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Chrysler nets $1.6B income in Q4, Fiat profit up 5%

Chrysler announced its 2013 financial results today and unveiled its new name and decidedly bank-like logo. Amid the announcement, Chrysler posted big gains in income, while Fiat didn't perform to analysts' expectations.
For 2013, Chrysler had revenue of $72.1 billion, up 10 percent from 2012. Net income reached $2.8 billion, a 65-percent increase. It was the company's third straight year of annual profits.
In terms of unit sales, Chrysler sold 2.4 million cars worldwide in 2013, up 9 percent. According to Automotive News, 1.8 million of those vehicles were sold in the US, a 14-percent increase. The sales growth boosted Chrysler's US market share to 11.4 percent, up 0.2 percent.

AEV Jeep Wrangler Unlimited Rubicon

After their rented 2007 Hummer H3 failed them during the brutal Rallye Aicha des Gazelles in Morocco, Amy Lerner and her sister Tricia Reina were on a quest to find the most capable production off-roader for their next competition - they chose a 2012 Jeep Wrangler Unlimited Rubicon. Their next mission was to find a company with the competence to configure it to win. After poring over Internet forums and perusing countless magazines for an outfitter who could meet their demanding requirements, they sent their bright orange JK ("Crush" is the official color) to American Expedition Vehicles (AEV) for some modifications.
The Michigan-based team at AEV kept the Jeep's 3.6-liter V6 and automatic transmission stock, but replaced the hood with a tall AEV Heat Reduction Hood and added an AEV Snorkel Kit for water crossings (it serves double-duty as its raised height helps to keep the air intake out of the kicked-up dust on the trail). Front and rear off-road bumpers were bolted in place, and AEV skid plates were added to provide additional undercarriage protection. A pair of IPF-900 off-road lights improve visibility, while a 10.2-gallon AEV Fuel Caddy (located behind the exterior spare) added some range. The suspension was upgraded with a 3.5-inch lift kit with Bilstein remote reservoir shocks, and 35-inch Falken Wildpeak A/T tires (LT285/70R17) were mounted at all four corners on AEV's beadlock wheels.

Certain Chrysler owners eligible for buyback program

Certain car owners whose Chrysler vehicles contain dangerous defects will soon have a way to get rid of their lemons without losing money. As part of an agreement with federal regulators, Fiat Chrysler Automobiles has agreed to buy back more than 500,000 vehicles susceptible to veering out of control without warning at above market-value prices. The deal mainly covers certain models of RAM trucks, the Dodge Dakota pickup and Dodge Durango SUV. Further, owners of more than 1.5 million Jeep Liberty and Grand Cherokees at heightened risk for lethal fires are eligible to trade in their vehicles at above market value or, alternately, get a gift certificate if they prefer to have repairs made. Chrysler has "a heavy responsibility to make sure the products they make are safe for the traveling public," said Mark Rosekind, administrator of the National Highway Traffic Safety Administration. "... Here, we are sending an unambiguous signal to industry that if you skirt the laws or violate the law, or don't live up to the responsibility that consumers expect, we are going to penalize you." The buy-back and trade-in options for motorists come as part of an unprecedented penalty NHTSA slapped against Chrysler for violating federal motor-vehicle safety laws. Chrysler will pay a $105 million fine, the highest ever levied by the regulatory agency. In addition to the buy-backs, Chrysler also agreed to an independent monitor for three years. Investigators had outlined problems in the company's conduct in 23 recalls that affected more than 11 million defect vehicles. As part of a consent-order agreement, Chrysler acknowledged it did not notify vehicle owners of recalls in an effective manner and did not notify NHTSA of safety problems. Though those recalls affected millions of drivers, the buy-back and trade-in options are only for a small portion of the vehicles involved. Because Chrysler struggled to fix the problem and no repair was apparent, Rosekind said the buy-backs are reserved "for customers who didn't have a remedy." Buy-backs are for trucks and SUVs affected by three recalls that occurred in 2013 (recalls 13V-038, 13V-527 and 13V-529), that addressed a rear-axle pinion nut that could come loose and cause a loss of vehicle control. Those recalls covered 579,228 vehicles, including 2009-2012 Ram 1500, 2500, 3500, 4500 and 5500 trucks, 2009-2012 Dodge Dakotas, 2009 Chrysler Aspen and the 2009 Dodge Durango.