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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.

Off-roader plows through a deep bog like it was nothing

The Facebook page Jeeps With Attitude runs a weekly series called Too Deep Tuesday wherein they post videos of off-roaders running their rigs through bogs and mud holes of surprising depth and coming out the other side soggy but relatively unscathed. This week's video, in which a driver extracts a buried vehicle from the muddiest bog in the land, is the perfect mix of nutso bravery and off-road know-how. The video starts with the vehicle already sunk to its hood and listing to starboard in a deep, sticky bog. Slowly but surely, the vehicle creeps forward through the mud, pushing a heavy bow wave of muck and debris in front of it. Unlike other recent videos where jeep drivers lost their rides in the water and destroyed their expensive toys, this driver keeps his cool and with a steady foot on the accelerator and the help of a winch and a convenient tree, eventually emerges triumphant. What did he do right? Well, using the vehicle's winch to help pull the rig out of the mud was the big thing. Also, he kept his cool and, once committed, never hesitated or deviated from his chosen path. Gunning it blindly or backing up in that mess would have meant almost certain death for that vehicle, a lesson that the aforementioned Jeep drivers learned the hard way. Related Video: News Source: Facebook Weird Car News Jeep Driving Off-Road Vehicles Videos

What will Detroit do with the abandoned AMC headquarters?

As with so many other industrial and residential properties in Detroit, the former headquarters for the American Motors Corporation is having a hard time finding a reputable buyer. In October the Wayne County Treasurer held a tax foreclosure auction of 25,000 properties that included the AMC building, the starting bid being $500. Nicholas Casab won the building for $500, but the county voided the sale when Casab didn't pay the $232,000 in back property taxes. Detroit authorities haven't commented on the failed sale, but the city has until January 4 to decide if it wants to keep the building. If it doesn't want to hold onto it, the 1.5-million-square-foot property on 57 acres might be ceded to the Wayne County Land Bank Corporation. No matter who holds the deed come January 5, all anyone really wants is for someone to take possession of the building who will actually turn it into something useful and viable. The property opened in 1927 as a factory for the Kelvinator Corporation. Over the following decades, Kelvinator merged with the Nash Motor Company, and that merged entity merged with Hudson Motor Car Co, becoming American Motors. Chrysler took over the building in 1987 when it bought AMC, then shuttered it in 2009. The complex has produced refrigerators, Sikorsky helicopters, Jeeps, AMCs, and was used as an engineering center for Jeeps and other Chrysler products. Having been through several hands in the past six years, it is cited as part of the cycle of abandonment plaguing Detroit. Related Video: News Source: Detroit Free Press Government/Legal Chrysler Jeep Auctions Detroit amc