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Fiat Chrysler posts record Q3 profit thanks to U.S. trucks and Jeep

MILAN — A rebound in car production in Fiat Chrysler on Wednesday reported record third-quarter earnings as production returned to nearly pre-pandemic levels. The Italian-American automaker, which is finalizing its full merger with French rival PSA Peugeot, reported a net profit in the three months ending Sept. 30 of $1.4 billion (1.2 billion euros). That compares with a loss of 179 million euros a year earlier. The carmaker reported adjusted earnings before tax and interest in North America of 2.5 billion euros. That offset deepening losses in Europe, Asia and at its Maserati luxury marquee. Latin America, the only other region to post a profit, saw it narrow by two-thirds to 46 million euros. “Our record results were driven by our teamÂ’s tremendous performance in North America,” CEO Mike Manley said in a statement. Overall, the carmaker said global earnings before tax and interest were a record 2.3 billion euros despite a 6% fall in revenues to 26 billion euros. Global shipments were down 3%, due largely to plant retooling in North American to produce the new Jeep Grand Wagoneer in the luxury SUV segment and the discontinuation of the Dodge Grand Caravan classic minivan. Fiat Chrysler announced earlier Wednesday that its merger with PSA Peugeot is on track to be finalized by the end of the first quarter of 2021, as planned. To meet regulatory concerns, the French carmaker is selling a small stake in a components maker to get below 40% ownership. The new automaker, to be called Stellantis, will be the fourth biggest producer in the world. Earnings/Financials Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

2015 Ram ProMaster City Wagon [w/video]

At the tail end of 2014, I brought you a First Drive feature on the new Ram ProMaster City cargo van, a remarkably solid entry into the exploding light-commercial segment. While I was down in Austin, TX playing with those box vans, I also had time to sample Ram's slightly more civilized version, the ProMaster City Wagon. From the driver's seat forward, the Wagon and Tradesman (Ram's name for the cargo version) are practically the same, but the former trim is a lot different in the back section. The rear gets a folding, three-passenger-wide bench seat in the middle, and a carpeted cargo area behind that. This isn't exactly a new formula for the market; Ford has been selling a passenger-friendly five-seat version of its Transit Connect for a few years now. But the baby Ram is another competitor for small business owners in need of shuttles and such, or individuals who place a premium on interior space over creature comforts. Drive Notes Just as with the cargo version, the 178 horsepower and 174 pound-feet of torque from the 2.4-liter four-cylinder makes the City Wagon feel ably fast in urban traffic. Our short driving loop (along with the dozens of extra miles I logged around Austin), didn't offer much in the way of high-speed cruising, but I did dice with other city drivers confidently. The engine pulls adroitly if you really trample the throttle, though it certainly won't tempt you to race that punk kid at the red light. Handling is nippy relative to the size of this small van, with a tight turning circle and quick turn-in around town. The added weight in the back offered by the seats and trim – not quite 200 pounds – also helps to dampen the ride and improve smoothness over the road. The Short Cut video at the bottom of the page was shot with a cargo version of the City, but it should give you the general idea about the nimbleness herein. The extra seats, carpeting and stuff found inside the wagon also do a successful job of masking the strained sound of the engine and exhaust when you do rip through those nine gears. The ProMaster City Wagon is a significant number of decibels quieter than the Tradesman always. That said, no one will ever mistake this Ram for a Lexus; wind and road noise can be heard at all speeds. Ram has effectively cut the cargo area in half compared to the box van version; though bias seems to have been given to cargo over passengers.

May 2016: FCA wins, Ford and GM stumble on weak car volumes

The May 2016 sales numbers are in, and it looks as though FCA is getting some vindication for boldly cancelling two slow-selling car models. Meanwhile, Ford saw overall sales dip and GM's May volume took a big dive versus the same month in 2015. While Marchionne's decision to axe the Chrysler 200 and Dodge Dart has drawn criticism as being short-sighted, it's working for FCA so far. Although the Dart and 200 aren't out of production yet and no capacity has been shifted to crossover or trucks, May's numbers show that the emphasis on Jeep and Ram models makes sense right now. FCA's US sales rose 1 percent last month compared to May 2015, putting the year-to-date total at 955,186 vehicles, an increase of 6 percent compared to the same period last year. Standouts included the Jeep Renegade, Compass, and Patriot, and the Fiat 500X. Ram pickup sales were down 3 percent. And your fun fact is that Alfa Romeo sales were up precisely 10 percent, for a total of 44 4Cs sold versus 40 in the same month last year. At FoMoCo, the Ford brand took a hit to the tune of 6.4 percent from May 2015 to 2016, registering 226,190 sales last month. Lincoln showed improvement on its modest numbers, going from 9,174 to 9,807, a 6.9 percent increase. Overall, Ford was down 5.9 percent for the month to 235,997; despite the slump, year-to-date total Ford sales are up 4.2 percent to 1,112,939. Strong sellers included Escape, Expedition, F-Series, and Transit - big stuff. Most small and/or efficient models (Fiesta, Focus, Fusion, C-Max) saw sales slides. Fusion sales were also down, likely due to effects of model changeover to the freshened 2017 model. Ford has promised four new crossovers and SUVs by 2020 and if things keep trending this way the company will be able to sell them, but things could change in the next four years. GM saw the worst of it for domestic brands. Retail and fleet sales were down for each of the four divisions, with the May 2016 total dropping 18 percent to 240,450 vehicles. GM's year-to-date sales are down 5.0 percent in 2016 to 1,183,705. Both the Sierra and Silverado were down significantly, and the majority of Chevy, Buick, GMC, and Cadillac nameplates saw sales decreases, with both small cars and larger utilities included. Not even big stuff could help GM this month, it seems. We'll have more on the rest of the industry's May sales as those figures trickle in.