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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

Driving the new Prius Prime, Lordstown goes bankrupt and the march to NACS | Autoblog Podcast # 787

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They start the show by talking about the cars they've been driving. Zac spent time in the 2023 Toyota Prius Prime and 2023 Jeep Compass, while Greg chats about his week in the 2023 Cadillac CT5-V and 2023 Hyundai Santa Fe Calligraphy. Next, they hit the news and chat about Lordstown's bankruptcy, Volvo (and others) adopting Tesla's NACS port and the revealed presence of a BMW M5 Touring. Finally, they conclude with the Spend My Money segment where a listener is looking for help finding a new EV or PHEV. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast # 787 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 Toyota Prius Prime XSE Premium 2023 Cadillac CT5-V 2023 Jeep Compass 2023 Hyundai Santa Fe Calligraphy News Lordstown bankruptcy Volvo adopts NACS, and the trend continues A BMW M5 Touring is coming, but will it come here? Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts BMW Cadillac Hyundai Jeep Toyota Volvo Green Automakers Technology Crossover Hatchback SUV Wagon Electric Hybrid Luxury Performance Sedan Podcasts

Jeep Wagoneer, Grand Wagoneer, and pickup confirmed for production, all built in the US

Jeep has confirmed some much-anticipated future models: a new Wagoneer and Grand Wagoneer as well as a pickup truck, which we expect to be based on the Wrangler. FCA has also announced where these new vehicles be produced, the investment involved, and that adding the models will create 2,000 American jobs. The Wagoneers will be built at FCA's Warren Truck Assembly Plant in Michigan, which currently produces the Ram 1500. The overhaul required to add the Jeeps will also set the plant up to build Ram Heavy Duty models, which are currently made in Mexico. (It's not clear whether this would be additional Heavy Duty capacity or a complete move of production of those trucks to the US.) The confirmed Jeep pickup will be built at the Toledo Assembly Complex in Ohio as expected. This is the same plant that builds Wranglers today and will produce the new JL Wrangler that the pickup version is expected to use. View 30 Photos All of these factory upgrades are part of a $1 billion investment by FCA. The retooling is scheduled to be completed by 2020, which means these models are likely to come online for the 2021 model year, which jibes with the rumors that the Wagoneers have been delayed. That the large Jeeps will be built at the plant that currently produces Ram 1500s also leads us to believe that they will in fact use a version of the Ram truck platform instead of being built off the Grand Cherokee platform as originally planned. The timing of this announcement and its mention of Mexico and US jobs may have something to do with recent talk from President-elect Trump about US auto industry jobs and possible tariffs to be imposed on vehicles built across the border. Marchionne says these plans have been in discussion "for some time" but it's not clear what that timeframe was. Trump has targeted Ford, General Motors, and Toyota in recent tweets but has stayed quiet on FCA. While the announcement may have been political in nature, Jeep fans will no doubt welcome the news of the returning nameplates and the long-awaited pickup model. Related Video: Featured Gallery 2019 Jeep Grand Wagoneer Dealer Leak Spy Shots Jeep Crossover SUV Luxury Off-Road Vehicles jeep wrangler pickup