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Chrysler Q3 profits surge to $611M but per-unit profits trouble

Thu, 06 Nov 2014

Chrysler Group has announced its third-quarter financial results a little later than its crosstown rivals at General Motors and Ford, but the company has reason to celebrate thanks to strong numbers across the board.
The biggest attention-grabber from the automaker is that its net income was up 32 percent in the third quarter to $611 million, compared to $464 million over the same period last year. Modified operating profit was also strong at $946 million - a 10 percent gain. Furthermore, net revenue grew as well to $20.7 billion - 18 percent higher Q3 2013.
Growing sales pushed the strong financials. Chrysler Group sold about 711,000 vehicles worldwide for the quarter, up 18 percent from a year ago. Things looked especially good in the US, where its market share grew to 12.3 percent, versus 11.2 percent in Q3 2013.

Chrysler Pacifica-based crossover SUV coming soon

Thu, Jan 18 2018

Chrysler is finally going to get another vehicle to support its minuscule lineup. According to Motor Trend, Fiat-Chrysler CEO Sergio Marchionne said that the company has a three-row crossover based on Chrysler's Pacifica minivan ready to go in as little as 18 months. Moving past the irony that Chrysler repurposed the old Pacifica crossover's name for a minivan, only for that very van to yield a new crossover, this is a vital vehicle for Chrysler that offers some interesting possibilities. Firstly, as we just mentioned, Chrysler hardly has anything in its lineup right now. With the departure of the 200, it was left with the 300 and the Pacifica. Both are perfectly fine machines, and we especially like the Pacifica, but they didn't leave the brand with much breadth for people who wanted something that wasn't a large sedan or a minivan. Both of those segments are giving up market share to crossovers, so a Pacifica-based crossover, one with three rows, will be beneficial beyond just offering another model, but also offering one that is more broadly popular, especially as more companies including Subaru and Volkswagen expand into the large three-row segment. The Pacifica platform also offers some unique opportunities for this upcoming Chrysler crossover. Using such a space-efficient starting point could give this Chrysler class-leading passenger and cargo space. Most interesting to consider, though, is the possibility of a plug-in hybrid. With the heavy lifting done during the Pacifica's development, it shouldn't be too difficult to adapt the PHEV powertrain to the new crossover. Shockingly, plug-in crossovers have only been tried by luxury brands and Mitsubishi, the latter with the Outlander PHEV. So this Chrysler could be in a class of its own by offering a larger PHEV than Outlander, but at a better price than the luxury automakers. As such, we're quite interested to see how this crossover turns out. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Autoblog Minute: FCA hit with record fine, issues recall and buyback

Tue, Aug 4 2015

FCA, found in violation of the Motor Vehicle Safety Act, agrees to buyback recalled models as part of record penalties issued by National Highway Traffic Safety Administration. The cars in question are more than half a million Chrysler vehicles with defective suspension parts that could cause cars to lose control, and more than a million Jeeps that are prone to deadly fires. Autoblog's Eddie Sabatini reports on this edition of Autoblog Minute, with expert commentary from Pete Bigelow. Show full video transcript text [00:00:00] FCA faces record penalties as the National Highway Traffic Safety Administration finds the automaker in violation of the Motor Vehicle Safety Act. I'm Eddie Sabatini and this is your Autoblog Minute. Penalties for the automaker include submitting to increased government oversight, a hundred and five million dollar civil penalty, as well as, mandates to buy back defective vehicles from owners and payment for repairs. The cars in question are [00:00:30] more than half a million Chrysler vehicles with defective suspension parts that could cause cars to lose control, and more than a million Jeeps that are prone to deadly fires. Autoblog's Pete Bigelow discussed the NHTSA findings with us. [00:01:00] [PETE BIGELOW INTERVIEW] This fine and buyback recall, combined with the 1.4 million vehicles recalled over remote hacking concerns makes for a rough couple of weeks for FCA. For Autoblog, I'm Eddie Sabatini. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.