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Chrysler nets $1.6B income in Q4, Fiat profit up 5%

Chrysler announced its 2013 financial results today and unveiled its new name and decidedly bank-like logo. Amid the announcement, Chrysler posted big gains in income, while Fiat didn't perform to analysts' expectations.
For 2013, Chrysler had revenue of $72.1 billion, up 10 percent from 2012. Net income reached $2.8 billion, a 65-percent increase. It was the company's third straight year of annual profits.
In terms of unit sales, Chrysler sold 2.4 million cars worldwide in 2013, up 9 percent. According to Automotive News, 1.8 million of those vehicles were sold in the US, a 14-percent increase. The sales growth boosted Chrysler's US market share to 11.4 percent, up 0.2 percent.

Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall

Junkyard Gem: 1975 Plymouth Fury Sedan

The Plymouth Fury was once among the most commonplace vehicles on American roads, with the 1970s being the most Furious decade of all. If you've watched a lot of Malaise Era cop shows, you've seen endless examples of the 1975-1978 B-Body Fury sedan; today's Junkyard Gem in Colorado is a civilian version with a very unusual combination of features and options. Though the 1975-1978 Fury is sibling to many much more famous B Platform Chryslers, including the Dukes of Hazzard General Lee and a lot of other highly revered Mopars of the late 1960s and early 1970s, it doesn't get the recognition it deserves today. Would the world be the same if Debbie Harry had posed in her Anya Phillips dress on the bumper of, say, a Ford LTD instead of the iconic '76 Fury on the cover of Plastic Letters? I've got this album cover hanging on my garage wall, right next to Sir Mix-a-Lot's My Hooptie and its '69 Buick Electra. This sun-baked '75 left the assembly line with some nice luxury options for an affordable midsize sedan of its time, including a padded vinyl roof. Factory air conditioning was a $437 option on the Fury in 1975, a price tag that comes to an attention-grabbing $2,185 in 2020 dollars. The MSRP on a Fury sedan that year started at just $3,571 ($17,840 today), so A/C jacked up the cost by close to 15%. The base engine was a 225-cubic-inch (3.7-liter) Slant-6, but this car took the next step up on the Fury engine hierarchy for 1975: a 318-cubic-inch (5.2-liter) V8 making 145 horsepower. Here's where things get a bit weird. That shift lever on the steering column controls a three-speed manual; this rig is commonly known as a three-on-the-tree. The most popular transmission setup on Detroit cars of the 1940s through the early 1960s, the good ol' three-on-the-tree survived here all the way through the 1979 model year in new cars and 1987 in new trucks. By 1975, most lower-priced American mid- and full-sized cars had the three-on-the-tree as base equipment, but by that time nearly every new-car shopper here opted for an automatic transmission or — occasionally — a floor-shifted three- or four-speed manual. The total number of 1975 Fury buyers who sprang for the V8 engine, air conditioning, and a vinyl roof yet still kept the old-fashioned three-on-the-tree transmission setup probably can be counted in the low hundreds, if even that many.