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Stellantis expects strike to cost it $795 million in third-quarter profits

MILAN — Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. The net revenue boost was due to higher volumes in all markets except Asia. Chief Financial Officer Natalie Knight told journalists that StellantisÂ’ strike impact was lower than the other Big Three automakers due to its global profile as well as some high-profile cost-cutting measures, calculating the hit at around 750 million euros ($795 million.) GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. Ford has put its impact at $1.3 billion. “We continue to be in a very strong position globally and in the U.S. This is an important market for us, and weÂ’re highly profitable and we are very committed to our future," Knight said. “But mitigation is core to how we act, and how we proceed.” Stellantis has canceled appearances at the CES technology show in Las Vegas next year as well as the LA Auto Show, due to the strike impact. Stellantis on Saturday reached a tentative agreement with the United Auto Workers Union to end a six-week strike by more than 14,000 workers at its assembly plants in Michigan and Ohio, and at parts warehouses across the nation. Stellantis does not report full earnings for the third quarter, instead providing shipments and revenues. It said that global sales of electric vehicles rose by 37% over a year earlier, powered by the Jeep Avenger and commercial vehicle sales. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%. Related video: Earnings/Financials UAW/Unions Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM

China orders Jeep to investigate Wrangler fire risk

It's been some time since we've heard anything about fires related to the Jeep Wrangler (foreign or domestic), but it sounds like the go-anywhere SUV could be in hot water once again in China. Bloomberg is reporting that the Chinese government is ordering Jeep to investigate the matter and, in the meantime, also recommending Wrangler owners to not drive their vehicles in "extreme conditions" due to a "relatively high risk" of catching on fire.
There is no indication as to how many vehicles or which model years are affected, but the previous fire problems in both the US and China - which led to investigations but no recalls - were traced back to automatic transmission fluid leaks. The article, however, does not say what the potential problem is this time around as Jeep has not released a comment on the matter. The official notice, in Chinese, can be found here.

Jeep Wrangler pickup renderings: Latest imaginings of the Scrambler

The Jeep Wrangler-based JT pickup, which everybody refers to as Scrambler (boy, we're sure going to be surprised if that isn't the real name), doesn't hit the showroom floor until April 2019. That is a long time to wait. What's an impatient nation of Jeep fans to do in the intervening year? Speculate on what it looks like, of course. Jeep Scrambler Forum has sent renderings of the truck our way, shown in the photo gallery above. They depict the Scrambler in two scenes and in four classic colors: Sarge Green, Hella Yella, Sting-Gray and Firecracker Red. The illustrations, we're told, are based on "spy photos, CAD leaks and insider tips we've received." View 7 Photos Like the coming Ford Ranger, the Jeep truck stands to make a huge splash in the hot midsize pickup market, with Fiat-Chrysler CEO Sergio Marchionne saying he expects to see 100,000 Wrangler pickups sold each year. Compare these latest renderings with a set of renderings that ran back in June on JL Wrangler Forums. (We're reprising a gallery of them below, along with a gallery of spy shots.) You'll note some differences between them and the latest renderings, a key one being the seeming absence of that kink (Jeepmeister kink?) where truck cab meets bed. See what other differences you can spot. It'll be a good way to help pass the time until next April. Jeep Wrangler Pickup View 14 Photos View 21 Photos Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.