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Fiat Chrysler's Q3 profit boosted by strong North American earnings

MILAN, Italy — Fiat Chrysler Automobiles (FCA) reported a 17 percent jump in third-quarter adjusted operating profit on Tuesday, helped by a strong performance in its key North American market and improving operations in Europe and Latin America. The world's seventh-largest carmaker still makes the lion's share of its profits in North America, so improving, or at least maintaining, its margins there is a key focus. The carmaker reported an 8 percent adjusted operating profit margin in the region, up from 7.6 percent a year ago, despite a drop in sales and shipments. "FCA's profitability in North America remained strong in the quarter despite a weakening market there," a Milan-based analyst said. FCA's profitability compares with an 8.3 percent North America margin reached in the quarter by bigger U.S. rival GM , showing CEO Sergio Marchionne making progress towards his goal of closing the margin gap with GM and the company's other U.S. rival, Ford, by 2018. The company's confirmation of its full-year outlook also pushed shares higher, a trader added. The stock was up 2.8 percent by 1129 GMT, outperforming a 1 percent rise in the European auto index. FCA has been retooling some U.S. factories to boost output of sport-utility vehicles (SUVs) and trucks while ending production of some unprofitable sedans to strengthen profitability as the U.S. car market comes off its peak. The company said a drop in North America shipments due to lower fleet sales and discontinued models was partially offset by higher deliveries of Ram trucks and two models from the Alfa Romeo stable: the Stelvio sport utility vehicle and Giulia sedan. Profitability also improved in Europe, helped by sales of the Stelvio and the new Jeep Compass, and Latin America, while margins at Maserati remained strong at 13.8 percent due to strong demand for its first SUV, the Levante. In a later conference call, investors are looking for hints on the new strategy to 2022 which the company promised to unveil early next year. Chief Executive Sergio Marchionne said earlier this year that FCA would streamline its portfolio and that components businesses, including Magneti Marelli, would be separated from the group, possibly via a spin-off. While FCA confirmed its targets this year, doubts remain about its exposure to a weakening U.S. market, recall costs and potential fines over emissions after it was targeted by European and U.S.

Chrysler Recalls 350K Vehicles To Fix Ignition Switches

Chrysler is recalling nearly 350,000 cars and SUVs to fix ignition switches that could unexpectedly shut off the engines. The recall covers 2008 Jeep Commander and Grand Cherokee SUVs, Chrysler 300 and Dodge Charger sedans, and Dodge Magnum wagons. All were built before May 12, 2008. Chrysler says the ignitions may not fully return to the "on" position after being started. The switches could move to "accessory" or "off." That could shut off the engine and knock out power-assisted steering and other features. Chrysler knows of one crash and no injuries from the problem. It's telling people to use the key alone in the ignition and confirm that switches have returned to "on" after starting their cars. Chrysler is investigating the cause. Customers will be notified when repairs are ready. Related Gallery The Trucks And SUVs Consumers Are Liking Most View 11 Photos

2013 Jeep Wrangler Moab Edition

There will forever be a soft spot in my heart for the Jeep Wrangler. The last one I owned was red, and, as a 1990 model, had the square headlights derided by Jeep enthusiasts who grew up on the Civilian Jeeps that descended from their General Purpose military ancestors. As a teenager, I couldn't have cared less what shape its headlights happened to be - to me, a Jeep Wrangler represented freedom; a carefree do-it-all machine equally at home with the top stowed away in the summer or with the heater on full blast in the snowy clutches of Old Man Winter. In Dr. Seuss parlance, my square-headlighted Sneetch was just as worthy as any round-headlighted Sneetch.
All that said, I'll be the first person to advise against buying a Jeep Wrangler of any sort for owners who don't plan to use it as its makers intend. There's no good reason to punish yourself with a stiff and springy ride, a loud and somewhat drafty (though generally water-resistant) interior or the poor fuel economy expected of a block-shaped vehicle if you don't enjoy its other, more exciting benefits.
Of course, Jeep has done its darndest over the years to make the Wrangler as civilized as possible while keeping it as capable as federal law will allow. The 2013 Jeep Wrangler Moab edition is one of Jeep's latest attempts to attract attention from the upper reaches of the active lifestyle set, and I spent a week with one to see what makes the Moab special.