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Chrysler banks $507 million in Q2, trims 2013 earnings forecast

Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $1.7 and $2.2 billion, according to Automotive News.
In addition to the adjusted net income forecast, Chrysler tweaked its operating profit from $3.8 billion to between $3.3 and $3.8 billion. This has gone largely unexplained by Chrysler, perhaps hoping the news of a three-percent increase in its transaction prices for Q2 will allow it to sweep this adjustment under the rug.
The star of the show for Chrysler has been its US sales, which saw a 10-percent jump, both bettering the industry average of eight percent and improving over the same stretch of 2012. As with the increase in transaction prices, Chrysler has the new Ram pickup and Jeep Grand Cherokee to thank. Perhaps most worrying from this report, though, is that every brand in the automaker's stable saw an increase in sales... except for the Chrysler brand itself.

Dodge could return to NASCAR, Marchionne says

Fiat Chrysler Automobiles CEO Sergio Marchionne said he'd "love to" bring Dodge back to NASCAR. The news could signal a potential shift in America's favorite motorsport away from today's three-manufacturer arrangement, but we're wondering just how much sense Dodge's return would make amid NASCAR's dwindling television ratings and attendance figures. It took a visit from Ferrari at NASCAR's biggest icon, Daytona International Speedway, for the Ferrari Challenge World Finals to get Marchionne on the subject of Dodge and stock car racing. When asked about the possibility on Sunday, the FCA boss revealed he'd just spoken to NASCAR executive vice president Jim France the night before about Dodge's return. Dodge announced its NASCAR departure in 2009, as it was in the grips of a major bankruptcy alongside cross-town rival General Motors. While GM's Chevrolet brand stuck it out and won three of the last four manufacturer championships, the final Mopar-powered team flipped to Ford in 2012. Marchionne takes the blame for the decision, citing reasons that are, frankly, very good. "I am the guilty party at the table. In 2009 we came out of bankruptcy; we couldn't [justify] racing in NASCAR when I was trying to pay bills and make payroll," Marchionne said, according to Autoweek. "I think we're in a different place now." NASCAR is in a different place, too. The sport has struggled with disappointing television ratings in the past several years, and it's not uncommon to tune into races at some of the sport's marquee tracks, like Bristol Motor Speedway, and see scores of empty seats. Sponsorship dollars are also drying up. That could explain Marchionne's non-committal follow-up comments. "We need to find the right way to come back in," Marchionne said, adding that he'd revisit the idea with Jim France and International Speedway Corporation CEO and NASCAR board member Lesa France Kennedy "in short order." Related Video:

Dodge shows can-do attitude with grand Can'avan sculpture

There are lots of ways to celebrate an important birthday, and all of them are well deserved. You can throw a big party, buy yourself something nice, or - if you're the altruistic type - do something for others in need. The latter is how Chrysler has opted to mark the 30th anniversary of its Dodge Grand Caravan and Chrysler Town & Country.
Together with hunger-advocacy organization Canstruction, the Chrysler Foundation has built a full-scale replica of the Grand Caravan out of 30,000 food cans in the square at the corner of Yonge and Dundas in Toronto, a ways down the highway from where the real vans are built in Windsor. The sculpture was built over the course of 10 hours by 30 volunteers and was displayed earlier this week.
Now the installation is being taken down, and the cans of food are being donated to the Daily Bread Food Bank, which will assemble them into 2,000 food baskets to be distributed to those in need through its network of 200 food banks across the Canadian metropolis. Check out a neat time-lapse video of the build and the press release below.