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Chrysler banks $507 million in Q2, trims 2013 earnings forecast

Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $1.7 and $2.2 billion, according to Automotive News.
In addition to the adjusted net income forecast, Chrysler tweaked its operating profit from $3.8 billion to between $3.3 and $3.8 billion. This has gone largely unexplained by Chrysler, perhaps hoping the news of a three-percent increase in its transaction prices for Q2 will allow it to sweep this adjustment under the rug.
The star of the show for Chrysler has been its US sales, which saw a 10-percent jump, both bettering the industry average of eight percent and improving over the same stretch of 2012. As with the increase in transaction prices, Chrysler has the new Ram pickup and Jeep Grand Cherokee to thank. Perhaps most worrying from this report, though, is that every brand in the automaker's stable saw an increase in sales... except for the Chrysler brand itself.

NHTSA is investigating FCA shifters for roll-away accidents again, this time the rotary units

It seems FCA's shifter troubles aren't over yet. Now, just a few months after issuing a recall to resolve user-related issues with its monostable shifters, the company is again under investigation by NHTSA. The issue is related to the potential for cars to roll away when the rotary-style shifter is not properly placed in park. Two FCA models are the subject of this investigation: the 2013–2016 Ram 1500 and the 2014–2016 Dodge Durango. NHTSA estimates about 1,000,000 vehicles would be affected if a recall is issued. The investigation was started following 43 complaints of vehicles rolling away while supposedly being in "park." Among the complaints were reports of 25 crashes and 9 injuries. NHTSA does point out that in every incident, the parking brake was not engaged. A representative from FCA also gave us an official statement regarding the investigation: "FCA US is cooperating fully with NHTSA's investigation, the scope of which is limited. Other vehicles equipped with rotary shifters are not included. In accordance with prudent practice, the Company joins NHTSA in urging all drivers to use their vehicles' parking brakes." View 35 Photos As mentioned above, other Chrysler products with rotary shifters, such as the Pacifica minivan and 200 sedan, are not involved in this investigation. One of the key differences, as the representative told us, is that these vehicles have electronic parking brakes that automatically engage if the driver does not select park and then opens the door with the seatbelt unbuckled. The Ram 1500 and Durango feature mechanical, manually operated parking brakes and therefore cannot activate the brake automatically. Because this is currently an investigation, an exact cause for the incidents has yet to be determined, and none of the vehicles have been recalled. It's possible there could be a mechanical defect. However, the issue could be a confusing interface causing user error, as was the case with FCA's monostable shifters, where drivers think they've put the car in park but actually haven't. Something that indicates it could be a case of confused users is that NHTSA also opened an investigation into 2012–2014 Jaguar XF and Land Rover Range Rover Evoques for similar issues. Both vehicles use a rotary shifter and have had roll-away complaints levied as well. Even if it is a case of user error, FCA and Jaguar Land Rover may still have to recall their vehicles.

Chrysler recalling 644k more Dodge Durango and Jeep Grand Cherokee SUVs over brakes

Early last month, we reported on Chrysler issuing a preemptive, proactive recall for about 25,000 units of the Jeep Grand Cherokee and Dodge Durango. The issue revolved around a brake system that wasn't causing any actual problems, but delivered an unsatisfactory brake feel, so Auburn Hills called in a good 25,000 of SUVs around the world, including 18,700 in the United States.
Now Chrysler, having apparently determined that the brake problem on its sport utes is actually much bigger than it initially realized, has drastically broadened the scope of the recall. As a result, the National Highway Traffic Safety Administration has issued a recall for precisely 655,354 examples of the Grand Cherokee and Durango, covering the 2011 through 2014 model years. In addition, Chrysler is recalling 42,380 units in Canada, 21,376 in Mexico and 159,685 overseas.
The problem which Chrysler found revolves around the brake booster, whose center shell has been found to be subject to corrosion, allowing water to get into the brake system. That water in turn could freeze, preventing the brakes from working as well as expected.