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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

Zombie cars: 9 discontinued vehicles that aren't dead yet

Car models come and go, but as revealed by monthly sales data, once a car is discontinued, it doesn't just disappear instantly. And in the case of some models, vanishing into obscurity can be a slow, tedious process. That's the case with the 12 cars we have here. All of them have been discontinued, but car companies keep racking up "new" sales with them. There are actually more discontinued cars that are still registering new sales than what we decided to include here. We kept this list to the oldest or otherwise most interesting vehicles still being sold as new, including a supercar. We'll run the list in alphabetical order, starting with *drumroll* ... BMW 6 Series: 55 total sales BMW quietly removed the 6 Series from the U.S. market during the 2019 model year. It had been available in three configurations, a hardtop coupe, a convertible and a sleek four-door coupe-like shape.   BMW i8: 18 total sales We've always had a soft spot for the BMW i8, despite the fact that it never quite fit into a particular category. It was sporty, but nowhere near as fast as similarly-priced competitors. It looked very high-tech and boasted a unique carbon fiber chassis design and a plug-in hybrid powertrain, but wasn't really designed for maximum efficiency or maximum performance. Still, the in-betweener was very cool to look at and drive, and 18 buyers took one home over the course of 2021.   Chevy Impala: 750 total sales The Impala represented classic American tastes at a time when American tastes were shifting away from soft-riding sedans with big interior room and trunk space and into higher-riding crossovers. A total of 750 sales were inked last year.   Chrysler 200: 15 total sales The Chrysler 200 was actually a pretty nice sedan, with good looks and decent driving dynamics let down by a lack of roominess, particularly in the back seat. Of course, as we said regarding the Chevy Impala, the number of Americans in the market for sedans is rapidly winding down, and other automakers are following Chrysler's footsteps in canceling their slow-selling four-doors. Even if Chrysler never really found its footing in the ultra-competitive midsize sedan segment, apparently dealerships have a few leftover 2017 200s floating around. And for some reason, 15 buyers decided to sign the dotted line to take one of these aging sedans home last year.

In Michigan, car hackers could face life imprisonment

Car hackers may not want to mess with vehicles in and around the Motor City. A pair of Michigan lawmakers introduced legislation Thursday that would punish anyone who infiltrates a vehicle's electronic systems with penalties as harsh as life imprisonment. Senate bill 927 says that "a person shall not intentionally access or cause access to be made to an electronic system of a motor vehicle to willfully destroy, damage, impair, alter or gain unauthorized control of the motor vehicle." Offenders will be deemed guilty of a felony, and may be imprisoned for any number of years up to life in prison. The proposed legislation is one of the first attempts nationally to address the consequences for car hacking, which has become a top concern throughout the auto industry. Critics have accused executives of being slow to respond to the threats, which were first known as long as six years ago but gained attention last July when a pair of researchers remotely controlled a Jeep Cherokee. In January, the industry established an Information Sharing and Analysis Center to collectively evaluate security measures and counter breaches. But the Michigan bill isn't noteworthy only because of the life penalty prescribed; it's noteworthy for what's missing in its details. Language in the bill doesn't delineate between independent cyber-security researchers and criminals who intend to inflict harm or havoc. Under its provisions, it's possible Charlie Miller, pictured below, and Chris Valasek, the researchers who demonstrated last summer that the Cherokee could be remotely commandeered and controlled, could face life behind bars. Provisions of the legislation that prevent a person from "altering" the motor vehicle could ensnare car enthusiasts or gearheads who tinker with electronic systems to boost performance, increase fuel efficiency or add aftermarket features. In that context, Senate Bill 927 seems like the latest measure in a running feud between independent researchers, gearheads and big automakers. Car companies don't like third parties poking around their electronic systems and would prefer the researchers not reveal security weaknesses. Researchers, on the other hand, say many carmakers are either slow to fix or unwilling to repair security holes unless they're able to publish their findings.