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Fiat Chrysler posts record Q3 profit thanks to U.S. trucks and Jeep

MILAN — A rebound in car production in Fiat Chrysler on Wednesday reported record third-quarter earnings as production returned to nearly pre-pandemic levels. The Italian-American automaker, which is finalizing its full merger with French rival PSA Peugeot, reported a net profit in the three months ending Sept. 30 of $1.4 billion (1.2 billion euros). That compares with a loss of 179 million euros a year earlier. The carmaker reported adjusted earnings before tax and interest in North America of 2.5 billion euros. That offset deepening losses in Europe, Asia and at its Maserati luxury marquee. Latin America, the only other region to post a profit, saw it narrow by two-thirds to 46 million euros. “Our record results were driven by our teamÂ’s tremendous performance in North America,” CEO Mike Manley said in a statement. Overall, the carmaker said global earnings before tax and interest were a record 2.3 billion euros despite a 6% fall in revenues to 26 billion euros. Global shipments were down 3%, due largely to plant retooling in North American to produce the new Jeep Grand Wagoneer in the luxury SUV segment and the discontinuation of the Dodge Grand Caravan classic minivan. Fiat Chrysler announced earlier Wednesday that its merger with PSA Peugeot is on track to be finalized by the end of the first quarter of 2021, as planned. To meet regulatory concerns, the French carmaker is selling a small stake in a components maker to get below 40% ownership. The new automaker, to be called Stellantis, will be the fourth biggest producer in the world. Earnings/Financials Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

Dodge Challenger Hellcat drift video is pure horsepower porn

We could listen to the whining, snarling 6.2-liter Hemi V8 in the Dodge Challenger and Charger Hellcats all day long. The noise just sounds like power that's being barely restrained and is everything about a muscle car that's right. The team at Pennzoil apparently understands that allure, too. The oil company has a new video where it lets the engine roar for over a minute, while a Challenger does some big, smoky drifts through an abandoned city. The whole stunt is edited together in a slickly produced way that looks fantastic. Although, the big finale might go a little too far and starts straining believability. Nonetheless, the Hellcat's wonderful noise is still the star of this show. Related Video:

Work at a Chrysler dealership, get free college education

The cost of a college education in the US can put a student tens (hundreds, in some cases) of thousands of dollars into debt. FCA US wants to give its dealership employees a leg up, though, and the automaker is now offering a completely free education to them through a partnership with Strayer University. The workers can take any of the college's classes online or on campus through program called Degrees@Work. Currently, the offer is only available to employees Chrysler, Jeep, Dodge, Ram and Fiat dealers in the automaker's Southeast region, which includes Florida, Georgia, South Carolina, North Carolina, Alabama and Tennessee. However, a national expansion will happen before the end of the year, Strayer spokesperson Cristina Henley tells Autoblog. The program will cover all of the students' expenses, including their books, according to Henley. FCA US sees this partnership as a way to improve the talent of its workforce, retain employees longer and possibly attract people wanting to take advantage of this free education. "Many of our dealers have expressed concern over the availability of talent to fill open positions due to business growth and turnover in their stores, especially in metro markets," Al Gardner, the company's Head of Dealer Network Development, said in the Degrees@Work announcement. Strayer has about 40 programs available, including in business administration, accounting, marketing, and more, and the university offers associate's, bachelor's, and master's degrees. It will also give FCA US employees credit for their work experience to get them a diploma even more quickly. FCA US Dealers to Offer Employees No-Cost, No-Debt College Education FCA US teams with Strayer University to develop first-of-its-kind dealer program Degrees@Work program open to all employees of participating dealerships Employees can earn no-cost, no-debt degree through Strayer University All Chrysler, Jeep®, Dodge, Ram and FIAT dealerships may participate First phase of program rollout begins with dealers in the FCA US Southeast Business Center National rollout expected later this year May 4, 2015 , Auburn Hills, Mich. - Employees of Chrysler, Jeep®, Dodge, Ram and FIAT dealerships will have the unique opportunity to earn a no-cost, no-debt college degree through Strayer University's Degrees@Work program, developed in collaboration with FCA US LLC. FCA US is the only company in the automotive industry to offer the program.