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Fiat Chrysler posts record Q3 profit thanks to U.S. trucks and Jeep

MILAN — A rebound in car production in Fiat Chrysler on Wednesday reported record third-quarter earnings as production returned to nearly pre-pandemic levels. The Italian-American automaker, which is finalizing its full merger with French rival PSA Peugeot, reported a net profit in the three months ending Sept. 30 of $1.4 billion (1.2 billion euros). That compares with a loss of 179 million euros a year earlier. The carmaker reported adjusted earnings before tax and interest in North America of 2.5 billion euros. That offset deepening losses in Europe, Asia and at its Maserati luxury marquee. Latin America, the only other region to post a profit, saw it narrow by two-thirds to 46 million euros. “Our record results were driven by our teamÂ’s tremendous performance in North America,” CEO Mike Manley said in a statement. Overall, the carmaker said global earnings before tax and interest were a record 2.3 billion euros despite a 6% fall in revenues to 26 billion euros. Global shipments were down 3%, due largely to plant retooling in North American to produce the new Jeep Grand Wagoneer in the luxury SUV segment and the discontinuation of the Dodge Grand Caravan classic minivan. Fiat Chrysler announced earlier Wednesday that its merger with PSA Peugeot is on track to be finalized by the end of the first quarter of 2021, as planned. To meet regulatory concerns, the French carmaker is selling a small stake in a components maker to get below 40% ownership. The new automaker, to be called Stellantis, will be the fourth biggest producer in the world. Earnings/Financials Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

Maserati Levante crossover not Jeep based after all?

Maserati has been teasing its crossover project since 2011, which is when it first showed off the Kubang concept (pictured above). Still, the production version, rumored to be called the Levante, remains a complete mystery. The CUV was first rumored to borrow the platform from the Jeep Grand Cherokee, but new rumors indicate that the Italian, luxury crossover might actually take the underpinnings from the Quattroporte and Ghibli.
In a brief interview, Maserati CEO Harald Wester told CNN Money that the Levante wouldn't use Jeep's platform. Motor Trend spoke with an unnamed Maserati engineer who confirmed the rumor. Officially, the company says that no decision has been made.
We can add this to another long list of rumors about the Italian CUV. It was originally supposed to be built at Chrysler's Jefferson North assembly plant in Detroit. Then, plans were changed to build it in Italy.

Stop waiting for the official Wrangler pickup and buy one of the last AEV Brutes

We're eagerly anticipating the launch of Jeep's official pickup truck. If you have the means, though, you can have a Wrangler pickup right now. American Expedition Vehicles (AEV) still builds its Wrangler-based Brute Double Cab. But if you want one, you'll need to order it soon. This is the last year AEV will build the truck, and it will only take orders until March 31. There is a reason we mention needing the means to purchase one of these Brutes. They're really expensive. The conversion starts at $41,665. And that doesn't include the cost of the Wrangler Unlimited to be converted. You do get an impressive piece of kit for the money, though. AEV obviously adds the composite bed and lengthens the frame a total 39 inches to make it fit, but the company also adds a suspension lift, 35-inch tires, a Warn winch, skid plates, and off-road lights. AEV will even replace the standard 3.6-liter V6 with a 5.7- or 6.4-liter Hemi V8 if you want. Of course, that will obviously cost extra. If you're interested in placing an order, you can call 248-926-0256, or find dealer contact info at this link. If you can't afford one but still want to know more, you can check out our quick review. Our tester only had the 3.6-liter V6, but it was still pretty sweet. Related Video: