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Dodge, Jeep and Ram could soon be owned by Chinese automakers

For the past several years, Fiat Chrysler CEO Sergio Marchionne has made it widely known that the automaker he helms is up for grabs. First, he sent an email to GM CEO Mary Barra, who immediately refused to even discuss a merger. Later, Marchionne set his sights on Volkswagen. That too was swiftly rebuffed. It seemed like no global automaker was remotely interested in a partnership. Now, Automotive News reports that several Chinese automakers have come calling, only FCA isn't ready to answer. At least not yet. The news broke this morning that a major Chinese automaker had made an offer to purchase FCA for slightly above market value. FCA refused, saying the offer wasn't quite generous enough. It's unclear which automaker made the offer, but Automotive News says there's more than one interested party. FCA representatives have recently traveled to China to meet with Great Wall Motors, while Chinese representatives were seen at FCA corporate headquarters in Auburn Hills, Mich. The Chinese government has a lot of money invested in local automakers. It's putting pressure on these automakers to expand globally, including to the United States. As it stands, it's a matter of when a Chinese automaker will start selling cars here, not if. Purchasing an established automaker with a wide range of products and a huge dealer network would do wonders in giving the Chinese a foothold here. Sure, Geely owns Volvo, but a luxury automaker doesn't have nearly as much reach as a more mainstream company like FCA. This seems like the best case scenario for both a Chinese automaker looking to move into the U.S. and for FCA, at least from a business standpoint. The latter doesn't seem to have any other interested parties. It will be interesting to see how FCA would sell a deal like this to the public. We're not sure everyone will be happy with Dodge, Jeep and Ram falling under Chinese ownership. FCA didn't turn down the Chinese because they didn't like the idea. It turned down the offer because there wasn't enough money on the table. Related Video: News Source: Automotive News Earnings/Financials Alfa Romeo Chrysler Dodge Fiat Jeep RAM

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.

Raminator sets world record for fastest monster truck [w/video]

Monster trucks are made for a lot of things: crushing jalopies, jumping over jalopies, wowing spectators while crushing and jumping over jalopies, and so on. But powerful as they tend to be, monster trucks are not built for outright speed. Still, one has to be faster than another, and as it turns out, Raminator is the fastest of them all. Alongside Rammunition and the new Mopar Muscle, Raminator is one of three Ram-based monster trucks run by the Hall Brothers Racing Team with support from Chrysler. It's been named Truck of the Year by the Monster Truck Racing Association a record eight times, its driver Mark Hall has been named the association's Driver of the Year nine times and its crew chief Tim Hall its Mechanic of the Year five times. And now Raminator and the Hall Brothers have claimed the Guinness World Record for the fastest monster truck, recording a top speed of 99.10 miles per hour to break the previous record of 96.8 mph. The record was set at the Circuit of the Americas, the 3.4-mile track built on the outskirts of Austin, Texas, to host the United States Grand Prix. Aside from Formula One, the track has hosted endurance racing, touring cars and motorbikes, and while Raminator may not be the fastest vehicle ever to lap the circuit, it's surely one of the biggest. Scope out the video from the record run below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Raminator Monster Truck and Hall Brothers Racing Team Shatter Guinness World Records® Record: Fastest Speed for a Monster Truck America's fastest growing truck brand breaks speed record for monster trucks at Circuit of the Americas in Austin, Texas December 15, 2014 , Auburn Hills, Mich. - Raminator, a monster truck sponsored by the Ram Truck brand, has broken the Guinness World Records® record for the "Fastest Speed for a Monster Truck" at Circuit of The Americas in Austin, Texas. Hitting a new record speed of 99.10 miles per hour (mph), Raminator and driver Mark Hall secured the Guinness World Records title at 8:44 a.m. (CT), breaking the previous record of 96.8 mph. As the fastest growing truck brand in America, the Ram Truck brand is a long time sponsor of the fastest Monster Truck, the Raminator. The Ram-sponsored monster truck lineup includes the 2014 Monster Truck Nationals Champion Raminator and Rammunition, sponsored since 2002. In 2014, Mopar also introduced Mopar Muscle; the monster truck it sponsors.