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Fiat Chrysler, surprise, had to buy a lot of emissions credits

The world of carbon emissions uses some unusual units of measure. Take, for example, 8.2 million megagrams. Who needs to know how much that is? Someone at Fiat Chrysler Automobiles, that's who. FCA had to buy that many greenhouse-gas emissions credits from greener automakers, Reuters says, citing a report from the US Environmental Protection Agency (EPA). Because its vehicles' collective fuel economy continues to trail the industry average, FCA purchased the emissions credits at of the end of 2014 in order to meet US emissions regulations. About two-thirds of those credits were acquired from Toyota, while the rest were purchased from Tesla and Honda. Daimler and Ferrari, not surprisingly, were among the other automobile companies that had to acquire emissions credits in order to meet US greenhouse gas regulations. Because the price for these credits is set privately by the companies, the EPA didn't disclose how much FCA had to pay to stay on the green side. The reason for the millions FCA likely spent is because the company is making a slow progress building and selling cleaner cars. The company did increase average fuel efficiency by about one mile per gallon to almost 22 mpg for the 2015 model year, but it wasn't enough. Such a performance likely only put the automaker in a last-place tie with General Motors. The emissions credits purchased from Tesla are notable because that California-based maker of electric vehicles has long generated substantial revenue by selling various credits to its less-electrified counterparts. In 2013, Tesla sold more of California's ZEV credits than any other automaker, but Nissan took that title in 2014. While these are not the same as the EPA's GHG credits, they do offer another way to track which automakers are meeting the targets and which need help. Related Video: News Source: ReutersImage Credit: Flickr/Ian YVR Government/Legal Green Chrysler Fiat Fuel Efficiency mpg

Hyundai-Kia claims 'greenest' title from Honda, Big Three still big losers

Let's start with the good news. On average, any new car you buy in the US today will be 43 percent cleaner than any average new car in 1998. Here's some more good news, for Korea anyway, Hyundai-Kia has been named the cleanest automaker in the latest study by the Union of Concerned Scientists (UCS), which looked at 2013 model year vehicles sold between October 2012 and September 2013 from the top eight automakers (by volume). The bad news? The big three Detroit automakers are, on average, still making the dirtiest cars in the showroom. The big three Detroit automakers are, on average, still making the dirtiest cars in the showroom. The problem for Ford, General Motors and Chrysler lies in their trucks, which sell well but tend to have pretty bad fuel economy (compared to sedans, at least). The UCS calculates its list by averaging "the per-mile emissions for each light-duty vehicle sold by each automaker" and then factors in "the fuel economy, fuel type, and sales volume of each type of vehicle sold by each automaker" and "the upstream global warming emissions from producing and distributing the fuel used by each vehicle, as well as emissions from the vehicles themselves." That all means that, the more trucks you sell, the worse you're gonna do. Then again, the more trucks you sell with 18 mpg, the more you're helping drivers put CO2 into the air, so the UCS is doing a fair comparison of the things that this study is trying to track. More details on the methodology are available on page six of the study PDF. In case you were wondering (we were), UCS did make sure to use the revised mpg numbers for Hyundai and Kia models that were originally overstated. Hyundai has apologized for and fixed those figures and even with the new, corrected numbers, Hyundai's total emissions are dropping at a rate of about three percent a year, enough for it to take the greenest company title for the first time. In fact, this is the first time that an automaker other than Honda has come out on top in the UCS ranking, which has been released six times now, including the first one in 2000 (which looked at 1998 model year data). In 2010, Honda was almost knocked off the winner's perch by both Hyundai and Toyota, but managed to hold on. Chrysler, on the other hand, came in dead last (again) in the ranking of the top eight automakers, snagging the "dirtiest tailpipe" award once (again). Read the UCS' press release below.

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.