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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.

Fiat Chrysler, Waymo expand partnership for Level 4 self-driving

Fiat Chrysler and Waymo, the self-driving unit of Google parent Alphabet Co., are expanding their partnership in an ambitious plan to develop fully autonomous commercial delivery vehicles and integrate Level 4 autonomous technology across the FCA fleet, the two companies said Wednesday. The agreement makes FCA (soon to be dubbed Stellantis when the PSA merger is complete) the exclusive partner for Waymo to develop and test self-driving Class 1-3 light commercial delivery vehicles. Initial efforts will focus on integrating the Waymo Driver system into the Ram ProMaster cargo van for commercial fleets, including Waymo Via, which have seen demand for home delivery services mushroom during the coronavirus pandemic. Conversely, FCA has tapped Waymo as its exclusive supplier for Level 4 self-driving technology across its vehicle fleet, opening up possibilities for ride-hailing and personal-use vehicles. An FCA spokesman would not commit to any timelines for integrating Waymo’s self-driving technology into the ProMaster or other brands or models. The Society of Automotive Engineers defines Level 4 systems as fully automated driving, though a human driver can manually override and take control of the wheel. There are currently no Level 4 autonomous vehicles offered to customers, and most experts believe the technology still faces many obstacles to broad adoption and regulatory clearance. Fiat Chrysler first partnered with Waymo in 2016. The two companies have worked to test WaymoÂ’s Level 4 technology using retrofitted Chrysler Pacifica Hybrid minivans. “Our now four-year partnership with Waymo continues to break new ground,” Mike Manley, Fiat ChryslerÂ’s CEO, said in a statement. “Incorporating the Waymo Driver, the worldÂ’s leading self-driving technology, into our Pacifica minivans, we became the only partnership actually deploying fully autonomous technology in the real world, on public roads.” Waymo recently introduced its fifth generation of the Waymo Driver system, which it completely redesigned to be able to handle more environments and situations. It combines 360-degree lidar sensors positioned atop the vehicle and at four points around the sides, plus cameras and radars. Waymo said it had already manufactured the new sensors and integrated them onto Jaguar I-Pace test vehicles.

Chrysler Airflow being redesigned and renamed for production

The Chrysler Airflow concept is dead in name and form. Motor Trend spoke to Stellantis design chief Ralph Gilles, who said brand CEO Chris Feuell "wanted a statement that had literally zero to do with anything that you have seen today, even the Airflow concept car. It is evolving in a new direction." When MT spoke to Feuell about the name, she said, "There is a group of people who love the Airflow name and just as many who beg us not to use it." The magazine believes a new-to-the-brand name will get the nod, Chrysler perhaps hoping to perform a hard reset on buyer perceptions. The redesign is far enough along to have been previewed in Los Angeles earlier this year, Feuell saying reactions tell them "we have a hit on our hands," Gilles saying "It blew the doors off." We won't see it until next year, and no one at the brand has offered a clue about how it's changed from the Airflow concept now a couple of years old. We know Feuell is plotting a remake of the entire the Chrysler experience, from shopping its products online and at dealers to after-sales care. She's said before she wants Chrysler to become Stellantis' "startup brand," offering "clean mobility, seamless technology," and affordable pricing. Affordable doesn't mean what it used to mean, so we don't know where product planners intend to slot the coming vehicles. Tesla buyers have been mentioned as one of Feuell's targets, but we're clearly still in the early days of transformation when marketing Venn diagrams encompass aspirations and projections that will be whittled out as production nears. Even for all that, the Airflow didn't scream "Chrysler transformed!" save for its battery-electric powertrain. Chrysler's tracking like Jaguar at the moment, with a lean range for dealers until the EV revolution begins in 2025. And as with Jaguar, considering how long Chrysler's plateaued, putting it kindly, it's not surprising the boss wants a more compelling wrapper. When the Pentastar's two-row crossover debuts, it will sit on the STLA Large platform, offer 400- and 800-volt electrical architectures, and pack batteries that power up to 400 miles of range. More important, it will establish the baseline for the product overhaul leading to an entirely new portfolio by 2028. We'd love to see Chrysler get it right. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.