Fiat Chrysler Automobiles said strong North American sales and brisk worldwide Jeep sales propelled the company to a $364 million profit in the second quarter of 2015, despite record fines from the federal government.
Overall, the company earned a pre-tax profit of $1.4 billion, which is double the $650 million it made in the same quarter last year, the Detroit Free Press reported.
The earnings beat expectations for the company, whose profit margins are still below the other domestic automakers. FCA reports its margin was 7.7 percent in the second quarter, up from 4.9 percent last year, but well behind the double-digit margins of Ford and General Motors.
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- Wjtinfwb I see all three backing away quietly and slowly. Between political winds and corporate green mandates plus the previously mentioned mandates, automakers will have to thread a needle between public demand and acceptance, and the extremely loud voices of the minority screaming for fossil fuels to be abandoned by 2030, which of course won't happen. Ford jumped in early with the Lightning and Mach-E, but since has tempered their enthusiasm and probably spent less money as the Lightning shares a lot with the gas F-150. GM however has built some bespoke platforms out on the edge that will end up being a gigantic waste of money. The Hummer EV is a joke and the new Silverado EV while impressive is both expensive and less practical than an electric version of the current gas Silverado could have been. The Cadillac EVs are the dumbest move yet, especially their upcoming 400k model. Ford seems to have a leg up on GM in Hybrid which would seem like a better interim measure, I'd be surprised if a Hybrid Explorer isn't in the works and could see a Gas/Electric Expedition and Super Duty being successful as well. US energy policy and gas prices into the next administration will play a significant role in consumer demand, if prices stay high and supplies artificially constrained, demand will increase for more efficient cars and trucks. If we go back to a self-sufficient energy policy and prices drop, demand for Hybrid's and EVs will moderate even more.
- Wjtinfwb Poor cousin to the Blazer & Bronco that dominated this segment. The 1st Gen Ramcharger was a much better and better looking truck, with the 440 available and without the AMC Pacer style real windows. The Bronco and Blazer felt and looked much more modern and cohesive than the Mopar's, and that's not saying very much. Probably attractive to the Mopar faithful but for the rest of us... No thanks at any price.
- Not Ford will have a great reckoning with its EV production goals. Their EVs haven’t been as popular as initially anticipated and have been dealing quality issues (persistent recalls on Mach E) or disappointing performance (cold weather and towing greatly diminishing range on Lightning).Their top selling vehicle remains the ICE powered F-series. Consumers will only tolerate so much price increase as Ford tries to subsidize the massive losses it incurs with EV production. Being forced to eat profit off of 2-3 ICE F-series to offset losses from a single Lightning will quickly prove to be unsustainable business. This is the very same company that abandoned cars entirely to focus on more profitable trucks.
- LYNN DELANEY Mine is a 2001 Pure White Miata. I bought it at Concord Mazda. I love it but Imay be about to get rid of it I guess. It's been in my garage for quite awhile. Why? 1. I don't have a lot of money (I'm a retired teacher) And I've had issues with it that require financing. For example when you insert the key and turn it nothing happens. Why? I got it at Concord Mazda and somehow. it came to my condo shared garage to die and has remained such to this day. If you want to experience it you put the key in the keyhole and turn it but silence ensues and you wonder why but you know it's because the key was "programmed and it worked when you brought it home but not since.I'm told it requires a new battery but I've not had the financial energy to deal with it. I love my Miata but will I keep it? I'm unsure. Next step? Install a new battery...When it came home from Concord Mazda it was perfect for a quick minute. I tested it. I drove it around my block in Oakland, California just one time. That was the end of it. Since them I'm told it needs a new battery. It's a 2001. Shall I go ahead and splurge?
- Dusterdude @El scotto , I'm aware of the history, I have been in the "working world" for close to 40 years with many of them being in automotive. We have to look at situation in the "big picture". Did UAW make concessions in past ? - yes. Do they deserve an increase now ? -yes . Is their pay increase reasonable given their current compensation package ? Not at all ! By the way - are the automotive CEO's overpaid - definitely! (That is the case in many industries, and a separate topic). As the auto industry slowly but surely moves to EV's , the "big 3" will need to be producing top quality competitive vehicles or they will not survive.