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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

2014 Jeep Cherokee: Long-term wrap-up [w/video]

Sorry, Sweet Brown. Your place in Autoblog history as the most highly demanded long-term car has come to an end. We just finished a one-year test of a 2014 Jeep Cherokee Trailhawk, and after 27,000 miles of hard use, one thing is very clear: this is one of the best all-rounders we've ever tested. The Jeep Cherokee isn't perfect, and our long-term tester proved that. But no compact crossover is. Still, the Trailhawk oozed personality where other small CUVs seem bland, and the Jeep felt more like a trusty companion than just another test car. For road trips, the requests weren't, "Can I have a long-term car this weekend?" They were specific: "I'd like the Cherokee, please." No matter the season, the driver, or the situation, the Jeep was always a sure fit. Fiat Chrysler bet big with this one. It had a global platform, a new engine, and one heck of a funny face. The end result was a CUV that we'd gladly welcome back into our fleet any day. View 51 Photos Our car carried a sticker price of $38,059, but that's without goodies like HID headlamps, a sunroof, or even full leather seats. Lots To Like Admittedly, we picked the Trailhawk trim for cosmetic reasons (more on it's off-road capability in a second). To this day, many of us still think the Cherokee is a homely little thing, but its inherent weirdness doesn't stand out as much when you add the black accents and big, knobby tires of the Trailhawk model. The butched-up look really works here, and we wouldn't have wanted the Jeep any other way. Of course, opting for Trailhawk package meant getting one of Jeep's more expensive Cherokees. Our car carried a sticker price of $38,059, but that's without goodies like HID headlamps (which we could have used – the halogens were pretty weak), a sunroof, or even full leather seats. This car genuinely felt premium, though. Right off the bat, the Cherokee received compliments for its comfortable, supportive seats, not to mention the high quality of interior materials and the general fit and finish. Specifically, the interior packaging won us over early on. We appreciated things like the higher-end stereo, smart layout of the center console, and ample storage, including a bin under the front passenger seat cushion. (That said, we also found that this bin becomes a catch-all for wrappers, french fries, and anything else that might get dropped on the seat.) The Uconnect infotainment system was a joy to use, never giving us any finicky problems or usability issues.

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.