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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.

Lexus tops JD Power Vehicle Dependability Study again, Buick bests Toyota

It shouldn't surprise anyone, but Lexus has once again taken the top spot in JD Power's Vehicle Dependability Study. That'd be the Japanese luxury brand's fourth straight year at the top of table. The big news, though, is the rise of Buick. General Motor's near-premium brand beat out Toyota to take second place, with 110 problems per 100 vehicles compared to Toyota's 111 problems. Lexus owners only reported 89 problems per 100 vehicles. Besides Buick's three-position jump, Scion enjoyed a major improvement, jumping 13 positions from 2014. Ram and Mitsubishi made big gains, as well, moving up 11 and 10 positions, respectively. In terms of individual segments, GM and Toyota both excelled, taking home seven segment awards each. The study wasn't good news for all involved, though. A number of popular automakers finished below the industry average of 147 problems per 100 vehicles, including Subaru, (157PP100), Volkswagen (165PP100), Ford/Hyundai (188PP100 each) and Mini (193PP100). The biggest losers (by a tremendous margin, we might add) were Land Rover and Fiat, recording 258 and 273 problems per 100 vehicles. The next closest brand was Jeep, with 197PP100. While the Vehicle Dependability Study uses the same measurement system as the Initial Quality Survey, the two metrics analyze very different things. The VDS looks at problems experienced by original owners of model year 2012 vehicles over the past 12 months, while the oft-quoted IQS focuses on problems in the first 90 days of new-vehicle ownership. Like the IQS, though, the VDS has a rather broad definition of what a problem is. Because of that, a low score from JD Power is no guarantee of extreme unreliability, so much as just poor design. In this most recent study, the two most reported problems focused on Bluetooth connectivity and the voice-command systems. The former leaves plenty of room for user error due to poor design (particularly true of the Bluetooth systems on the low-scoring Fords, Volkswagens and Subarus), while the second is something JD Power has already confirmed as being universally terrible. That makes means that while these studies are important, they shouldn't be taken as gospel when it comes to automotive reliability. News Source: JD PowerImage Credit: Copyright 2015 Jeremy Korzeniewski / AOL Buick Fiat Ford GM Hyundai Jeep Land Rover Lexus MINI Mitsubishi RAM Scion Subaru Toyota Volkswagen Auto Repair Ownership study

Sunday Drive: Taking a gaze into the automotive crystal ball

Mankind has long been fascinated by the future. So it makes sense that this past week's top stories were all about cars, trucks, and SUVs that won't be hitting the market until the 2019 model year. And right at the top of the list is the Ram 1500. We've come to know Ram as the truck maker that styles its pickups with cues cribbed from big rigs, but that look has slowly evolved over time into something uniquely its own. The next Ram 1500 continues this trend, with a newly refined look that we can't wait to see in person. Up next is the 2019 Chevy Silverado. Pickup trucks have been, continue to be, and will remain the best-selling vehicles in America. And General Motors is a leader in the field, with two distinct offerings with which to entice buyers, one from the bread-and-butter Chevrolet brand and one wearing the slightly more upscale GMC badge. The Chevy looks to get LED lighting elements for 2019, which ought to keep the truck from looking dated when compared to the Ford F-150 and the previously mentioned Ram 1500. From there we move past pickup trucks and into SUVs and sedans. The 2019 Jeep Cherokee looks to get toned down a bit with its next refresh, and the '19 BMW 3 Series continues its slow evolutionary journey at the top of its aspirational sales pedestal. Finally, spy shots give way to official production reveals for the 2019 Audi A7 and Polestar 1. This pair of European luxury cars won't compete with one another – one is a rakish hatchback and the other a sports coupe – any further than for the eyeballs of our readers, but both proved popular enough to merit inclusion in our weekly roundup. As always, tune in to Autoblog next week for a front-row seat to all the happenings worth following in the automotive industry. 2019 Ram 1500 spotted without the classic crosshairs 2019 Chevy Silverado spied with new LED accents 2019 Jeep Cherokee reveals a much more normal face 2019 BMW 3 Series spy shots reveal production lights, new interior details 2019 Audi A7 revealed: More torque, refined styling Polestar 1 First Look | The 600 horsepower hybrid Scandinavian Green Audi BMW Chevrolet Jeep RAM Volvo Truck Hatchback SUV Future Vehicles Hybrid Luxury Performance Sedan sunday drive polestar 1