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Chrysler banks $507 million in Q2, trims 2013 earnings forecast

Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $1.7 and $2.2 billion, according to Automotive News.
In addition to the adjusted net income forecast, Chrysler tweaked its operating profit from $3.8 billion to between $3.3 and $3.8 billion. This has gone largely unexplained by Chrysler, perhaps hoping the news of a three-percent increase in its transaction prices for Q2 will allow it to sweep this adjustment under the rug.
The star of the show for Chrysler has been its US sales, which saw a 10-percent jump, both bettering the industry average of eight percent and improving over the same stretch of 2012. As with the increase in transaction prices, Chrysler has the new Ram pickup and Jeep Grand Cherokee to thank. Perhaps most worrying from this report, though, is that every brand in the automaker's stable saw an increase in sales... except for the Chrysler brand itself.

Jeep Cherokee finally dealer-bound

We had our First Drive of the 2014 Jeep Cherokee last month, but it appears that prospective buyers won't have too much longer to finally get time behind the wheel of the new small Jeep.
Automotive News is reporting that after a two-month delay, Jeep dealers will finally start receiving their first shipments of the new Cherokee, in the next 10 days. A Chrysler spokesperson confirmed to Autoblog that the Cherokee is indeed on its way to Jeep dealers.
According to AN, about 23,000 Cherokees have been built since production commenced back in June, but potential powertrain issues forced Jeep to make adjustments to the Cherokee along the way. Automotive News says that in order to make sure there are no issues with the Cherokee before it reaches customers, it is testing each vehicle after it rolls off the assembly line at a rented test track near the vehicle's Toledo North Assembly Plant.

Jeep Grand Cherokee, Dodge Durango still catching fire after recall

Automakers issue recalls all the time. It's part of the cost of doing business. We just assume that once the recall has been carried out, the problem in question has been fixed. But that's not always the case, as this latest investigation being undertaken by the National Highway Traffic Safety Administration goes to show. The problem stems back to a recall issued by Chrysler last summer. It revolved rather the sun visor in the SUVs it makes at its Jefferson North Assembly Plant – specifically, the screw affixing the sun visor could end up rubbing against the wiring for the lamp in the vanity mirror, potentially causing an electrical short and even a fire. 62 such short circuits, 38 fires and three injuries reported, prompting Chrysler to recall nearly 900,000 units of the 2011-2014 Jeep Grand Cherokee and Dodge Durango (over 650,000 of them in the United States). The plastic spacers they installed to rectify the problem, however, may not have done the trick. Eight reports (but none involving injuries) have been filed with the NHTSA regarding the same issue recurring, spurring the government agency to open a new investigation into the matter. If deemed necessary, the NHTSA could ask FCA to issue another recall to fix the issue again, which we may necessitate the installation of a fuze to prevent any such the electric short. Related Video: INVESTIGATION Subject : Headliner Fires Date Investigation Opened: MAY 01, 2015 Date Investigation Closed: Open NHTSA Action Number: RQ15003 Component(s): ELECTRICAL SYSTEM , INTERIOR LIGHTING Manufacturer: Chrysler (FCA US LLC) SUMMARY: On July 1st, 2014 Chrysler (FCA US LLC) issued safety recall 14V-391 to remedy a wiring-related fire hazard on the headliner of approximately 661,888 model year (MY) 2011-2014 Jeep Grand Cherokee and Dodge Durango vehicles manufactured between January 5, 2010 and December 11, 2013. The recall was in response to the Office of Defects Investigation (ODI) investigation EA14-001 during which data provided by Chrysler indicates that the fire is caused by an electrical short in the vanity lamp wiring for either one of the sun visors mounted on the vehicle. The sun visors are mounted to the roof of the vehicle through the headliner with three metal screws.