the team at Maserati is Saad Chehab, who previously worked for the Chrysler and Lancia brands and will be the new head of marketing for the Italian brand. He'll be replaced by Al Gardner, the former boss of Chrysler's southeast business center, as the head of Chrysler brand, according to Automotive News.

SpeedKore's 'Baba Yaga' Chrylser Pacifica will eat kids, not shuttle them

In American movies, the Baba Yaga wears a tailored tactical suit, carries an HK P30L as his primary, drives a 1969 Mustang Mach1, and answers to the name of John Wick. In Slavic folklore, the original Baba Yaga wears less exclusive garb, carries a mortar and pestle, and lives in a cottage that stands on and walks around the forest on chicken legs. The latter version would probably trade in her cottage for SpeedKore's conceptual creation named in her honor, a Chrysler Pacifica with a Demon engine. Working with virtual artist Abimelec Arellano at Abimelec Design, the Wisconsin-based tuners drew up a minivan that could put fear into any children unfortunate enough to anger the mother behind the wheel. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This isn't just about a witch, either. It's a witch with a side of demon plus an extra side of demon. The Hellcat powertrain reaches 1,025 horsepower in the limited-edition Dodge Challenger SRT Demon 170. That wasn't enough. The caption notes, "The 6.2L V-8 has been treated to what we're calling the 'Lilith Package.' Named for the primordial mother of demons, the Lilith Package brings the supercharged Hemi to a proper 1,514 horsepower and channels it through an 8-speed ZF transmission before the Michelin wrapped SRT wheels deliver power to the pavement." Visual treats include a hood scoop, remade grille, and larger intakes for better breathing, fender flares, tinted taillights, central-exit dual exhaust, and the appropriate badging. A sleeper this is not.  A regular Chrysler Pacifica weighs about 4,530 pounds and makes, at most, 296 horsepower when given hybrid help. SpeedKore's version not only multiplies that figure by more than five, the aerospace-grade carbon fiber body panels that are a shop specialty are claimed to drop 1,000 pounds. They'll do a fine execution of the mission statement, which we're told is "setting lap records, roasting tires, and putting a pep in your step." Anyone who hasn't been too scrambled to step out of the van at its destination, at least. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.