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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.

A beginner's guide to plowing snow with a heavy-duty truck

I live in a desert, so the only things getting plowed around here are mud flows and brewer neighbors. But I enjoy machinery and haven't plowed any snow since a "loaded" truck meant one with A/C and a CD player, so I jumped at the chance for a plow primer in a Ram HD on a Canadian airfield. Running a plow is like welding – the basics come quickly but experience pays dividends. The first thing to deal with is a frequently changing horizon because, stout as they are, even three-quarter-ton heavy-duty trucks will move up and down in front considerably with a 600-to-800-pound plow hanging off, and fast plow hydraulics rival some low-riders for bounce effect. Getting going is easy unless you forgot blocks and the plow froze to the ground, rookie. If you have to drive to your plowing assignment, blade height needs some experimentation to find the best cooling airflow; if you think sub-freezing temperatures negate that concern, remember you've installed what amounts to a 20-square-foot air brake up front that the truck has to overcome, and blowing snow could block some cooling air passages. Whether it's a "straight" blade or V design, always have it tilted to the right lest you catch a hidden post, solid mailbox, or edge of a snow bank. Most plow operators I spoke to rarely exceed 45 mph in transit because of cooling, front suspension travel, and common sense, and you should go even slower if you don't have some ballast like chains, extra fuel tanks, or a salt spreader to balance the load on the back. With trucks' relatively slow steering and all that weight up high, oversteer is best avoided. With a little clean space to get a run, stick it in Drive to gather momentum and lower the plow simultaneously to float, where the weight of the plow rests on and lets it run along the surface. Momentum is good until you hit something you didn't know about, at which point the plow's breakaway systems limit damage but your truck could still hit something big; caution never hurts. Start out at 10 to 15 mph, depending on consistency and depth, making a clean wave off one side. If you have to push it straight, as you slow coincidentally raise the blade at the bottom of the pile to shove it up higher. Carry too much speed here and you'll stop with an unceremonious thud. Common mistakes cited among a few experts were people pushing banks of snow rather than plowing it, and rushing the shift between Drive and Reverse, throttling up before the shift is completed.

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