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Trucks, SUVs — and Camry — shine in mixed U.S. January vehicle sales

DETROIT — Automakers posted mixed U.S. new vehicle sales data for January, with American consumers continuing to abandon passenger cars for the larger pickup trucks, SUVs and crossover models that manufacturers also love because they are far more profitable. Total industry auto sales for the month rose 1 percent versus January 2016. According to Autodata Corp, which tracks industry sales, the seasonally adjusted annualized rate (SAAR) of U.S. car and light truck sales in January fell to 17.12 million units from 17.44 million a year earlier. Analysts polled by Reuters had expected a January SAAR of 17.2 million units. U.S. auto industry sales fell 2 percent in 2017 to 17.23 million vehicles after hitting a record high in 2016 and are expected to drop further in 2018 despite a solid economy. Interest rates are rising and around 4 million late-model used cars will return to dealer lots this year to compete with more expensive new ones. Automakers have used consumer discounts to boost sales, a growing concern for observers who say this undermines resale values and profits. Discounts declined in January, but remained above 10 percent of manufacturers' recommended prices. ""I think the industry has accepted that (sales) volumes will fall somewhat in 2018 ... and I don't think the industry is going to go over the cliff with insane incentives," Mike Jackson, chief executive officer of AutoNation Inc, told Reuters after his company, the largest U.S. auto retail chain, posted a higher quarterly net profit. Mark Wakefield, head of the North American automotive practice for consultancy AlixPartners, had a gloomier perspective. The industry's less-than-stellar sales performance for January showed "we are now past the peak," he said. "Automakers are now selling the deal instead of the vehicle," he said. "That's a tough spot to be in because that treadmill is hard to get off once you're on it." General Motors January sales rose 1.3 percent, driven by a 16 percent rise in fleet sales. Sales to consumers fell 2.4 percent. GM posted strong gains for models such as the Silverado pickup truck and Equinox crossover model, while its passenger cars continued to struggle. Ford The Blue Oval posted a 6.6 percent sales decline for January, with retail sales down 4.3 percent. Sales of Ford's F-Series pickup trucks - America's best-selling vehicle brand for decades — rose 1.6 percent. Passenger cars were down more than 23 percent.

Fiat Chrysler posts record Q3 profit thanks to U.S. trucks and Jeep

MILAN — A rebound in car production in Fiat Chrysler on Wednesday reported record third-quarter earnings as production returned to nearly pre-pandemic levels. The Italian-American automaker, which is finalizing its full merger with French rival PSA Peugeot, reported a net profit in the three months ending Sept. 30 of $1.4 billion (1.2 billion euros). That compares with a loss of 179 million euros a year earlier. The carmaker reported adjusted earnings before tax and interest in North America of 2.5 billion euros. That offset deepening losses in Europe, Asia and at its Maserati luxury marquee. Latin America, the only other region to post a profit, saw it narrow by two-thirds to 46 million euros. “Our record results were driven by our teamÂ’s tremendous performance in North America,” CEO Mike Manley said in a statement. Overall, the carmaker said global earnings before tax and interest were a record 2.3 billion euros despite a 6% fall in revenues to 26 billion euros. Global shipments were down 3%, due largely to plant retooling in North American to produce the new Jeep Grand Wagoneer in the luxury SUV segment and the discontinuation of the Dodge Grand Caravan classic minivan. Fiat Chrysler announced earlier Wednesday that its merger with PSA Peugeot is on track to be finalized by the end of the first quarter of 2021, as planned. To meet regulatory concerns, the French carmaker is selling a small stake in a components maker to get below 40% ownership. The new automaker, to be called Stellantis, will be the fourth biggest producer in the world. Earnings/Financials Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

2018 Chrysler Pacifica Hybrid Long-Term Update | Keeping things fresh

We're big fans of our long-term 2018 Chrysler Pacifica Hybrid. In the few months we've had it, we've racked up quite a few miles. We have some road-trip stories coming later on (including a 2,500-mile round trip to New England), but I wanted to highlight a small but interesting feature on our Ocean Blue people mover, the "Fuel and Oil Refresh Mode". From the owner's manual: Since it is possible to operate this vehicle for extended periods of time without running the gas engine, the fuel within the vehicle's fuel tank can become stale. To prevent engine and/or fuel system damage due to stale fuel, as well as, maintaining internal engine lubrication, this vehicle is equipped with a "Fuel and Oil Refresh Mode". The vehicle will automatically enter into the Fuel and Oil Refresh Mode to minimize potential for stale fuel, and to ensure lubrication of internal engine components. When operating in this mode, the gas engine will run to provide vehicle propulsion (electric only operation is inhibited). A message will be displayed in the instrument cluster whenever Fuel and Oil Refresh Mode is active. The vehicle will automatically exit the Fuel and Oil Refresh Mode when conditions have been satisfied. If the vehicle enters Fuel and Oil Refresh Mode, due to fuel which has been in the fuel tank for a long period of time (becoming stale fuel), the engine will run whenever the vehicle is operational (no electric only operation) until the low fuel level warning is activated. It is possible to exit the Fuel and Oil Refresh Mode sooner by adding new fuel to the vehicle's fuel tank. Basically, the engine will automatically cycle on to help burn fuel and lubricate the engine if the Pacifica has been running on pure electricity for an extended period of time. This may sound wasteful, but fuel does go stale and it's not good for the Pacifica's V6 to go without circulating oil every once in a while. A message pops up on the instrument cluster and the engine runs until the computer decides its cycled enough. In our experience, it's not run for more than a few minutes at a time. Since most of us live within 15 or so miles of the office, we can usually make it home and back without expending the Pacifica's 33-mile electric range, even if we make a trip to the store or go out for dinner. The refresh mode has kicked on a few times already, and we expect it to kick on quite a few more times before our loan is up. Related Video: