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Chrysler Earnings Jump 16% – Give Boost to Italian Partner Fiat

But production issues, recalls, were costly problems

by on Jul.30, 2013

Fiat/Chrysler CEO Sergio Marchionne.

Despite paying a heavy price for a string of recent recalls, Chrysler Group LLC reported a 16% increase in earnings during the second quarter of 2013 and the company’s chief executive said he expects even stronger numbers during the second half of the year – though earnings are still expected to fall short of earlier expectations..

But Chrysler earnings would have been even stronger were it not for a major recall to address a Jeep safety issue as well as production shortfalls. Even so, the Detroit maker’s results were enough to provide a much-needed boost to its Italian partner Fiat which quadrupled its own net income for the second quarter despite ongoing problems in its home European market.

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The automaker posted net income of $507 million, compared to $436 million during the same quarter a year earlier. The second quarter marked Chrysler’s eighth consecutive quarter of positive net income. Net revenue increased 7% to $18 billion and Chrysler’s operating profit also increased 7% to $808 million from $755 million a year ago.


Chrysler Recalls Jeep Commander, Grand Cherokee

The rear track bar could be defective on 2010 SUV models.

by on Mar.15, 2010

The driver might notice a noise coming from the rear of the SUV if the bar is bad.

Chrysler Group is recalling Jeep Commander and Grand Cherokee sport utility vehicles made during December 2009.

The supplier, Global Automotive Systems, improperly welded the bushing-retaining hoops on the rear track bar.

A normal quality inspection showed that a bushing-retaining hoop had pulled open due to being improperly positioned in the welding fixture, which caused a bad weld on one side of the seam.

It appears that fewer than 4,000 vehicles are affected. And all were made at the Jefferson North Assembly Plant in Detroit.

Chrysler reports that there are no known accidents or incidents caused by a bad track bar. The driver might hear a noise coming from the rear suspension.

Safety First!

Dealers will inspect the rear track bar bushing-retaining hoop and replace the bar if it is found to be defective. The safety recall is expected to begin during April 2010.   (more…)