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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

Jeep to stop using bad Takata airbag inflators next week

FCA is gradually ceasing to produce vehicles equipped with Takata airbag inflaters found to be inherently faulty. These airbags, which lack a certain drying agent, have been linked with dangerous premature ruptures. According to FCA, the only vehicle still in production with the named airbag is the 2016 Jeep Wrangler, and in this case they are passenger-side airbags. Fiat Chrysler says it isn't aware of any incidents involving these air bag inflaters in Jeeps, but amidst concerns that vehicles with failure-prone airbags are still being marketed to customers, North American-market 2016 Wranglers will cease to be equipped with them starting next week. As per FCA's statement, global production is expected to end by mid-September. In addition to Toledo, Ohio, the Wrangler is produced in Egypt. FCA isn't going to sell the cars with the deemed-faulty airbags without disclosing the fact to the customers: anyone buying a 2016 Wrangler will be notified that the vehicle will most likely be subject to a recall in the future, even if there is not currently a recall announced for them. NHTSA has specified a "Coordinated Remedy Program" recall schedule for the coming years, and the airbag inflaters will degrade over a time frame of several years, when subjected to a humid environment. Related Video: News Source: Fiat Chrysler Automobiles, The Wall Street JournalImage Credit: Julien Amado / Autoblog Quebec Plants/Manufacturing Recalls Chrysler Jeep Ownership Safety Takata airbag recall

Recharge Wrap-up: Fiat 500X EV spotted? Senators request biodiesel increase

A group of 32 senators is asking the EPA to approve increased biodiesel volumes in the Renewable Fuel Standard. Delays in approving the RFS for 2014 forward is causing problems for the fuel produces affected by the law. "EPA's delays are endangering our industry," says Imperium Renewables CEO John Plaza. "Biofuel facilities around the nation are sitting idle, workers are being laid off, and some producers have been forced out of business entirely." Producers feel the EPA is underestimating domestic biodiesel production, and are concerned about importing fuel from Argentina. Read more in the press release below. Fiat Chrysler will help Israel develop a natural gas vehicle. The automaker, along with Iveco and Magneti Marelli, signed a memorandum of understanding with Israel's Prime Minister's Office as part of the Israel Fuel Choices Initiative. They are also considering extended research and development relationship with Israeli companies for alternative fuels and smart mobility. Israel seeks to become a hub for alternative fuel technology. Read more at Hybrid Cars. Spy photos suggest Fiat might build an electric 500X as a compliance car for California. The photos, sent by a reader to Green Car Reports, show a camouflaged Fiat 500X that appears to lack a tailpipe, suggesting it could be an EV. It was photographed on its way to Chrysler's SRT Engineering Center, which builds specialized, low-volume vehicles. The gas-powered 500X debuted in North America at the Los Angeles Auto Show last fall, so camouflage seems a bit unusual at this point if it's just a standard powertrain. It's possible the car could be sold mainly in California to comply with the state's zero-emissions requirements for automakers. Read more and see the photos at Green Car Reports. 32 U.S. Senators urge EPA to approve increased biodiesel volumes Imperium Renewables applauds Senators' action SEATTLE, Feb. 9, 2015 /PRNewswire/ -- A bipartisan group of 32 U.S. senators, including Washington state's Patty Murray and Maria Cantwell, is calling on the Environmental Protection Agency to move quickly in approving strong biodiesel volumes under the nation's Renewable Fuel Standards. The senators expressed concern about the agency's delays in implementing the RFS standards for 2014, 2015 and 2016, noting that the delays have created tremendous uncertainty for the U.S.