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Chrysler earns $1.7B in 2012, revises product plans for US
Wed, 30 Jan 2013Hot on the heels of Ford's earnings announcement for the year that was, Chrysler today reported a 2012 net income of $1.7 billion, up substantially from the comparatively minuscule $183 million profit earned in 2011 when it repaid its US government loans.
Chrysler's good year ended with an excellent fourth quarter that saw net income rise 68 percent from $225 million in 2011 to $378 million. Where are all those extra earnings coming from? Market share, which Chrysler saw increase to 11.4% last year on sales of 1.65 million vehicles. In fact, the Auburn Hills, MI-based automaker out-paced the industry's market growth of 13 percent last year with sales up 21 percent for the year.
The company also revealed an updated product plan for its Chrysler Group and Fiat brands that looks all the way out to 2016. It's an updated version of the plan introduced in 2009 shortly after Fiat took control of the American automaker, and includes such new additions as an Alfa Romeo model, likely the 4C, to be introduced in the US this year, as well five more Alfa models by 2016. Likewise, Fiat will be growing by an additional seven models in the coming few years.
The AEV Recruit is a tough and capable Ram 1500, for a price
Fri, Apr 7 2017American Expedition Vehicles, or AEV, has been doing some wonderful things with Jeep and Ram trucks for the past 20 years. It's been the best source for the long-desired Jeep Wrangler pickup and for beefy overlanders like the Ram Prospector. The company's latest package, the Recruit, turns the already tough Ram 1500 into something that looks particularly fierce. Since it is an AEV product, you can be assured that it has the capabilities to back up the appearance. The Recruit package comes with a whole host of goodies like upgraded suspension and a huge snorkel. The AEV DualSport SE suspension uses Bilstein parts to increase wheel travel and adjust the suspension to balance on and off-road capabilities. The suspension, combined with the 35-inch tires, greatly increase the Recruit's ground clearance. A 4mm thick skid plate helps keep the engine from spilling its black, oily guts in the case that the increased height just isn't enough. A new hood provides better heat ventilation while a big, black filtered snorkel allows the Recruit to breathe easy, even if it's going for a swim. The AEV front bumper comes with Vision X fog lights and is capable of handling up to a 10,000 lbs winch. An optional Vision X LED light bar can provide even better visibility. Other optional features include a leather interior upgrade, a tonneau cover, retractable running boards, and a rear bumper step. All that kit doesn't come cheap. The Recruit starts at $14,950, and that doesn't include the price of the Ram 1500 that provides the canvas for AEV's artisans. Options can easily push the price to nearly $30,000. The good news is that AEV provides a 12 month, 12,000 mile warranty on their builds, so you're paying for quality from a company that stands behind its products. If you want a truck that's willing to go anywhere you want to push it, the new AEV Recruit is hard to beat. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.
FCA CEO Mike Manley will take undefined new role after PSA merger
Wed, Dec 18 2019MILAN — Fiat Chrysler Chief Executive Mike Manley will remain with the new group set to result from a planned merger with French rival PSA-Peugeot, Chairman John Elkann said on Wednesday. In a letter to Fiat Chrysler (FCA) employees on the day the two companies announced a binding agreement for a $50 billion tie-up to create the world's fourth-largest carmaker, Elkann said he was "delighted" that the combined group would be led by current PSA CEO Carlos Tavares. "And Mike Manley, who has led FCA with huge energy, commitment and success over the past year, will be there alongside him," he said. He did not say what position Manley would hold. Elkann — who will chair the new group — said there was still much to be done to complete the merger. "Over the coming months we must work tirelessly and determinedly to fulfill all the approval requirements needed to finalize the commitment we have signed," he said. Related Video:   Hirings/Firings/Layoffs Chrysler Dodge Fiat Jeep RAM Citroen Peugeot FCA PSA merger Mike Manley carlos tavares