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Weekly Recap: FCA hit with record fine as NHTSA crackdown continues

The National Highway Traffic Safety Administration slapped Fiat Chrysler Automobiles with a record fine this week that could reach $105 million. The punishment comes after NHTSA found problems with the automaker's execution of 23 recalls that affect more than 11 million vehicles. The consent agreement, announced Sunday, calls for FCA to pay a $70-million cash fine and requires the company to spend at least $20 million over a three-year period on industry outreach programs and to beef up old recall campaigns. Failure to comply will result in another $15-million fine. FCA also agreed to federal oversight, which includes an independent monitor to oversee the company's recalls. The $70-million cash fine equals a penalty NHTSA levied on Honda in January. "Fiat Chrysler's pattern of poor performance put millions of its customers and the driving public at risk," NHTSA administrator Mark Rosekind said in a statement. "This action will provide relief to owners of defective vehicles, will help improve recall performance throughout the auto industry, and gives Fiat Chrysler the opportunity to embrace a proactive safety culture." FCA called the deal a "consensual resolution," but admitted that it "failed to timely provide an effective remedy" during certain recalls. "We are intent on rebuilding our relationship with NHTSA and we embrace the role of public safety advocate," the company said in a statement. The announcement kicked off a busy week for the automaker. NHTSA agreed FCA did not need to recall 4.7 million vehicles after an investigation failed to find defects with a power module used in some Jeep, Dodge, and Ram vehicles. A Georgia judge also reduced a civil verdict involving a death in a Jeep Grand Cherokee crash. Amid all of that, the company reported net profit of about 333 million euros, or $364 million in the second quarter on Thursday. OTHER NEWS & NOTES FCA ramps up Hellcat production Despite a decidedly legal and financial week for FCA, there was still time for the performance side of the business to briefly grab the spotlight. The automaker is more than doubling its production of the Dodge Challenger and Charger SRT Hellcats in response to strong demand. The order bank opens the second week of August and production begins in September. FCA will finish up its scheduled 2015 model-year Hellcat builds, and cancel any "unscheduled" versions, though customers will get discounted pricing for 2016.

Dodge Hellcats change their stripes for 2016

If you've been on the fence about ordering up a new Dodge with Hellcat power, this might just provide the extra incentive you were looking for. Starting this month, Dodge is offering a new stripe option, exclusive to its most powerful muscle cars. The SRT Hellcat stripes are now available to order on the top-of-the-line, 707-horsepower versions of both the Charger and Challenger. The dual full-length stripes run all the way up from the front lip, over the grille, up the hood, accentuating the NACA duct, along the roof, down the trunklid, across the rear spoiler, and down the rear bumper. They feature a carbon-fiber texture, and can be ordered with any of eleven colors for an extra $995. Along with the stripes, Dodge has also announced that it is extending the availability of the exclusive Plum Crazy color – which was originally scheduled to expire at the end of December – for another month. The throwback hue can be ordered on Charger and Challenger models ranging from the SXT through the R/T models all the way up to the SRT 392 and Hellcat. 2016 CHALLENGER AND CHARGER SRT HELLCAT MODELS EARN EXCLUSIVE STRIPES, DODGE EXTENDS PLUM CRAZY PAINT - All-new SRT Hellcat dual exterior stripe design adds even more Dodge attitude to 2016 Challenger and Charger SRT Hellcat models - SRT Hellcat-exclusive dual full-length carbon-fiber pattern stripes provide a customized-from-the-factory look - Dealers will start taking orders for Hellcat stripes in January 2016 - SRT Hellcat dual stripes have a U.S. Manufacturer's Suggested Retail Price of $995 - Dodge is answering enthusiast demand for Plum Crazy exterior paint with an additional one-month run of the legendary and limited-edition high-impact hue January 8, 2016 , Auburn Hills, Mich. - For more than a year, Dodge Challenger and Charger SRT Hellcat models — the fastest and most powerful muscle cars ever with 707 supercharged HEMI® horsepower each — have stormed roadways and drag strips with acceleration blasts to 60 mph in the low 3-second range, generated more than 61 million sensational YouTube video views around the globe, enabled an entirely new generation of Dodge enthusiasts and now for 2016 have been rewarded with their very own Dodge performance stripes.

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.