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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.

UPS employees band together to buy car for teen coworker

A young Alabama man got the surprise of a lifetime this week when his co-workers presented him with his very own car for his daily commute. According to the Daily Mail, 19-year-old Derrick Taylor started working at the Oxford, Alabama, UPS freight center a year and a half ago to support his ailing mother. With precious little money left over after bills and healthcare, Taylor had no money to afford a vehicle so he walked the five miles to and from work every day. Despite numerous offers of rides and loans, the young man was too proud to accept even the slightest help from his co-workers. Desperate to do something for him, Taylor's co-workers raised money in secret and bought him a used Jeep Cherokee off a local lot. 'This is a hard working young man. He makes me emotional. This young man wants to work so bad, he walks to work from way out of town," said James Williams, Taylor's safety instructor. "The group here, we've got some good news for you. Everybody came together and you don't have to walk no more. You've got your own ride. We want you to know we appreciate your hard work." Deeply moved, Taylor stood for a moment and wiped tears away before he walked over to check out the Jeep. "I was overwhelmed with joy. No one had ever done anything like that for me so it made me cry and I'm not really the type to show my emotions," he told the Daily Mail. Related Video: News Source: The Daily Mail Auto News Jeep SUV gift

Mahindra vs. FCA case rages on amid confusion from false reports

The Mahindra vs. FCA case is trucking on despite some reports from India that say otherwise. It was widely reported over the weekend that Mahindra had come out on the winning side of the U.S. International Trade Commission's investigation. However, that's not the case, and FCA says it expects a final decision to be made this month. Apparently, the reports used a brief filed by Mahindra that doesn't actually have any bearing on what the final decision in court is. The briefing was rather explicit in its language, but FCA released a similar brief following hearings. We'll list them both for you below. Mahindra: "FCA is contractually barred from pursuing this investigation if Mahindra's vehicles contain or use the approved grille design. The evidence shows that Mahindra's Roxor uses the approved grille design. Thus, the record supports a finding that Mahindra met its burden of proving by a preponderance of the evidence that FCA is contractually barred from pursuing this investigation." FCA: "Mahindra has failed to carry its burden in showing that all of FCA's claims fall under the narrow scope of the 2009 Agreement. The Investigation against Respondents should therefore proceed." These statements represent opinions of both companies, but not actual decisions made by the U.S. ITC. In case you were still wondering, this whole battle is about the Mahindra Roxor's front grille design. FCA says is looks too much like a Jeep, and is worried the Roxor will cut into Wrangler sales. The Mahindra Roxor isn't road-legal, which would make it difficult to steal actual Jeep sales from FCA, and there was also an agreement signed in 2009 between the two companies related to this issue. FCA agreed then not to bring about infringement claims against Mahindra as long as it used a grille design that differs from the classic Jeep trademark grille FCA approved of. One could argue Mahindra's grille is different than Jeep's design because it only has five slats instead of seven, but it sure does look a lot like an old Willys. It will be another month before official word is out on this case, and we'll be following to see whether Mahindra will be allowed to sell its fun, diesel off-roader in the U.S. Related video: