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Marchionne may stay with FCA until 2020

We might get to see Sergio Marchionne and his vast array of sweaters in the auto industry for even longer than expected. The FCA CEO suggested last year that he would retire from the automaker when its current five-year plan was complete in 2018. Now, he has tentatively extended that point out to at least 2020. "I can do this for another five years if you push me, right? Beyond that, I ain't gonna do it, and I don't want to," he said to Automotive News. That would give Marchionne a 16-year career at the top from joining Fiat in 2004 to possibly leaving FCA in 2020. Although, take the CEO's statement with a grain of salt because he has made multiple statements about the timing for his retirement. In 2012, Marchionne said he would only remain in charge until 2015, which is, well, now. Those five years might also go quite quickly because Marchionne is a busy guy with the Ferrari IPO, the attempted merger with General Motors, implementing FCA's five-year plan, and many other projects. He's already considering the next CEO, though. "My purpose in life is to find the Kuniskises of the world, the Manleys, the Biglands, the Palmers," Marchionne said to Automotive News, referencing the heads at Dodge, Jeep, FCA North America, and the company's chief financial officer, respectively. "I told them, 'One of you is going to do what I do one day. I don't know who that is, but one of you is going to do it.'" News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Chrysler Dodge Fiat Jeep Sergio Marchionne FCA fca us Mike Manley reid bigland tim kuniskis

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

Dodge adds fire-breathing Durango SRT for 2018

The playbook for Dodge right now is pretty simple. Wring as much power out of as many things as humanly possible. Now comes the 2018 Dodge Durango SRT. Packing 475 horsepower and 470 pound-feet of torque, this seven-seat school bus will scoot to 60 miles per hour in just 4.4 seconds. Since the latest Durango launched for 2014, Dodge has unabashedly called it a three-row Charger. This beefy SUV makes that aggressive claim even more legit. "It does all the things we want a performance car to do," says Mark Trostle, head of performance, passenger, and utility vehicle exterior design. "It really is our three-row Charger." The 6.4-liter (392 cubic inches) Hemi V8 is considerably stronger than the already-potent 5.7-liter Hemi V8, which is rated at 360 hp and 390 lb-ft in the most powerful Durango available now. The SRT powertrain includes the TorqueFlight eight-speed automatic transmission used in the lesser Durango models (and many other FCA US vehicles), though it's calibrated specifically to the sportier demeanor of the SRT model. A similarly retuned full-time all-wheel-drive system rounds out the powertrain. Despite the fact this is a hot-rod SUV, it can still tow 8,600 pounds with a trailer, 1,200 pounds more than the most capable 2017 Durango (the rear-wheel 5.7-liter variant). View 9 Photos The Durango SRT is an obvious move for Dodge. The Jeep Grand Cherokee, which is built on the same platform in the same factory in Detroit, already has an SRT model. With rumors of a Hellcat-powered Grand Cherokee swirling and another Demonic Challenger on the way, the Durango was overdue for an engine upgrade. "When we launched the Durango in 2014, this is the one we really wanted," says Tim Kuniskis, head of FCA US' passenger car brands. There's no doubt this is an enthusiast-oriented SUV. Dodge even went to the trouble of certifying the Durango SRT's 12.9-second quarter-mile time with the NHRA and tested it a Virginia International Raceway. Buy a Durango SRT, and you get a full day at the Bob Bondurant School of High Performance Driving. When's the last time anyone did all of that with a three-row ute? It certainly looks the part. The hood bulges with new air-ducts to help keep the big Hemi chilled appropriately. There's a new front fascia with more air vents and LED fog lamps. Plus, the grille takes on a menacing new glare with a mesh pattern, and the body gets wider wheel flares. Click through the gallery, it really does look like a Charger from some angles.