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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

NHTSA still mulling crash tests for recalled Jeeps

Well, no one should ever accuse the government of not giving things plenty of thought. The National Highway Traffic Safety Administration is still debating whether it will retest any of the 1.56 million 1992 to 1998 Grand Cherokees and 2002 to 2007 Libertys that were part of a recall regarding fires after rear-end collisions. And yes, this debate has been going on for over a month. In other news...
The recall dustup started in early June, when Chrysler took the unusual position of refusing a recall request from NHTSA regarding placement of the fuel tank on the effected vehicles. NHTSA said a collision could cause a fire, a position Chrysler took issue with. Extensive negotiations ensued, with Chrysler agreeing to fit certain Jeeps with trailer hitches, which it said would provide some protection to fuel tanks mounted behind the rear axle in the event of a collision.
Part of the issue rests with the amount of data that needs to be processed, according to The Detroit News. NHTSA administrator David Strickland said during a Washington Auto Press Association meeting, "There's a lot of data and Chrysler is being very cooperative in giving us more data." Until that information has been sorted, it looks like re-testing will still be up for debate.

CES 2021, Jeep Grand Cherokee L, and driving the Ford Mustang Mach-E and F-150 PHEV | Autoblog Podcast #660

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick. They talk about driving Ford's Mustang Mach-E and F-150 plug-in hybrid, as well as the Ram TRX and Genesis GV80. They recap CES 2021, as well as the enormous display screens featured in new cars at the show. They also discuss the reveal of the new three-row Jeep Grand Cherokee L. Lastly, they reach into the mailbag to talk about vehicle comfort. Autoblog Podcast #660 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving2021 Ford Mustang Mach-E Premium AWD 2021 Ford F-150 Platinum PHEV 2021 Ram 1500 TRX 2021 Genesis GV80 Other news CES 2021 2021 Jeep Grand Cherokee L Mailbag Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: