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Stellantis expects strike to cost it $795 million in third-quarter profits

MILAN — Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. The net revenue boost was due to higher volumes in all markets except Asia. Chief Financial Officer Natalie Knight told journalists that StellantisÂ’ strike impact was lower than the other Big Three automakers due to its global profile as well as some high-profile cost-cutting measures, calculating the hit at around 750 million euros ($795 million.) GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. Ford has put its impact at $1.3 billion. “We continue to be in a very strong position globally and in the U.S. This is an important market for us, and weÂ’re highly profitable and we are very committed to our future," Knight said. “But mitigation is core to how we act, and how we proceed.” Stellantis has canceled appearances at the CES technology show in Las Vegas next year as well as the LA Auto Show, due to the strike impact. Stellantis on Saturday reached a tentative agreement with the United Auto Workers Union to end a six-week strike by more than 14,000 workers at its assembly plants in Michigan and Ohio, and at parts warehouses across the nation. Stellantis does not report full earnings for the third quarter, instead providing shipments and revenues. It said that global sales of electric vehicles rose by 37% over a year earlier, powered by the Jeep Avenger and commercial vehicle sales. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%. Related video: Earnings/Financials UAW/Unions Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM

Blake Anderson drives an over-the-top patriotic Jeep

Comedian Blake Anderson is seeing growing success as one of the stars and co-creators of the Comedy Central show Workaholics. Not surprisingly, when you get your own TV show, there's a deep desire to celebrate with a big purchase, a car perhaps. Anderson did just that, but as opposed to plunking his money down on a Porsche or Mercedes-Benz, he took a much more patriotic route. Anderson described his ride as "an American Jeep" in an interview with Conan O'Brien, and he didn't mean that it was from the AMC years of the off-road brand's ownership. Instead, this one is as patriotic as they come thanks to a beautifully regal bald eagle covering the hood with the nation's flag as the background running up at least to the windshield. Hear Anderson's entire story of buying this red, white and blue off-roader in the video above.

2014 Jeep Grand Cherokee

Jeep appears to have nailed it this time. After two decades of assembling its Grand Cherokee sport utility vehicle, the American automaker has finally delivered a world-class off-roader capable of taking on everything in its segment - and more - with a high likelihood of coming out on top.
And if you drove last year's model, it's time to climb behind the wheel again as Jeep has significantly updated the SUV for 2014 with a bold new exterior appearance, an upgraded interior with enhanced electronics and a new transmission that completely transforms the way it drives.
We recently spent a full week with a dark blue 2014 Jeep Grand Cherokee Overland 4x4, a well-optioned model fitted with the standard gasoline-fed V6. While it didn't have the punch of the range-topping V8-powered SRT8, or the fuel-sipping economy of its new EcoDiesel sibling, the high-volume variant left us quite impressed.