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Chrysler earns $1.7B in 2012, revises product plans for US

Hot on the heels of Ford's earnings announcement for the year that was, Chrysler today reported a 2012 net income of $1.7 billion, up substantially from the comparatively minuscule $183 million profit earned in 2011 when it repaid its US government loans.
Chrysler's good year ended with an excellent fourth quarter that saw net income rise 68 percent from $225 million in 2011 to $378 million. Where are all those extra earnings coming from? Market share, which Chrysler saw increase to 11.4% last year on sales of 1.65 million vehicles. In fact, the Auburn Hills, MI-based automaker out-paced the industry's market growth of 13 percent last year with sales up 21 percent for the year.
The company also revealed an updated product plan for its Chrysler Group and Fiat brands that looks all the way out to 2016. It's an updated version of the plan introduced in 2009 shortly after Fiat took control of the American automaker, and includes such new additions as an Alfa Romeo model, likely the 4C, to be introduced in the US this year, as well five more Alfa models by 2016. Likewise, Fiat will be growing by an additional seven models in the coming few years.

Stellantis and LG launch joint venture for North American battery plant

Stellantis has struck a preliminary deal with battery maker LG Energy Solution (LGES) to produce battery cells and modules for North America, as the world's No. 4 automaker rolls out its 30 billion euro ($35 billion) electrification plan. Global automakers are investing billions of euros to accelerate a transition to low-emission mobility and prepare for a progressive phase-out of internal combustion engines. Stellantis and LGES's joint venture will produce battery cells and modules at a new facility with an annual capacity of 40 gigawatt hours (GWh), the two firms said on Monday. No financial details of the deal were provided. The plant is scheduled to start production by the first quarter of 2024, with groundbreaking expected in the second quarter of 2022, the companies said in their statement. Its location is under review and will be announced later. Stellantis, formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, has said it wants to secure more than 130 GWh of global battery capacity by 2025 and more than 260 GWh by 2030. The batteries produced under the deal will supply Stellantis' U.S., Canadian and Mexican assembly plants for installation in hybrid and fully electric vehicles, supporting its goal of e-vehicles making up more than 40% of its U.S. sales by 2030. The company, whose brands include Peugeot, Fiat, Opel and U.S. best-sellers Jeep and Ram, earlier this year announced it would invest more than 30 billion euros through 2025 on electrifying its vehicle lineup. Stellantis has said it would build three battery plants in Europe and two in North America, including at least one in the United States. Intesa Sanpaolo analyst Monica Bosio said the deal was positive, and a further step ahead in Stellantis' electrification process. It comes weeks after Stellantis and its partner TotalEnergies agreed to open up their battery cell joint venture ACC to Daimler, to expand their European sourcing of battery cells. Stellantis is also targeting more than 70% of sales in Europe to be of low-emission vehicles by 2030, and aims to make the total cost of owning an EV equal to that of a gasoline-powered model by 2026. Related video: Green Plants/Manufacturing Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall Electric Hybrid EV batteries LG

2020 Dodge Journey loses trims and colors, adds equipment

Update: A previous version of this article incorrectly stated that all-wheel-drive was available on the Journey. It has been discontinued for the 2020 model year. The text has been changed to reflect this. The 2020 Dodge Journey sticks with the formula that's served it for its entire 11-year lifespan so far, which is to say nothing more than incremental changes will usher in the new year. The lineup shrinks by half, the SE and GT trims going away, leaving the SE Value and Crossroad trims. The end of the Journey GT means the end of the 283-horsepower, 3.6-liter Pentastar V6 for the Journey, the two remaining models powered by the 2.4-liter four-cylinder with 172 horsepower and 165 pound-feet of torque shifting through a four-speed automatic. The SE Value sits on 17-inch steelies with wheel covers, the Crossroad rides on 19-inchers, and both models turn the front wheels only; the option of all-wheel drive has left the building. Both trims add new standard equipment, Rear Park Assist included on both, the Crossroad acquiring a sunroof. The color wheel for exterior hues loses two options, Destroyer Grey and Verde Oliva, leaving seven choices. The SE Value interior retains its choice of black or tan cloth, the Crossroads sticks with black only. SE Value and Crossroad will offer an option called the Popular Entertainment Group that installs different equipment depending on trim. For the SE Value, that will add a power driver seat, premium cloth seating, leather-wrapped steering wheel and shift knob, tri-zone temperature control, Uconnect Voice Command with Bluetooth, a 12-month subscription to SiriusXM Radio, interior observation mirror, and security alarm. On the Crossroad, the same package means navigation, heated front seats and steering wheel, six premium speakers and subwoofer, remote start, a universal garage door opener. Pricing hasn't been announced yet, but with the 11-year-old Journey selling itself as a value proposition — it's right there in the name — we don't expect much change from the $24,740 price of the 2019 SE Value.