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Chrysler reports $464M net income for Q3

Chrysler has just announced earnings of $464 million in net income for this third quarter, a 22-percent year-over-year increase. Net income for the first three quarters of 2013 is at $1.1 billion. Net revenue climbed significantly as well, to $17.6 billion, a 13.5-percent increase on Q3 of 2012.
Those increases were thanks in no small part to an eight-percent rise in sales from the same period last year, with 603,000 vehicles sold worldwide. "Chrysler Group's ninth consecutive quarter of positive net income highlights our commitment to producing award-winning vehicles for consumers, such as the Jeep Grand Cherokee and the Ram 1500," said Sergio Marchionne, Chairman and CEO of Chrysler Group.
Despite the increased sales, Chrysler's US market share dropped slightly, from 11.3 percent in Q3 2012 to 11.2. Canadian market share remained level at 14.3 percent. Have a look below for the entire press release from Chrysler.

FCA chairman confirms Marchionne email to Barra

FCA CEO Sergio Marchionne is apparently backing up his talk about the need for consolidation in the auto industry with quite a bit of action. One recent report claimed that he even emailed General Motors CEO Mary Barra to make a deal. FCA chairman John Elkann has now confirmed that the correspondence actually happened, and that it wasn't a one-off occurrence. "It was not the only email, it was not the only conversation," Elkann (pictured above with Marchionne) said, according to Reuters. He is a member of the Agnelli family that has a controlling stake in FCA's stock and is supporting the idea of a merger. The automaker is willing to "act with determination if there are the prerequisites to do something that makes sense," Elkann said. Marchionne has been pushing for industry consolidation for months. While GM has been the main target of late, Ford was also rumored as a partner under consideration. In the past, there have also been reports of FCA negotiating with Volkswagen Group and PSA Peugeot Citroen for mergers, as well. According to Reuters, part of the reason for all of this effort might be as a way for Marchionne to ensure his legacy, though he's denied that. He's reportedly considering retiring after 2018. In his opinion, consolidation is needed because automakers are investing too much money to achieve the same goals. The situation would be better after mergers, and he predicts something to happen before 2018. Related Video: News Source: ReutersImage Credit: Massimo Pinca / AP Photo Earnings/Financials Chrysler Fiat Sergio Marchionne FCA merger John Elkann

Marchionne defends FCA recalls, says Wrangler won't be all-aluminum

FCA CEO Sergio Marchionne recently received the 2015 Industry Leadership Award from the SAE Foundation. While speaking with the press after the event, the boss discussed his thoughts about some key issues regarding the company's future. One of the big regulatory issues facing FCA at the moment is the upcoming public hearing by the National Highway Traffic Safety into the automaker's handling of 20 recalls. Marchionne has no intention of testifying there, according to The Detroit News. The CEO also thinks that the government regulator is becoming much more aggressive in how it handles safety campaigns, but the Feds aren't necessarily doing a very good job of communicating that. "We need to work with the agency in a very cooperative and open way to make sure that we can meet their requirements for their new stance," he said, according to the newspaper. "We have no option but to comply with their requirements and we will. I have nothing to hide in this process. I just want clear rules." Marchionne also dropped the news that the company has changed its mind about making the next Jeep Wrangler totally from aluminum. "Because of the difference in cost, not just the new material but the actual assembly process, I think we can do almost as well without doing it all-aluminum," he said to The Detroit News. This seemingly opens the door for the model to remain in production in Toledo, OH, but only just a crack. Marchionne says that the new Wrangler would still use a large amount of aluminum, and there are "at least" two sites in contention for the assembly. The company doesn't have too long to make a decision because the model reportedly launches in 2017.