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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

Fiat Chrysler plans to speed up its product development

Fiat Chrysler is streamlining its global product development process in a bid to bring new or updated models to showrooms more quickly, reflecting heightened consumer expectations but also massive technological upheavals brought by things like electric vehicles, self-driving cars and ever more strident safety regulations. FCA recently announced plans to flatten its corporate product development structure across its global properties to reduce complexity, speed decision making and get products to the market faster than the years it can take today. It's similar to what Jim Hackett has been trying to do across town at Ford. FCA Chief Technology Officer Harald Wester, who is also executive chairman of Maserati, will oversee the reorganized product development unit. The company says it has already committed ˆ9 billion — nearly $10 billion at current exchange rates — toward its five-year plan to launch 30 new electrified nameplates globally, with plug-in hybrid versions of the Jeep Compass, Renegade and Wrangler due up first along with a full-electric Fiat car and commercial van. Maserati has also received a ˆ1.6 billion investment to bring about hybrid and battery-electric powertrains, plus Level 3 autonomous capabilities. “The industry has never experienced technological change at the pace we are now seeing,” CEO Mike Manley said in a statement. “So, weÂ’re unleashing the creative energy of our engineers and technical experts for the benefit of our customers and stakeholders worldwide.” One of the biggest changes is integrating powertrain and vehicle engineering, previously separate units, in a global process involving more collaboration and better deployment of resources. Engineering will also be supported by five centers of technical competence, including groups that will develop electronic architectures and another focused on advanced technologies. FCA says product development has previously been served by several different organizations that operated as regional sub-groups or standalone units. Left unmentioned is whether the merger with PSA Group, which will reportedly result in nearly 70 percent of all models produced by the two brands moving to just two PSA platforms, is helping to push the timeline on these changes. FCA is also making greater use of the Alfa Romeo Giorgio platform, planning it for the next-generation Jeep Grand Cherokee.

Recharge Wrap-up: VW Caddy TGI BlueMotion, VR tour of Tesla Model X

Take a 360-degree virtual tour of the Tesla Model X. Best viewed in the YouTube app on your smartphone, the video above - courtesy of Canadian Press Video News – allows you to look around the inside of the Model X as though you were sitting inside it. While you're viewing it, keep in mind Tesla CEO Elon Musk's words about virtual reality: "It's quite transformative. You really feel like you're there." See the video above, and read more at Teslarati. LG Chem's batteries for the 2017 Chrysler Pacifica Hybrid minivan will be the Korean company's first time engineering and manufacturing a complete battery pack in Michigan for a volume production North American plug-in hybrid. The packs include lithium-ion cells, electronics and control units. The batteries were engineered at LG Chem's Troy, Michigan facility, and will be built at the company's Holland, Michigan plant. "Our experience with entire battery packs, including cell design and manufacturing capability, as well as our expertise in vehicle integration, makes us the ideal battery supplier for the Pacifica Hybrid," says LGCPI CEO Denise Gray. "We believe our technical strengths, engineering and manufacturing expertise, position us as a leading battery and control system provider for electric vehicles today and in the future." Read more at Green Car Congress. Volkswagen Commercial Vehicles will debut its Caddy TGI BlueMotion van at the Geneva Motor Show. The van, which is suited to family, taxi or city delivery use, can run on CNG or bio-natural gas in addition to gasoline. It also features a six-speed DSG dual-clutch transmission – a first in its class. The multiple high-pressure tanks for compressed gas are located under the floor, preserving all the Caddy's precious cargo space. A TGI version of the Caddy Alltrack will also be available, initially with a six-speed manual transmission, with the DSG option arriving in the middle of 2016. Read more at Green Car Congress, and in the press release below.