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Fiat Chrysler teams with startup Archer to build an electric air taxi

Archer Aviation is one of many startups trying to build an electric vertical takeoff and landing (eVTOL) aircraft, among Volocopter, Hyundai, Lilium and many others. The startup just boosted its standing, however, as it has announced a partnership with Fiat Chrysler Automobiles (FCA). Archer plans to build a composite eVTOL aircraft capable of traveling 150 mph for distances up to 60 miles. FCA will provide access to its “low-cost supply chain, advanced composite material capabilities and engineering and design experience,” according to Archer. The aim is to unveil the electric aircraft design in 2021 and start manufacturing in 2023. Archer has only released a teaser image of the aircraft, showing a sleek six-prop, V-tail design. Presumably, the wings or individual engines rotate to allow for both VTOL and decent forward travel speeds. The design differs from others weÂ’ve seen like LiliumÂ’s aircraft, which has the propulsive fans hidden in the wings. ItÂ’s also nothing like the drone-type designs from Volocopter, Joby and Hyundai. It does look a bit like Larry PageÂ’s “Cora” air taxi, however. Archer said itÂ’s been “hyper-focused” on the customer part of the design, aiming to offer “increased safety while producing minimal noise” compared to helicopters. “Now, we are working with a seasoned, industry-leading automotive partner... to produce thousands of aircraft reliably and affordably every single year,” said co-founder and co-CEO Brett Adcock. All passenger aircraft must pass a rigorous FAA certification process thatÂ’s daunting even for experienced companies like Boeing, and itÂ’s still not clear how “thousands” of air taxis would fit into the current air traffic control system. On top of that, so far weÂ’ve seen zero eVTOL aircraft that look ready for human transport or mass production. Written by Steve Dent for Engadget. Green Plants/Manufacturing Chrysler Fiat air taxi

Trucks, SUVs drive U.S. October new vehicle sales

DETROIT — Major automakers posted mixed U.S. new vehicle sales in October on Wednesday, though America's love affair with high-margin pickup trucks and SUVs remained in full bloom as larger, pricier vehicles fared better than passenger cars. Auto industry publication WardsAuto put the seasonally-adjusted annualized rate (SAAR) for light vehicle sales in October at a robust level of 18 million units. But after a long boom cycle, carmakers are still ill-prepared for the slight decline in sales anticipated for full-year 2017 and have taken too few steps to trim production, said Doug Mehl, a partner in consultancy A.T. Kearney's automotive practice. "When you make a new vehicle, you have volume assumptions tagged to it, and who wants to be the guy who says, 'I'm going to make less of this really cool model'?" Mehl said. "But eventually the market is the reality, and it's going to force companies one way or other here." General Motors GM reported a sales drop of 2.2 percent for the month, with consumer sales down 6.6 percent. But sales of high-margin pickup trucks, sport utility vehicles and crossovers all rose. GM also cut its inventory of unsold vehicles — a source of concern for the market — slightly. The automaker has worked to reduce its volume of excess inventory, including through significant production shutdowns in the third quarter. GM had said its inventory would rise in October. "We are heading into the fourth quarter with good momentum, thanks to a strong U.S. economy and very strong pickup and crossover sales," said Kurt McNeil, GM vice president for U.S. sales operations. GM slightly reduced consumer discounts as a percentage of average transaction prices to 13.5 percent, from 13.7 percent in the third quarter. Industry experts believe consumer discounts above 10 percent of the average transaction price are unhealthy as they erode resale values and are unsustainable in the long term. Consultants J.D. Power and LMC said last week that based on preliminary October sales numbers, discounts have exceeded 10 percent in 15 of the past 16 months. Ford The U.S. auto industry posted record sales of 17.55 million vehicles in 2016. New sales received a strong boost in September as consumers replaced vehicles damaged in southeast Texas by Hurricane Harvey the previous month. Full-year 2017 sales are expected to be slightly lower than 2016.

FCA earnings improve in first quarter

Following on the recent global financial releases from Ford and from General Motors for the first quarter of 2015, FCA is now putting out its own numbers, and things look quite good for the company. The automaker posted adjusted earnings before taxes and interest of $895 million, a 22-percent jump from Q1 2014, and net profits of $103 million, a $296-million boost from last year. Revenue was also up 19 percent to $30 billion. Despite the favorable figures, actual worldwide shipments fell slightly by 2 percent to 1.1 million vehicles. FCA is giving some credit for these strong Q1 results to the automaker's performance in the NAFTA region. Shipments grew 8 percent to 633,000 vehicles, and net revenue jumped a strong 38 percent to $18.1 billion. Adjusted earnings reached $672 million, compared to $425 million in 2014. The company especially praised the Jeep Renegade, Chrysler 200, and Ram 1500 for helping the bottom line. The numbers could have been even higher, but the corporation admitted that "higher warranty and recall costs" partially drug things down. For the full year in 2015, FCA expects to ship between 4.8 and 5 million vehicles worldwide and post up to $5 billion in adjusted earnings. There should be about $1.3 billion in net profit, as well. FCA CLOSED Q1 WITH NET REVENUES OF ˆ26.4 BILLION, UP 19% AND ADJUSTED EBIT AT ˆ800 MILLION, UP 22% 30/04/15 FCA closed Q1 with net revenues of ˆ26.4 billion, up 19% and adjusted EBIT at ˆ800 million, up 22%. Net industrial debt was ˆ8.6 billion, up ˆ0.9 billion. Full year guidance confirmed. Worldwide shipments were 1.1 million units, 2% lower than Q1 2014, reflecting strong performance in NAFTA and weak market conditions in LATAM. Jeep's positive performance continued with worldwide shipments up 11% and sales up 22%. Net revenues were up 19% to ˆ26.4 billion (+4% at constant exchange rates, or CER). Adjusted EBIT was ˆ800 million, up ˆ145 million from Q1 2014, with all segments except LATAM posting positive results. The positive impact of foreign exchange translation was offset by negative impacts at a transactional level. Net profit was ˆ92 million, up ˆ265 million compared to the net loss of ˆ173 million in Q1 2014. Net industrial debt was ˆ8.6 billion, up ˆ0.9 billion from year-end mainly due to timing of capital expenditures and working capital seasonality. Liquidity remained strong at ˆ25.2 billion. The Group confirms its full-year guidance.