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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.

Sunday Drive: Spying an automotive future of performance

I spy, with my little eye ... the future of the automotive world here in the United States. That pretty much sums up this week's Sunday Drive, in which we pull out the most popular stories on Autoblog of the previous week and try to draw some sort of conclusion as to what binds them all together. This week, it's spy shots, starting with one of the biggest and baddest muscle cars the world has ever seen: the Dodge Challenger Hellcat. The Hellish coupe gets a new hood for 2019 with dual scoops, but that's about the only meaningful change for the new model year. No matter. As long as it's packing 700-plus horsepower under those two hood scoops, all will be right with the world. Moving on, we take keep the performance angle but move it from the street to the dirt with a new version of the Chevy Colorado ZR2 that we think is probably called the Bison. We think it'll keep the high-tech suspension bits of the regular ZR2, but add expedition gear that may include a snorkel and a winch. Which, if true, is pretty dang cool. Keeping the truck theme is the 2019 GMC Sierra. There's nothing particularly noteworthy about the trim level in which the truck was spied, and that's what makes this specific example interesting. Base-model trucks almost never get much attention, but they sell in droves to workers who need an honest-to-goodness truck for work or play and don't care about bells, whistles, or massive chrome badges. And finally we have the 2018 Jeep Wrangler, which is on fire on the sales floor right now. But those are all V6-powered Wranglers flying off the showroom floor. Soon, a turbocharged four-cylinder engine option will become available, and now we know that it will return up to 23 miles per gallon in the city and 25 on the highway. That makes it the most fuel efficient Wrangler that Jeep has ever sold. As always, stay tuned to Autoblog this week for all the automotive news that's fit to publish. 2019 Dodge Challenger Hellcat with twin-scoop hood spied with no camouflage Chevy Colorado ZR2 Bison caught testing 2019 GMC Sierra 1500 spied in base trim level 2018 Jeep Wrangler four-cylinder fuel economy revealed Spy Photos Chevrolet Dodge GMC Jeep Truck Coupe SUV Off-Road Vehicles Performance dodge challenger srt hellcat sunday drive

Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall