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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.

FCA is setting a five-year strategy: Here's how the last one played out

We're slightly more than four years removed from Sergio Marchionne last five-year plan for FCA, a tell-all where the Italian-American automaker divulged its plans for the 2014 through 2018 model years. It was a grand affair, where Sergio told FCA investors that all was right in Auburn Hills, Alfa Romeo and Maserati were making comebacks, and the fifth-gen Dodge Viper received a mid-cycle refresh. You can read every last one of those past predictions right here. We're on our way to Europe to see Sergio's sequel, coming out Friday straight from FCA's Italian headquarters. (Bloomberg reports a plan to expand Jeep and Ram globally, combine Alfa Romeo and Maserati into a single division for an eventual spinoff, and downsizing Fiat and Chrysler. Also, EVs.) But before we arrive in Italy and find out exactly what Marchionne has planned for 2019 through 2023 as his last act as CEO, let's take a minute to tally up the results of his last term based on the same scoresheet we used in 2014. Now, we're only five months into 2018, so much of this — including vehicles like the Ram HD and Jeep Grand Wagoneer — could still debut this year. For those, we'll mark things TBD. We're not going to draw any conclusions or make any objectionable remarks. We're simply going to let the stats speak for themselves.

Buyer says Dodge dealer gave him wrong Charger, failed to notice for 2 months

Mistakes happen, and they happen all the time. But when that mistake means a customer doesn't get what he or she paid for, something's gotta give. That's what one Dodge Charger buyer claims he is trying to sort out with his local dealership. Two months after taking delivery, the owner (going by the user name Dakrbouncer4689 on Reddit) says he got a call from his local Dodge dealership reporting a little problem. He had ordered and paid for the Charger SXT (pictured above on the dealer lot), but was given a Charger SE instead. The SE being the lower trim level, this presented one set of problems – namely a $2,000 discrepancy in equipment, like a five-speed automatic versus an eight-speed, a 4.3-inch infotainment display instead of 8.4, heated seats, leather steering wheel, premium audio, remote starter and so on. The second set of issues is that the VIN number on the paperwork (including the registration and insurance papers) of course doesn't match that of the car itself. The dealer, having obviously made a rather large mistake, apparently called the owner in to sort out the mess, but according to the customer's account, things didn't go as smoothly. Instead of immediately working to address the problem, the salesman kept the owner waiting, acted like it was no big deal, and offered only to swap the cars with no compensation for the trouble. Fortunately, the manager proved more sympathetic and apologetic, and offered the customer three options: he could swap the cars (re-doing the tinted windows on the SXT that the customer had done on the SE and throwing in leather seats for free), he could keep the SE (with the dealership handling the paperwork, throwing in the leather seats, adjusting the price and refunding an extra $400), or they could cancel everything, return the car and part company. As we go to press, the Charger owner had yet to make (or at least share) his decision. But while the principle of caveat emptor makes us wonder how he managed to take home a different car from the one he paid for, clearly the salesman and the dealership made a pretty large mistake by presenting him with the wrong set of keys and letting him off the lot without double checking it all. News Source: Darkbouncer4689 via Reddit, World Car Fans Dodge Car Buying Car Dealers Economy Cars Sedan