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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

Chrysler investing $20M in Toledo plant to support 9-speed auto production

In 2011, Chrysler announced a $72-million investment in its Toledo Machining Plant to modernize production of the eight- and nine-speed torque-converters for automatic transmissions made there. That upgrade work won't be finished until Q3 of this year, but Chrysler has already announced a further $19.6-million investment to increase production capacity for the nine-speeders.
The extra units will be necessary because the nine-speed transmission they'll be mated to is going into three popular models: it will debut on the 2014 Jeep Cherokee, then go into the Chrysler 200 and Dodge Dart. The company predicted that this year alone it would sell 200,000 units equipped with the nine-speed tranny, and it is spending some $374 million in addition to the investment in Toledo to upgrade production capacity for it.
The work attached to this new investment won't begin until Q3 of 2014, and it will be finished by the end of that year. There's a press release below with all the details.

2015 Dodge Challenger SRT Hellcat [w/videos]

Darrell Waltrip once said, "If the lion didn't bite the tamer every once in a while, it wouldn't be exciting." The sentiment behind that aphorism is causing my adrenal gland to wake up as Dodge and SRT drivers and engineers - somber-faced to a man - give me the track talk that will precede my driving the 2015 Dodge Challenger SRT on the circuit at Portland International Raceway. PIR might not be Daytona, and the 707-horsepower Challenger Hellcat might seem tame to a legend like ol' Jaws, but there's a not-small part of me that's thinking about how hard Dodge's fire-breathing kitty might bite.
Just a few hours previous, I'd gotten behind the wheel of the Hellcat for the first time, letting its hyperbole-spitting, supercharged V8 Hemi pull me yieldingly through Portland's morning commuter traffic. Lulled into a cocky certainty by the Challenger's good manners at low speed, I drove the throttle just a hair too deep, too fast when I ran on to the highway ramp. For just an instant the rear tires were utterly drenched in torque, and the back end of the big Dodge loosened up like a drift car on a wet track. Throttle steer lives at the fleeting whim of your right foot in this car.
It was no big thing to lay off the gas and pull the Hellcat back in line as I entered the highway, but the incident did get me to thinking: What will this car do to me on a road course?