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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.

FCA names Mike Manley head of Ram brand

Sergio Marchionne seems to revel in shifting the numerous portfolios of the senior executives who work under him. Case in point: the latest round of hat-swapping announced by Fiat Chrysler Automobiles. Several appointments have been made at the top levels of the group, chief among them a new head of the Ram truck brand. That role will now fall to Mike Manley, who will also retain his responsibilities for the Jeep brand and as COO for the Asia-Pacific region. With his hands busy enough as it is, we'd imagine that much of the day-to-day will fall to Robert Hegbloom. He had Manley's new job until now – but will still remain head of the Ram brand for North America, where the bulk of its business is conducted. Along with the shift in leadership for the Ram brand, FCA also named Reid Bigland as head of fleet operations for North America. Bigland is also responsible for sales in the same region, and for the Alfa Romeo brand here as well. The company also named Tim Kuniskis to the Group Executive Council, charged with overseeing all the passenger-car brands in North America – including Dodge, Chrysler, and Fiat. While it was at it, FCA also named Al Gardner as head of network development for North America, and Jason Stoicevich as Bigland's deputy for US fleet and small-business sales. All these appointments take effect immediately. FCA US ANNOUNCES LEADERSHIP CHANGES October 5, 2015 , Auburn Hills, Mich. - FCA US today announced several leadership team moves in support of changes at the Fiat Chrysler Automobiles N.V. (FCA) Group Executive Council (GEC) level. The moves were made to ensure proper representation of all of FCA's major brands on the GEC, the highest management level decision making body within the FCA organization. Earlier today, the following moves were announced at the GEC level. - Mike Manley is appointed Head of Ram Brand. Manley will retain his current GEC responsibilities as APAC Chief Operating Officer and Head of Jeep Brand. - Reid Bigland is appointed Head of NAFTA Fleet. Bigland will continue his current GEC responsibility for NAFTA Sales & Alfa Romeo. - Timothy Kuniskis becomes a member of the GEC and assumes responsibility for NAFTA Passenger Car Brands, consisting of Dodge and SRT, Chrysler and FIAT. In addition, the following appointments were made to the North American leadership team. - Robert Hegbloom continues as Head of Ram Brand for North America, now reporting to Manley.

Ram teases a new way to get off the beaten path

File this under "What do we have here?" The Ram Trucks Twitter account posted a 15-second video teasing... well, we have no idea what it is, but it's coming this month. The word "Hiking" appears twice in the video of two hikers coming to a fork in a dirt road, where a sign reads, "Caution, unpaved trail ahead." After that, we're only told that "Life's more fun off the beaten path. An exciting new way to get there is coming soon!" Now you know what we know. But if you happen to know more, feel free to give us some clues in Comments. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Ram Trucks via Twitter, World Car Fans RAM Truck Videos