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Chrysler nets $1.6B income in Q4, Fiat profit up 5%

Chrysler announced its 2013 financial results today and unveiled its new name and decidedly bank-like logo. Amid the announcement, Chrysler posted big gains in income, while Fiat didn't perform to analysts' expectations.
For 2013, Chrysler had revenue of $72.1 billion, up 10 percent from 2012. Net income reached $2.8 billion, a 65-percent increase. It was the company's third straight year of annual profits.
In terms of unit sales, Chrysler sold 2.4 million cars worldwide in 2013, up 9 percent. According to Automotive News, 1.8 million of those vehicles were sold in the US, a 14-percent increase. The sales growth boosted Chrysler's US market share to 11.4 percent, up 0.2 percent.

FCA to idle Belvidere Jeep plant again for a week in February

Bloomberg reports that Fiat Chrysler will shut down the Belvidere, Ill., plant that assembles the Jeep Cherokee for a week this month, starting February 17. FCA has been tweaking the plant's headcount and production schedule for a while now, usually downward. The automaker laid off 1,371 workers last February and fired 32 more in May, the same month it eliminated the third production shift. In August, the automaker shut down the plant for one week, then did so again for two weeks last month. As in August and January, FCA explained this month's idling by saying it needs to get production in alignment with demand. Cherokee sales declined 20% in the U.S. last year, helping to account for Jeep's overall 5% domestic drop in 2019. On top of the shutdown, FCA is offering buyouts to certain plant workers among the 3,600 hourly and 300 salaried personnel. The choices are either taking a "separation package" that comes with a $60,000 lump sum payment, or accepting voluntary termination that pays a lump sum based on seniority. Employees that choose a buyout can't return to Chrysler, becoming no longer "eligible for recall, rehire or reemployment." Belvidere personnel have until March 11 to make their decisions. Bloomberg says the aim is to reduce the number of workers with more seniority and higher pay grades; a company spokesperson said the move would "create opportunities for those employees still on layoff," who were lesser-paid. Around 900 of those laid-off workers remain on standby for reassignment to another plant. Analysts predict a soft year for car sales, so FCA might not be the only automaker pruning the rolls. Early estimates have come in below 17 million, and if that comes true, 2020 will be the slowest year since 2014, when 16,531,070 units left lots. The new contract between FCA and the UAW made provisions for Belvidere, which has tempered talk of a total shutdown.The automaker will invest $55 million for "fresh models/features off of the current (KL) platform" that underpins the Cherokee as well as the Chinese-market Jeep Grand Commander (it was previously used for the Dodge Dart and Chrysler 200). Outside of that, some observers think the carmaker could be planning a three-row Chrysler crossover based on the KL platform, akin to the Grand Commander, for the United States. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Jeep Wrangler-based Scrambler pickup will have open tops, longer frame

We'll probably have to wait until 2019 to see the Wrangler pickup fully revealed and on dealer lots, but it seems that the truck is already showing up in FCA's computer systems. Someone at Jeep Scrambler Forum did a little digging and found the truck's chassis code, "JT," listed with a number of parts. Among those parts were different tops, seemingly confirming that the Wrangler pickup will have a soft folding top and removable hardtops available, just like a normal Wrangler. These include the plain black soft top, a black hard top, or a body-color hard top. The hard tops are also listed as three-piece units like on a conventional Wrangler, so parts can be removed, or the entire top. The forum quotes sources as saying the pickup will be called the Jeep Scrambler. The company renewed the trademark on that model name in 2015. The forum discovered a few other mechanical details, too. The truck's code is listed under the diesel engine option, confirming that powertrain for the pickup, though no other engine or transmission info was found. The forum also found CAD models of the frame and axles. Jeep Scrambler Forum estimates the frame is about 33 inches longer than the upcoming Wrangler Unlimited four-door SUV. This isn't entirely surprising, as photos show that the Wrangler pickup prototypes are substantially longer than the four-door Unlimited models. And even AEV had to lengthen the Wrangler's frame to turn it into the Brute pickup. Finally, the forum noted that the axles are different from the current generation of Wrangler, and could possibly be stronger than normal for improved towing and payload. Related Video: Related Gallery 2019 Jeep Wrangler Pickup Spy Shots View 14 Photos News Source: Jeep Scrambler ForumImage Credit: Jeep Scrambler Forum Rumormill Jeep Truck Off-Road Vehicles jeep wrangler pickup