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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

Chrysler set to make $266M-investment into 8-speed transmission production

Chrysler will shortly make a significant $266-million investment into its Kokomo, IN transmission factory in a bid to expand production of its eight-speed automatic transmissions. The gearboxes, which are built under license from Germany's ZF Friedrichshafen, have been well received by customers and critics, and according to an SEC filing obtained by Automotive News, the transmissions will eventually find their way to all of Chrysler's rear-drive offerings (Viper and heavy-duty Ram models, aside). According to AN, a Chrysler spokesman says the investment has not been confirmed, but once it is, it'll mark the company's latest in a growing line of investments at the facility. Chrysler has poured $1.5 billion into Kokomo since 2009.

Daily Driver: 2015 Jeep Wrangler Unlimited X Edition

Daily Driver videos are micro-reviews of vehicles in the Autoblog press fleet, reviewed by the staffers that drive them every day. Today's Daily Driver features the 2015 Jeep Wrangler Unlimited X Edition, reviewed by Adam Morath. You can watch the video above or read a transcript below. Watch more Autoblog videos at /videos. VIDEO TRANSCRIPT Hi, I'm Adam Morath for Autoblog. Now, undoubtedly, one of the coolest things about this job is that you're in and out of so many different vehicles, but, I'll be honest, there are times where, if you're in very similar vehicles, they can start to run together a little bit. That's why I love getting into a car like this that just snaps you right out of it because it's so unique and so different from anything else on the market. Of course I'm talking about the Jeep Wrangler. I'm in a 2015 Jeep Wrangler Unlimited. This is the X Edition, which stands for X Games. Jeep is a big title sponsor of the 2015 Aspen X Games and you can see that all over this vehicle. You have white, glossy accent plastic in the interior; mountain graphics throughout the interior and exterior of the vehicle – a nod, obviously, to the winter sports and skiing that you would do out in Aspen. And then in keeping with that mountainous theme, you have an Alpine nine-stereo speaker system. I'll be honest, though, that some of it feels a little overdone to me. For instance, there's a power-bulge in the hood. Credit to Jeep: the vents are actually functional, but this is not the trim I would go for, just personally. It's one of those vehicles that people are always wondering, "I really like the look of it [and] I like the capability, but could I live with a Wrangler?" It's the same sort of question you'll get from people who are looking at a sports car, "could I actually live with this is my daily driver?" And I have to say, Jeep has come a long way – Wrangler, in particular, has come a long way – in terms of driving comfort. Of course, don't expect "Lexus quiet." You can probably hear it's a big noisy in the cabin. It's a bit of a bumpy ride. There are things about this vehicle that I could see being annoying in your day-to-day life. For instance, the door: it's essentially an external hinge on the door, but it doesn't stay open for you. So, if you're on any sort of a tilt, the door will come back in and you have to just prop it open with your leg. Little things like that.