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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.

Viper fans are at the Nurburgring to reclaim production-car speed record

With the outgoing generation of the Viper, Dodge missed a fabulous opportunity to set another Nurburgring lap record. The company did it, twice, with the previous-generation Viper ACR, but never went back with the latest ACR, and it definitely won't now that the car is being discontinued. This is why a group of Viper fans began fundraising back in January to take ACRs to the 'Ring for one more shot at glory. And, right now, that group is in Germany preparing for the attempt. The team made it thanks to support from GoFundMe donors, and sponsorship from Kumho Tires and Prefix, a design and prototype company based in Michigan. They're using two Viper ACR GTS-R commemorative-edition cars, which are appropriate for competing track cars since they have the same white-with-blue-stripes color scheme as Dodge's old Viper GTS-R racecars. The cars are supplied from ViperExchange and BJ Motors and equipped with Kumho Ecsta V720 tires. According to the group's Facebook page, the team has been practicing since Wednesday, July 19. A video posted today highlighted that the only mechanical issue so far has been an overheating problem that was solved with a new thermostat. Each car is running a different suspension setup for practice - one soft, the other hard - and they'll adjust them as needed. The plan is that both cars will use the same setup on the record attempt. To claim the record without any argument will require beating the 6:45.9 time set by the Nio EP9 electric car. Right behind it is the Radical SR8LM, which is technically street-legal, but not really a street car. It set a time of 6:48. As for true street cars with gasoline engines, the target the Viper team will really want to beat is the Lamborghini Huracan Performante, which pulled off a time of 6:52. You can track the team's progress at its Facebook page. Related Video: Image Credit: Dodge Auto News Motorsports Dodge Coupe Performance Supercars dodge viper acr nio ep9

Stellantis expects to hit emissions target without Tesla's help

Franco-Italian carmaker Stellantis expects to achieve its European carbon dioxide (CO2) emissions targets this year without environmental credits bought from Tesla, its CEO said in an interview published on Tuesday. Stellantis was formed through the merger of France's PSA and Italy's FCA, which spent about 2 billion euros ($2.40 billion) to buy European and U.S. CO2 credits from electric vehicle maker Tesla over the 2019-2021 period. "With the electrical technology that PSA brought to Stellantis, we will autonomously meet carbon dioxide emission regulations as early as this year," Stellantis boss Carlos Tavares said in the interview with French weekly Le Point. "Thus, we will not need to call on European CO2 credits and FCA will no longer have to pool with Tesla or anyone." California-based Tesla earns credits for exceeding emissions and fuel economy standards and sells them to other automakers that fall short. European regulations require all car manufacturers to reduce CO2 emissions for private vehicles to an average of 95 grams per kilometer this year. A Stellantis spokesman said the company is in discussions with Tesla about the financial implications of the decision to stop the pooling agreement. "As a result of the combination of Groupe PSA and FCA, Stellantis will be in a position to achieve CO2 targets in Europe for 2021 without open passenger car pooling arrangements with other automakers," he added. Tesla's sales of environmental credits to rival automakers helped it to announce slightly better than expected first-quarter revenue this week. The next tightening of European regulations will soon be the subject of proposals from the European Commission. The 2030 target could be lowered to less than 43 grams/km. Related Video: Government/Legal Green Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM Tesla Citroen Peugeot Emissions Stellantis