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Chrysler reports $166M net income for Q1, down $307M vs. 2012

Preliminary first-quarter results from 2013 have been announced by Chrysler, and the company is reporting a net income of $166 million on revenue of $15.4 billion. Compared to this period last year, net income is down $307 million and revenue has dropped $1 billion.
Chrysler says that its quarter was negatively affected by the costs associated with launching its 2013 Ram Heavy Duty, 2014 Jeep Grand Cherokee and preparation for the return of the all-new 2014 Jeep Cherokee pictured above. The launches should provide a strong second half of 2013, says the automaker. "We remain on track to achieve our business targets, even as the first-quarter results were affected by an aggressive product launch schedule," said Chrysler Group LLC Chairman and CEO Sergio Marchionne.
On a positive note, the automaker says worldwide vehicle sales are up 8 percent from one year ago, a number pushed by a 12 percent bump in U.S. retail sales. In addition, domestic market share has risen slightly, up to 11.4 percent from 11.2 percent last year. Read more in the official statement below.

2018 Jeep Wrangler to get 8-speed auto

Remember when the Jeep Wrangler had a three-speed automatic? That wasn't that long ago – as recent as the 2007 redesign – but Chrysler is keen to leave those days behind on the dusty trail. The current model ushered in a four-speed, then a five-speed, but the latest intel indicates that an eight-speed automatic is in the cards. According to a report filed with the Securities and Exchange Commission, and cited by Automotive News, Jeep plans on fitting its eight-speed automatic transmission to the next-generation Wrangler. Chrysler already uses the ZF-sourced slushbox on the Jeep Grand Cherokee, Ram 1500, Chrysler 300, and versions of the Dodge Challenger, Charger and Durango. But according to the SEC filing, the Auburn Hills automaker intends "to use this transmission in all of our rear-wheel-drive vehicles, except for heavy-duty versions of the Ram pick-up truck and the SRT Viper." AN says that Chrysler wanted to slot the transmission straight into the current Wrangler, but it wouldn't fit. Between the transmission and shift to aluminum construction, the next-generation Wrangler promises to deliver a significant reduction in fuel consumption. In correspondence with Autoblog, however, company spokesmen declined to comment on the eight-speed's suitability towards either the current Wrangler or the upcoming one.

2014 Jeep Cherokee will keep Liberty designation in China... sort of

Chinese buyers will get their first live look at the 2014 Jeep Cherokee during the Shanghai Motor Show, but CarNewsChina is reporting that it will go by a different name - Ziyou Guan, which translates to "Liberty Light." The article states that our Jeep Liberty was never sold in China, but the iconic XJ Cherokee was sold and produced there as the Qinuoji (a phonetic translation of Cherokee).
The new Jeep Liberty Light will be built alongside the Fiat Viaggio (China's Fiat-badged version of the Dodge Dart) at the Guangzhou-Fiat plant, and the two models will share the same powertrains: a 1.4-liter turbocharged four-cylinder base engine paired to a five-speed manual or a dual-clutch transmission and a 2.4-liter four-cylinder (the base engine for the US-spec 2014 Cherokee) as an optional engine. It doesn't sound like the 3.6-liter Pentastar V6 will be offered in China.
We'll be on hand when the new Jeep debuts in Shanghai, so stay tuned to Autoblog this Friday night and Saturday for our live coverage of the show.