2014 Jeep Compass Low Miles Sport on 2040-cars

Auto blog

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.

Fiat Chrysler halts European production as coronavirus hits demand

MILAN — Fiat Chrysler Automobiles (FCA) is halting production for two weeks at most of its European plants to help protect staff against the coronavirus pandemic and adjust to a slump in demand, the Italian-American carmaker said on Monday. Italy has been the European country worst hit by the crisis and the first to enforce a nationwide lockdown, which has now been replicated by Spain and, to a lesser extent, by France as the virus sweeps through the continent. With all non essential services closed, including car dealers, and people forced home except for strict working needs, many forecast a heavy fall in car sales in March. FCA — which according to analyst estimates produces around 25% of its vehicles in Europe — said the suspensions through March 27 would allow it "to effectively respond to the interruption in market demand by ensuring the optimization of supply." Ferrari, meanwhile, said it closed its two plants until March 27. Ferrari said it had so far ensured production continuity, and it already implemented all the health measures decided by the Italian government at the two sites, in hometown Maranello and in Modena. But it was "now experiencing the first serious supply chain issues, which no longer allow for continued production." Marco Opipari, an analyst at Fidentiis, said a few weeks of closures was not a big problem in an over-supplied European auto industry and lost production could be recovered later on. "The real problem is on the demand side, people are not buying cars now, and sales volumes are expected to be very bad in March, with a real impact on automakers' earnings," he said. FCA said in a statement that production for its FCA Italy and luxury Maserati units would stop for two weeks, extending a temporary closure period already planned for some Italian facilities. Affected plants are Melfi, Pomigliano, Cassino, Mirafiori, Grugliasco and Modena in Italy, Kragujevac in Serbia and Tychy in Poland. The FIOM union said FCA's decision was "necessary". The carmaker said the freeze would help it to resume activity promptly once market conditions allow it. "The group is working with its supply base and business partners to be ready to enable our manufacturing operations to deliver previously planned total levels of production despite the suspension when market demand returns," it said.

Dodge revamping lineup with AWD Challenger and lighter Charger

Dodge's current lineup is aging rapidly. The Charger, for example, is going on 5 years old but its platform dates back to 2006. FCA, according to Automotive News, is working on revitalizing Dodge's lineup with the first of some new models debuting later this year. The report reveals plans for the majority of FCA's brands, but the most interesting bit of information is an all-wheel-drive model for the Dodge Challenger, which is being referred to as the GT AWD. Mopar unveiled the Challenger GT AWD Concept at SEMA last year as a concept, but it looks like the idea stuck. The vehicle is set to make its debut this fall and will lead the way for a wide-body, Hellcat-powered version that will be released in 2017. That model will be called the Challenger ADR. The entire Challenger lineup will be redesigned in 2018, which includes switching over to the lighter Giorgio platform - the same one that underpins the Alfa Romeo Guilia Dodge will also redesign the Charger to accommodate the new Giorgio platform in 2018. A new two-door convertible could debut in 2021, resurrecting the Barracuda moniker. The aging Dodge Durango will get a light refresh in 2017 with the addition of an SRT model, which Automotive News reports will feature a 6.4-liter V8 engine. Other changes are in store for other FCA brands, including the debut of full-size crossover in 2018 for Chrysler, which will be followed by a midsize crossover in 2019. The Jeep Compass and Wrangler will get a redesign for 2017, with the Cherokee getting a light makeover, as well. The Wrangler-based pickup truck, which we recently spotted testing, is set for its debut in 2018, while the Wagoneer will come out a year later. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.