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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

UAW workers strike at Stellantis casting plant in Indiana

DETROIT — United Auto Workers union members went on strike Saturday at the Stellantis casting plant in Indiana, citing health and safety issues including the company's alleged refusal to repair and replace the plantÂ’s air conditioning and heating systems. The 35-acre plant in Kokomo makes parts used in the powertrains of Chrysler, Dodge, Jeep and RAM vehicles and a long-term strike could affect vehicle assembly lines across North America. Stellantis says production had not been scheduled for this weekend and it hoped to resume negotiations as soon as possible on a contract with striking UAW Local 1166. In a statement, Stellantis said it was committed “to providing a safe and healthy work environment for all employees. After bargaining in good faith for two days and presenting an offer we believed addressed the unionÂ’s concerns, we are disappointed by the UAWÂ’s decision to walk out.” The 1,200-worker plant, Kokomo Casting, is the world's largest die cast facility, according to Stellantis. It makes aluminum parts for components including transmissions and engine blocks. The UAW local complained in a statement that Stellantis “claims it has no money to meet its membership's basic needs while ”making record profits and investing billions in a new battery plant across the street." UAW local president David Willis did not immediately return a phone call seeking comment. A person who answered the phone at union offices said he was preparing for a resumption in negotiations. The casting plant is to be retooled to produce engine blocks for hybrid-electric vehicles. In May, Stellantis announced a $2.5 billion joint venture with Samsung to build an electric vehicle battery factory in Kokomo that is to employ 1,400 workers. Stellantis, formed last year with the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, had said it would build two electric vehicle battery factories in North America. The other is slated for Windsor, Ontario. Plants/Manufacturing UAW/Unions Chrysler Dodge Jeep RAM

2023 New York Auto Show Mega Photo Gallery: See all the new cars from the show

The 2023 New York Auto Show was a rather lively show full of North American vehicle debuts and a lot of new metal we’ve never seen before. As always, we were on the ground covering it from every angle for you, including photographing all the reveals on the show floor. There were a ton of new EVs shown and even a stunning concept with the Genesis GV80 Coupe Concept. YouÂ’ll be able to see them all, from the production Ram REV to the little (but now much bigger) Kona, in the numerous galleries below.   2024 Kia EV9 2024 Kia EV9 View 7 Photos 2024 Kia EV9 GT-Line 2024 Kia EV9 GT-Line View 5 Photos 2025 Ram REV 2025 Ram 1500 REV View 6 Photos Genesis GV80 Coupe Concept Genesis GV80 Coupe Concept View 9 Photos 2024 Hyundai Kona Electric, N Line and Limited 2024 Hyundai Kona Electric View 21 Photos 2024 Jeep Wrangler 2024 Jeep Wrangler 4xe View 22 Photos 2024 Subaru Crosstrek Wilderness 2024 Subaru Crosstrek Wilderness View 14 Photos 2024 VW Atlas Peak Edition 2024 VW Atlas Peak Edition View 7 Photos Hyundai Ioniq 5 Disney100 Platinum Concept Hyundai Ioniq 5 Disney100 Platinum Concept View 9 Photos   Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Genesis GV80 Coupe Concept is coming to reality