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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.

FCA recalls 1.1 million vehicles worldwide due to confusing shifter

Fiat Chrysler is recalling 1.1 million vehicles worldwide to address the problematic shifter used on cars with eight-speed automatic transmissions. The issue is that the console-mounted shifter acts like a rocker switch and always returns to the middle position after moved. This has been deemed confusing to drivers – confusing enough to cause some to exit their vehicles without first selecting Park and leading to the car rolling away. FCA says 41 injuries are related to the shifter problem, and no evidence of equipment failure has been found. The company will enhance warning chimes and alter the shift strategy, meaning alert messages will be displayed in case the driver door is opened while the engine is running. With the door open, the transmission will prevent the car from moving even if Park is not selected. The affected vehicles are certain model-year 2012–2014 Dodge Charger and Chrysler 300 sedans, as well as model-year 2014–2015 Jeep Grand Cherokee SUVs, an estimated 811,586 US vehicles in total. The recall also affects 52,144 vehicles in Canada, 16,805 in Mexico, and 248,667 vehicles elsewhere. The shifter is used with ZF-designed and ZF-built eight-speed automatic; Audi uses a similar shifter setup in some of its vehicles, including the current-generation, which predated Chrysler's use of it. Chrysler uses a different, a rotating-dial-type shifter on eight-speed-equipped Rams. The company moved away from the problem shifter design in 2015 for the Charger and 300, and the Grand Cherokee's shift lever was modified for 2016. Owners of affected vehicles will be notified of the recall when service is available. Fiat Chrysler urges customers to follow the instructions in the vehicle's owner's manual in the meantime. Related Video: News Source: FCAImage Credit: AOL Recalls Chrysler Dodge Jeep RAM Ownership Safety SUV Sedan

2015 Ram 1500 Rebel is rugged, oddly styled

Feeling rebellious? Ram has you covered for 2015 with its new 1500 Rebel model, which, though nowhere near as focused as the Ford F-150 Raptor with which you may think it competes, is skewed toward the always-nebulous "outdoor lifestyle" set that marketing teams the world over seem to covet so much. For such hiking/camping or otherwise outdoorsy types, the Ram Rebel offers an extra inch of suspension travel over regular-grade 1500 models, along with 33-inch tires, a new bumper that affords a better approach angle, tow hooks and a center skid plate. Those are the kind of upgrades many buyers consider mandatory for basic off-road capability, and it's nice that Ram has baked them into a single model. We're less enthused by the in-your-face styling of the rebel, particularly up front, where the traditional crosshair grille has been replaced by a protruding proboscis that's nothing if not unique. There's also massive RAM lettering on the tailgate, just in case you weren't sure who made the Rebel... The show truck's red exterior is mimicked inside, and the leather seats are embossed in a tire-tread pattern. Subtle, it is not. Buyers will have the choice of a 3.6-liter V6 or 5.7-liter Hemi V8 engine, mated to an automatic transmission and the choice of two- or four-wheel drive, though we don't understand why anyone would choose a Rebel without 4x4. In any case, check out the live pics above and the press release and videos below for more details. New 2015 Ram 1500 Rebel Makes a Statement 2015 Ram 1500 Rebel takes advantage of exclusive air suspension in order to offer increased ride height Standard 33-inch tires provide capability and rugged looks First time 3.92 axle ratio available on 3.6-liter Pentastar V-6 engine Equipped with factory lift, skid plates, tow hooks and other off-road-ready features New front grille design a significant styling departure for Ram Truck brand New interior colors and materials, including Radar Red and Black seats with tire tread-matching pattern January 13, 2015 , Auburn Hills, Mich. - The new 2015 Ram 1500 Rebel brings a one-of-a-kind off-road design to the full-size truck segment. "Offering an off-road-style package on the Ram 1500 has been on our to-do list for some time but the right combination didn't present itself until now," said Bob Hegbloom, President and CEO - Ram Truck Brand, FCA US LLC.