2001 Jeep Cherokee Sport 4wd Suv 4.0l on 2040-cars

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Fiat Chrysler profit up as it closes in on retiring its debt

MILAN — Fiat Chrysler Automobiles reduced its debt by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. Chief Executive Sergio Marchionne expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros ($5 billion) in net cash by the end of the year. Marchionne has said that forecast does not include any one-off measures, nor the impact of the planned spinoff of parts maker Magneti Marelli, which he hopes to execute by early 2019. The world's seventh-largest carmaker said on Thursday net debt had fallen to 1.3 billion euros ($1.6 billion) by the end of March, well below a consensus forecast of 2.6 billion euros in a Thomson Reuters poll of analysts. FCA said capital spending fell 900 million euros in the quarter due to "program timing," which analysts said implied higher investments for the rest of the year. The Italian-American group said first-quarter operating profit rose 5 percent to 1.61 billion euros, below a consensus forecast of 1.74 billion, as a weaker performance from its North American profit center weighed. Shipments there were higher due to the new Jeep Wrangler and Compass models. But currency moves hit revenues and earnings, and costs related to new product launches added to the pressure. FCA's shift to sell more trucks and SUVs boosted margins yet again in North America to 7.4 percent from 7.3 percent in the same quarter a year ago, although they were down from the 8 percent recorded in the preceding three months. Marchionne, preparing to hand over to an internal successor next year, is close to his goal of ending a margin gap with larger U.S. rivals General Motors and Ford. The 65-year-old has said becoming debt free and being able to compete on a par with U.S. peers would mean FCA no longer needed a partner to survive and could well succeed on its own. The CEO has previously said tying up with another carmaker would help to meet the huge costs in an industry investing in electric vehicles and automated driving. FCA shares fell immediately after the results, but recovered to trade up 3 percent at 19.71 euros by 1150 GMT, outperforming a 0.4 percent rise in Europe's blue-chip stock index. ($1 = 0.8214 euros) Reporting by Agnieszka FlakRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Chrysler delays 2014 Jeep Cherokee media launch

Chrysler is making the unusual move of delaying the first media drives of the 2014 Jeep Cherokee, which were slated to start next week in Seattle. And while something like this is a rare occurrence, and one that most of the Autoblog staff can't recall happening this publicly or so close to the event itself, it won't effect the actual on-sale date of the new Cherokee, which is set to hit showrooms in September.
"Over the last couple of weeks during final quality and durability testing, we have discovered the opportunity to further improve powertrain calibration," Chrysler told Automotive News. This marks the second notable delay in the Cherokee's short life, after production was delayed for roughly a month earlier this summer.
Still, we'd rather Chrysler make sure the Cherokee is ready for primetime before flying media in from around the country. It shows a willingness to get things right the first time, rather than offering media drives and then tweaking the car after the fact.

Jeep beefs up the Wrangler Rubicon with 2017 Recon Edition hardware

The Wrangler Rubicon Hard Rock is dead. Don't worry; the 2017 Rubicon Recon is heading to showrooms soon to take its place, and judging by what it's packing you'll hardly miss the Hard Rock. Essentially, this is a Rubicon with some beefed-up bits underneath and a few special cosmetic tweaks, a bit like the outgoing Hard Rock. Up front, there's a stronger Dana 44 with strengthened tubes and heavy-duty end forgings. Likewise, the front and rear differentials get stronger cast covers than the Hard Rock's stamped ones. The ratios are the same, with 4.10:1 front and rear ratios, Tru-Lok locking diffs, and a Rock-Trac transfer case. There's also a half-inch lift. Cosmetically, there are new 17-inch wheels exclusive to the Recon equipped with 32-inch BF Goodrich KM tires, and the rock rails have been reshaped to allow owners to fit 35-inch tires without interference. The Recon also adds red seatbelts and stitching, something you haven't been able to get in a Wrangler before, a Jeep rep told us. If that's what you were waiting for to get into a Wrangler Rubicon, well, there you go. There's also the special-edition farkles you'd expect: a dashboard plaque the fender badge, and a unique gauge cluster treatment. The two-door Recon will start at $40,140 and the four door at $43,940 – that's compared to the base Rubicon, which starts at $34,190 in two-door form. So, the Recon represents a nearly $6,000 premium over the base Rubicon and a $1,150 premium over the outgoing Hard Rock. It'll be available in dealers at the end of this month. Related Video: