1988 Chrsyler Lebaron Convertible on 2040-cars

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Fiat Chrysler cuts 2018 outlook, shares tumble on weaker quarterly profit

MILAN — The news of former Fiat Chrysler chief executive Sergio Marchionne's death arrived Wednesday moments before the group reported a surprisingly heavy drop in profit. The death of one of the auto industry's most tenacious and respected CEOs overshadowed a big selloff in Fiat Chrysler shares. FCA's scheduled second-quarter earnings presentation, led by Marchionne's successor and former lieutenant Mike Manley, began on Wednesday afternoon with a moment of silence. As eulogies flooded in, FCA shares fell as much as 10 percent as investors digested an unexpected 35 percent fall in net profit, well below market forecasts. Marchionne rescued Fiat and Chrysler from bankruptcy after taking the wheel of the Italian carmaker in 2004 and he multiplied Fiat's value 11 times through 14 years of canny dealmaking. He was due to step down at FCA in April next year. "The best way to honor his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was the most ardent champion," Chairman John Elkann added. On Saturday, FCA named Jeep division head Mike Manley, 54, as head of the world's seventh-largest carmaker, saying the Briton would execute a strategy that Marchionne had outlined in June. FCA has said Manley will work to ensure a "strong and independent" future for the group. Underlining the task facing Manley, FCA cut its full-year earnings outlook after the weaker-than-expected quarterly earnings. Having to deliver the bad news four days into his new job, Manley blamed the result on a weaker performance in China, a market that represents one of new CEO's immediate headaches. "The biggest challenges we face and frankly we're going to continue to face ... are all focused in China," Manley said. FCA has yet to make any significant inroads in China. In Marchionne's June plan, FCA pledged to boost production of sport utility vehicles and invest in electric and hybrid cars to double operating profit by 2022. It unveiled bold targets for Jeep, FCA's profit engine. FCA said adjusted earnings before interest and tax (EBIT) for the April-June period fell 11 percent to 1.7 billion euros ($1.99 billion), compared with 2 billion euros in a Reuters poll of analysts. Chinese demand slumped in the quarter ahead of a July cut in import duties, resulting in higher incentive spending and an increase in unsold vehicle stocks that "particularly affected Maserati," Manley said.

1986 Chrysler LeBaron owned by Lee Iacocca to cross the auction block

Enthusiasts will have the opportunity to bid on an overlooked piece of Chrysler history during the huge Bonhams auction taking place in Scottsdale, Arizona, on January 16. Offered without reserve, this LeBaron Town & Country Convertible was first registered to former Chrysler boss Lee Iacocca, and it has covered only 20,500 miles since. The LeBaron Town & Country shares its K platform with numerous Chrysler, Dodge, and Plymouth models built between 1981 and 1989. Nearly every nameplate built on it was mass produced and mass destroyed, but this wood-sided droptop is a rare exception. It's one of 1,105 examples built, and its connection to the man who saved Chrysler (and helped create the original Ford Mustang, the infamous Pinto, and Chrysler's first minivans, among many others) likely helped it reach its 34th birthday in like-new condition, a fate a majority of Ks could only dream of from the wrong side of the Pick-N-Pull fence. Bonhams stated the Town & Country comes from Iacocca's personal collection. The auction house doesn't mention how long the influential executive owned it for, or how many miles he put on it. What's certain is that Iacocca undoubtedly knew there was nothing exhilarating about the 97-horsepower engine that came standard in the LeBaron, so he paid extra for a turbocharged version of the fuel-injected, 2.2-liter four-cylinder that put 146 horses under his right foot. It spun the front wheels via a three-speed automatic transmission.  Our archives indicate Chrysler charged $17,595 for the Town & Country Convertible in 1986, and priced the turbo four at $628, figures that represent about $42,300 and $1,500, respectively, in 2020. While Chrysler's K-based cars haven't set the collector world on fire yet, Bonhams expects this exceptionally clean example will sell for anywhere between $20,000 and $25,000 when it crosses the auction block in sunny Scottsdale. To quote Iacocca, "if you can find a better car, buy it." Or, if you're into faster Mopar products, his personal, 6,500-mile Dodge Viper — the very first regular-production example made — will also cross the block in Arizona. Featured Gallery Lee Iacocca's 1986 Chrysler LeBaron Town & Country Convertible (high-res) View 21 Photos Chrysler Auctions Convertible Classics

Chrysler Pacifica-based crossover SUV coming soon

Chrysler is finally going to get another vehicle to support its minuscule lineup. According to Motor Trend, Fiat-Chrysler CEO Sergio Marchionne said that the company has a three-row crossover based on Chrysler's Pacifica minivan ready to go in as little as 18 months. Moving past the irony that Chrysler repurposed the old Pacifica crossover's name for a minivan, only for that very van to yield a new crossover, this is a vital vehicle for Chrysler that offers some interesting possibilities. Firstly, as we just mentioned, Chrysler hardly has anything in its lineup right now. With the departure of the 200, it was left with the 300 and the Pacifica. Both are perfectly fine machines, and we especially like the Pacifica, but they didn't leave the brand with much breadth for people who wanted something that wasn't a large sedan or a minivan. Both of those segments are giving up market share to crossovers, so a Pacifica-based crossover, one with three rows, will be beneficial beyond just offering another model, but also offering one that is more broadly popular, especially as more companies including Subaru and Volkswagen expand into the large three-row segment. The Pacifica platform also offers some unique opportunities for this upcoming Chrysler crossover. Using such a space-efficient starting point could give this Chrysler class-leading passenger and cargo space. Most interesting to consider, though, is the possibility of a plug-in hybrid. With the heavy lifting done during the Pacifica's development, it shouldn't be too difficult to adapt the PHEV powertrain to the new crossover. Shockingly, plug-in crossovers have only been tried by luxury brands and Mitsubishi, the latter with the Outlander PHEV. So this Chrysler could be in a class of its own by offering a larger PHEV than Outlander, but at a better price than the luxury automakers. As such, we're quite interested to see how this crossover turns out. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.