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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.

Buyers ditching expensive European sedans to buy expensive American trucks

The New York Times ended the automotive week with a story that adds numbers and context to a range of other stories, from the crossover craze to the increasing median price of a new car to ever more grandiose pickup trucks. The NYT piece reveals that the shift to larger vehicles isn't merely about the average U.S. buyer swapping the midsize sedan for a Ford Edge. Luxury buyers are migrating from plush sedans to plush SUVs and trucks that creep close to six-figure prices, and the Detroit Three are running Treasury presses because of it. From 2013 to 2017, the truck category — everything from pickups to minivans — climbed from 30 percent of the market to 41 percent. In January of this year, trucks claimed 66 percent of new vehicle sales. At the milk-and-honey end of profits, GMC alone accounted for 11.3 percent of all vehicle sales over $60,000, not just trucks. That puts the luxury truck maker behind Mercedes-Benz and Ford, The Blue Oval's feasting on Lariat, King Ranch and Raptor versions of the F-150, which make up more than half of that pickup's sales, putting it ahead of Chevrolet, Porsche and Lexus on the high-dollar sales list. The average transaction price of a GMC in Denali trim last year was $56,000; it's easy to see why, when one dealer told the NYT he just swapped a 2012 BMW 550i for a $71,000 GMC Sierra Denali. That truck starts at $52,900. The NYT started its story with a buyer who took home a Ford Raptor instead of an Audi A6, and optioned that $50,020 Ford Raptor close to $80,000. Over at Lincoln, the new $72,055 Navigator — the one so popular that Ford will increase production — crossed hands for an average sale price of $77,000 in January. And a Jeep dealer told the NYT that the two $93,000 Trackhawks he had on his lot "won't be here more than a few weeks." While trucks head up in sales volume and price, cars are headed so viciously in the opposite direction that "the Detroit Three and even some foreign manufacturers acknowledge they are now losing money on many of the cars they sell." So ... get ready for a lot more crossovers and trucks. Related Video: Find out what vehicle is right for you. Give our Car Finder tool a try.

2015 Easter Jeep Safari Concepts First Drive

Imagine if once a year your grandmother made a chocolate cake. Not a chocolate cake, that chocolate cake. Blow-your-mind chocolate cake. But she won't ever let you have any – you can only have the spatula and whatever's left over in the mixing bowl. And you don't care. You look forward to that spatula and bowl every year because – "Gadzooks!" – that is some stupendous cake. For us, that cake is the Easter Jeep Safari. An annual pilgrimage to Moab, Utah for a taste of what Fiat-Chrysler's off-road brand has cooked up in its Design Dome. "No, you can't have any," the company tells us, "but you can taste it here, then dream about it until next Easter." In Detroit, Jeep gave us a close look at the seven concepts it built for this year's 49th annual event. Then it went a step further and took those show cars to Mill Canyon, UT, to crawl the red rocks in Jeep's natural habitat. After all, the company calls Moab, "Our home away from home." And it's not true that we never get more than a taste of Jeep's conceptual goodness – 2011's JK8 pickup conversion kit is a slice of Safari creation we can now take home, for instance, as are the hood decals that adorned two of the concepts we drove this year. Pietro Gorlier, President and CEO of Mopar, told us that the evolution of Jeep Performance Parts came from listening to journalists and customers in his first year on the job in 2010. So there's that. But still, we want more cake. Like a full-on production Wrangler Africa. These being one-of-a-kind prototypes traipsing through a canyon of nearly immovable objects, we didn't go fast, we didn't go far, we didn't push hard. But we did drive all the Easter Jeeps, and even just this small taste was outstanding. View 30 Photos Jeep Chief While we listened attentively to the detailed spiels on all this conceptual candy, one question ran through our minds: "How am I going to get in the Chief before everyone else?" And we could see the same thought every colleague's face, those scheming bastards. And why not? The Ocean Blue tribute to the venerable Cherokee of old grabbed everyone's attention since the first teaser images weeks before the event, in part because the vintage truck is up there with mermaids for rarity and lustworthiness. Anything that goes this far in obeisance to that classic Jeep is always going to score huge marks. The Chief is a four-door Wrangler underneath, but in many ways it feels nothing like a Wrangler.