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FCA profits surge in second quarter

Fiat Chrysler Automobiles gave the cash register a beating in the second quarter, improving its net profit to 333 million euros ($364M US), which is a 263-percent jump over its reported Q1 profit of 92 million euros ($108M US). At the same time, FCA improved its global profit margin to 7.7 percent. Compared year-over-year, in Q2 2014 FCA reported net profit of 197 million euros making this year's Q2 a 69-percent increase, and profit margins a year ago were 4.9 percent. The two big factors for this increase are strong NAFTA sales and Jeep. In the US alone, Jeep sold 222,940 units in Q2 this year, a jump of almost 20 percent over the same period last year. Revenue in the NAFTA region totaled $18.8 billion, adjusted earnings before interest and taxes were $1.45 billion, both of those numbers more than doubling compared to 2014. The vastly better numbers come on marginally more global sales, 1,181,000 units sold in Q2 2014, 1,193,000 units sold in the same span this year. In the US, FCA began charging dealers one-percent more for vehicles to up the margins, a move that helped boost its US margin from 4.1 percent a year ago to 5.8 percent the first half of this year. The company is holding steady on its guidance of global deliveries at 4.8 million and its net profit guidance at $1.1 to $1.3 billion. It has increased its adjusted outlook for the year to $120.5 billion in revenue, and EBIT to "over $4.93 billion." News Source: Automotive News - sub. req.Image Credit: AP Photo/Carlos Osorio Earnings/Financials Chrysler Fiat Jeep FCA

Fiat Chrysler faces $79 million U.S. penalty for fuel economy shortfall

WASHINGTON — Fiat Chrysler Automobiles NV on Wednesday said it faces a $79 million U.S. civil penalty for failing to meet 2017 fuel economy requirements, as regulators reported more automakers were falling short of U.S. greenhouse gas emissions standards. The Italian-American automaker said the payment is not expected to have a material impact on its business. Of 18 major carmakers in the United States, 13 including Fiat Chrysler failed to comply with fuel economy and greenhouse gas emissions standards for the 2017 model year without using credits, according to the National Highway Traffic Safety Administration (NHTSA). The agency said its review of model year 2017 vehicles showed "automakers falling further behind current standards." The 2017 model fleet fell 1 1/2 miles per gallon short of the 33.8 mpg standard based on yearly performance without including credits, NHTSA reported. The shortfall was a half-mile per gallon for the 2016 model year. NHTSA said more automakers were failing to comply with standards for the 2018 and 2019 model years, "and the potential penalties on automakers, which are passed along to consumers, are expected to continue to increase." The Trump administration has used the widening gap between the emissions of automakers' U.S. fleets, which are skewing toward larger vehicles, and national vehicle CO2 emissions standards to bolster its case for freezing vehicle emissions and mileage standards at current levels through 2026. Environmental groups and regulators in California and other states are fighting against any rollback in standards, saying tough rules are needed to address climate change and reduce consumer outlays for fuel. NHTSA and the Environmental Protection Agency are working to finalize as early as next month a rewrite of the Obama administrationÂ’s fuel efficiency requirements, which call for sharp reductions in fleet-wide emissions by 2026. Fiat Chrysler is paying fines for the shortfall in its domestic passenger car fleet, which includes several front-wheel-drive Jeep and rear-drive Dodge SUVs and some sedans and muscle cars. The automaker killed its slow-selling domestic small and midsize sedans. After paying $77.3 million last year for a 2016 model year fuel-economy shortfall, a Fiat Chrysler spokesman confirmed Wednesday the company had received a letter on the 2017 penalty and has 60 days to pay the fine.

Big Black Friday discounts key to Chrysler 200 sales success

A lot of people go shopping for deals on TVs or computers around the holiday season, but it looks like some folks are finding some fantastic deals on cars too. Take the Chrysler 200 for example. The new sedan had a great November in terms of sales, and by Chrysler's numbers, it delivered 14,317 of them for the month, a 155 percent increase from the same month last year. It even beat the November 2013 sales of the old 200 and Dodge Avenger combined. However, a report from Daily Kanban based on TrueCar data suggests that the good month came at least in part from steep incentives. Based on 20,156 sales of the 200 from TrueCar's database, average transaction prices were about $2,500 to $4,000 under MSRP for all but the base LX front-wheel drive model. That one actually went for about $68 above the typical base price. Going by these numbers, most people could have bought nearly any trim cheaper than the listed price of the one above it. For example, the top C AWD averaged $27,423, less money than the stated MSRP of the lower-spec S AWD. TrueCar's website also shows 200 pricing dipping in the latter part of November and into early December. There's no doubt that the 200 had a stellar month for November. But these figures suggest that it might have come partially because buyers found stacks of money on 200 hoods, while out doing some holiday shopping. Related Video: