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Ram and Jeep Wrangler drive Fiat Chrysler profits up 61 percent

MILAN — Italian American automaker Fiat Chrysler says fourth-quarter net profits rose by 61 percent, powered by North American sales of the all-new Ram 1500 and Jeep Wrangler. Fiat Chrysler Automobiles on Thursday reported quarterly net profits of 1.29 billion euros ($1.46 billion), compared with 804 million euros in 2017. Revenues rose 6 percent to 30.6 billion euros. North America profits grew by 19 percent to 6.2 billion euros, accounting for the lion's share of the automaker's global profits. The carmaker continued to have trouble in Asia, which swung to a loss due to market weakness in China and more competition in Fiat Chrysler's core SUV market. Europe also lost ground, with profits dipping 44 percent on lower shipments and weaker pricing, while Latin America more than doubled. Based on the company's earnings last year, 44,000 unionized U.S. auto workers will get $6,000 profit-sharing checks. That's $500 more than in 2017, but smaller than U.S. rivals Ford and General Motors. On Wednesday, GM announced that workers would get $10,750, while Ford workers will get $7,600.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Jeep sets all-time sales record in 2012

Last year was good to Jeep. Chrysler has announced its trail-rated brand set an all-time global sales record in 2012 by moving 701,626 units. That number easily surpasses the previous record set in 1999 when Jeep sold 675,494 models. All told, the brand saw a 19-percent sales increase worldwide over 2011, and much of that swell can be traced directly to the Wrangler. While the Grand Cherokee led Jeep sales, the Wrangler posted record numbers both globally and within the US, moving 194,142 and 141,669 units in each market, respectively.
Meanwhile, the Compass beat its previous global sales record with 103,321 units rolling off of dealer lots. In the US, Jeep sold 62,010 Patriot units, breaking that model's previous record as well. Jeep's impressive performance in 2012 marks the second year in a row the brand has seen double-digit percentage sales increases. Check out the full press release below.

Stellantis and Foxconn's new joint venture will focus on connectivity

MILAN — Carmaker Stellantis and TaiwanÂ’s Foxconn announced plans to develop a jointly operated automotive supplier focusing on technology to make vehicles more connected, including artificial intelligence-based applications and 5G communications. Stellantis CEO Carlos Tavares said the services that will be developed through the tie-up “will mark the next great evolution of our industry,” alongside fully electrified and hybrid powertrains. The deal brings together Stellantis, the worldÂ’s 4th-largest automaker formed this year by the merger of Fiat Chrysler Automobiles and PSA Peugeot, and Foxconn, a major supplier of iPhones. The companies said the venture would focus on such services as infotainment, the integration of telecommunications and computer systems, artificial intelligence-based applications, 5G communications, e-commerce channels and smart cockpit integration. The companies announced a non-binding memorandum of understanding to form a 50-50 joint venture called Mobile Drive, which will be based in the Netherlands and function as an automotive supplier also to other carmakers. The new venture will combine advanced consumer electronics, Human-Machine Interfaces (HMI) to create new services “that will exceed customer expectations,” the companies said in a release. “Customers today and, in the future, demand and expect ever-increasing software-driven and creative solutions to connect the drivers and passengers with the vehicle inside and out,Â’Â’ Foxconn Chairman Young Liu. Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot 5g Connectivity Stellantis Foxconn