• News
  • Guides
  • Reviews
  • Media
  • About
  • News
  • Guides
  • Reviews
  • Media
  • About
Sign up Now (For Free)

Sign up for our newsletter and receive the latest automotive news in your inbox!

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Thanks for subscribing!
News
Read Now
  • All News
  • Automakers
  • Automobiles
  • Auto Shows
  • Business
  • EVs & Environment
  • Guides
  • Lawsuits/Legal
  • Regulatory
  • Ride-Sharing
  • Safety & Recalls
  • Technology
Recent
  • Biden Admin. Makes EV Credits Available to More Buyers
  • Week Ahead: Chicago … that Toddling Town
  • The Rearview Mirror: Tailfins Take Flight
  • TikTok Reveals the Hottest EVs in the Industry
  • Millions of Older Hyundai, Kia Owners May Face Trouble Getting Car Insurance
  • Bugatti Chiron Profilée Sets New Auction Sales Record
  • Another Delay for VinFast Customers
  • Ford Making Return to Formula One for 2026 Season
  • Ford CEO Farley “Frustrated” by $2 Billion Loss for 2022
  • Hyundai Ioniq 6 Achieves EPA-Estimated 361-Mile Range
Editor’s Choice
    Reviews
    Read Now
    • All Reviews
      • Feeder
    • Classic Cars
    • Concept Cars
    • Convertibles
    • Coupes
    • Crossovers/CUVs
    • Diesel
    • Hot hatches
    • Hybrids
    • Luxury Vehicles
    • Minivans
    • Muscle Cars
    • Pickups
    • Sedans
    • Sports Cars
    • Super Cars
    • SUVs
    Recent Reviews
    • A Week With: 2023 Lexus GX 460 Black Line
    • A Week With: 2023 BMW X1 xDrive28i
    • A Week With: 2023 Kia Niro EV
    • A Week With: 2023 Hyundai Palisade Calligraphy
    • A Week With: 2023 Ford F-150 Raptor R 4x4 Super Crew
    • A Week With: 2023 Genesis Electrified G80 AWD
    • A Week With: 2023 Land Rover Defender 110 V-8
    • First Drive: 2023 Honda Pilot TrailSport
    • A Week With: 2023 Jaguar F-Type R Coupe
    • A Week With: 2023 GMC Yukon Denali Ultimate
    Editor’s Choice
      Guides
      Car Warranty
      • Endurance Warranty Reviews
      • BMW Extended Warranty
      • Extended Warranty For Cars Over 100k Miles
      • Extended Car Warranty Cost
      • Subaru Extended Warranty
      • CarShield Reviews
      • CarShield Cost
      • Aftermarket Car Warranty
      • CARCHEX Warranty Reviews
      • Reputable Extended Car Warranty Companies
      • Used Car Warranty Companies
      • Best Car Warranty
      • Is CarShield A Scam?
      • Mercedes Extended Warranty
      • CarShield Plans
      Insurance
      • How To Identify A Car Insurance Company
      • Geico Mechanical Breakdown Insurance
      • How Far Back Does A Car Insurance Company Look
      • Mechanical Breakdown Insurance For Used Cars
      • State Farm Mechanical Breakdown Insurance
      • Mechanical Breakdown Insurance From Progressive
      • Dollar A Day Insurance
      • Auto Insurance For SSI Recipients
      • Car Insurance Rates After A Suspended License
      • Auto Insurance For Salvage Vehicles
      • Average Cost of Dodge Ram 1500 Car Insurance
      • Car Insurance Florida
      • Full Coverage Auto Insurance
      • GrubHub Insurance
      • Amazon Delivery Auto Insurance
      Shipping
      • Car Shipping Companies
      • uShip Reviews
      • Auto Shipping From California To Hawaii
      • Montway Auto Transport Reviews
      • Cheap Car Shipping
      • Easy Auto Ship Reviews
      • Auto Shipping Miami
      • Auto Shipping To Alaska
      • Car Shipping Cost
      • Auto Shipping Hawaii
      • Auto Shipping Puerto Rico
      • Sherpa Auto Transport Reviews
      • Auto Shipping Atlanta
      • Auto Shipping Boston
      • Auto Shipping. Chicago
      About
      • About Us
      • Contact Us
      • Terms of Use
      • Privacy Policy
      • Affiliate Disclosure
      • Sitemap
      TheDetroitBureau.com

      More than just “another” place to find news, reviews, spy shots, commentary, features, and guides about the auto industry. TheDetroitBureau doesn’t stop with the press releases or confuse a few lines of opinion with insightful, in-depth reporting.

