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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

Ralph Gilles responds to Dodge rumors, says brand is 'here to stay'

This is why we love Ralph Gilles. While in Italy hanging out with a group of Viper Club members in Europe, the SRT boss took the time to respond to a question directed at him on Instagram in regards to the future of Dodge.
Recent reports have painted a bleak picture for Dodge, but Gilles defended Chrysler's full-line brand by stating that the rumors are, "all rumors, Dodge is here to stay! It may get more focused going forward but not killed!" The idea of a "more focused" Dodge brand could lend some credibility to reports that the Grand Caravan and Durango are on their way out, which would leave Dodge solely as a car, or car-based, automaker.

The Dodge Challenger plays its trump card: all-wheel drive

Perennially stuck in third place behind the Ford Mustang and Chevy Camaro in sales and enthusiast comparisons, the Dodge Challenger is doing something unconventional for a muscle couple. It's adding all-wheel drive. It's a new feature for Detroit's pony cars – none of the three have ever had it – and it could be a game-changer. Called the Challenger GT, the Dodge launches this winter for a starting price of $34,490. The Challenger GT comes with the Pentastar 3.6-liter V6 rated at 305 horsepower and 268 pound-feet of torque. It teams with an eight-speed TorqueFlight automatic transmission and is estimated to get 18 miles per gallon in the city and 27 mpg on the highway. An FCA spokesperson said no manual transmission or V8 models will be offered on the all-wheel-drive Challenger. It will be on display in January at the Detroit auto show. View 8 Photos All-wheel drive is a widely expected addition for the Challenger. The coupe shares underpinnings with the four-door Charger, which offers an all-wheel drive variant and the cars have similar powertrain offerings (the AWD Charger is also V6 and automatic only). Naturally, the Challenger borrows the Charger's AWD system and during regular driving conditions, the front axle disengages and full torque goes to the back wheels, allowing the Challenger to function as a rear-wheel drive car. It automatically goes back to AWD when more traction is needed. Handling is also fortified with a vehicle dynamic control system. Conversely, the electronic stability control has three modes and can be switched off for drift-happy enthusiasts. The GT has features familiar to other Challenger and Dodge owners, including an 8.4-inch touchscreen radio, Performance Pages (accessible through the Super Trak Pack button), and paddle shifters. A Sport Mode changes shift points to improve acceleration. It all rolls on 19-inch wheels wrapped in all-season rubber. The exterior gets a hood bulge, LED head- and taillights, and a decklid spoiler. The Challenger GT also offers a $995-interior package different than RWD models, adding Nappa leather, Alcantara suede seats, a nine-speaker Alpine audio system, performance steering wheel, and more. All of that is just window dressing. It's all-wheel drive that could be a difference-maker for consumers. The Challenger won't likely be able to take down the Mustang, which will finish 2016 as the pony car sales king.