      Contact Us

      Like what you see? Have some ideas for making The Detroit Bureau.com even better? Let us know, we’d love to hear your voice.

        Media
        Listen Now
        • Headlight News: All Episodes
        More from TheDetroitBureau
        • Guides
        • Latest News
        • Auto Reviews
        • Podcasts
        Headlight News

        TheDetroitBureau.com’s Headlight News offers a look at the past week’s top automotive news stories, as well as what’s coming up in the week ahead. Check out the week’s top story and our latest review…along with a dive into the past with this week in automotive history.

        home > news > Automobiles > FCA Sees Sharp Slide in US Q3 Net Income

        FCA Sees Sharp Slide in US Q3 Net Income

        Recalls take their toll on earnings.

        Paul A. Eisenstein
        Paul A. Eisenstein , Publisher & Editor-in-Chief
        Nov. 05, 2015
        FCA ordered a major recall in July when hackers were able to take control of a Jeep.

        The U.S. has been the cash cow for Fiat Chrysler Automobiles since the trans-Atlantic was formed in 2009, but things took a severe turn for the worse in the latest quarter.

        Net income at FCA’s U.S. operations plunged 89% during the July-September quarter, to $70 million compared with $611 million a year earlier. That was one key factor behind the overall $330.4 million loss Fiat Chrysler reported for the third quarter.

        /about/subscribe
        Subscribe for Free!

        Fiat Chrysler US reported a $1 billion one-time charge on Thursday, including a $159 million of the pretax charge covered damage to FCA vehicles during the devastating series of explosions that devastated the port in the city of Tianjin, China in August.

        Another $848 million covers the cost of FCA’s big U.S. recalls. The maker was fined $105 million by the National Highway Traffic Safety Administration in July for serious lapses in its safety efforts. It agreed to take a number of steps to improve its recall and monitoring efforts, among other things agreeing to buy back up to 500,000 pickups and SUVs.

        FCA US also agreed to speed up repairs on older Jeep models the government says are vulnerable to fires in rear-end collisions. To improve the recall response rate, FCA will offer owners a choice of incentives or the ability to trade in on newer models.

        (FCA safety chief leaves as federal safety monitor signs on. For more, Click Here.)

        CEO Sergio Marchionne with FCA safety chief Scott Kunselman before the latter's retirement.

        Not all went wrong for FCA US during the third quarter, however. The American arm of the trans-Atlantic automaker posted a 5% increase in revenue, at $21.8 billion, much of its driven by growing global demand for its Jeep products. The SUV brand topped the 1 million sales mark for the first time in 2014 and has set a goal of reaching nearly 2 million before the end of the decade.

        Overall, FCA US sold 737,000 vehicles during the third quarter, an increase of 4%.

        Excluding the one-time charges, the subsidiary would have had a modified operating profit of $1.3 billion, a 34% year-over-year increase.

        (Click Here for details about the approval of the UAW-FCA contract.)

        FCA US’s parent, Fiat Chrysler Automobiles NV, last week reported a net loss of $339 million for the third quarter, even after a 17% increase in revenues, to $30 billion.

        Those U.S. recall costs were a major factor in the net income downturn. Recent recalls have included one in July for 1.4 million Jeeps, Chryslers, Rams and Dodges for a software update after a controlled hack showed it is possible to take control of the vehicles remotely.

        FCA, which is legally registered in the Netherlands, was the only one of the Detroit makers to post red ink for the latest quarter. But it was also the only one to go into the black on its U.S. operations, reporting a $25 million profit for the third quarter there.

        (For a closer look at how FCA did globally, Click Here.)

        How to Care for Your Car

        Cheap Car Warranty

        Editor's Choice

        Best Extended Car Warranty

        Editor's Choice
        Recently Published
        Biden drives Cadillac Lyriq at NAIAS 2022

        Biden Admin. Makes EV Credits Available to More Buyers

        Today
        ChevyCamaroZL1Welburn01.jpg

        Week Ahead: Chicago … that Toddling Town

        Today

        The Rearview Mirror: Tailfins Take Flight

        Feb. 04, 2023

        Leave a Reply Cancel reply

        Your email address will not be published. Required fields are marked *

        Share this article:
        © The Detroit Bureau 2023
        • Guides
        • Privacy Policy
        • Terms of Use
        • Affiliate Disclosure
        • Contact Us
        • Sitemap
        Follow Us: