• 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
  • South Korean Brands Get Bigger Share of January Sales
  • Investors Unfazed as Tesla Reveals New SEC Probe
  • GM and Lithium Americas Partner for U.S.-Sourced Lithium
  • First Look: 2024 Range Rover Velar
  • Q&A: Mazda North America’s CEO Jeff Guyton
  • Tesla Owners Stung by Capitalism
  • Mercedes Updates GLE Models for 2024 Model Year
  • First Look: Mazda’s Bigger, More Luxurious New CX-90
  • GM Net Income Rises for Q4 But Falls for Full Year 2022
  • GMC Launches Production of Hummer SUV; Needs Until 2024 to Fill Outstanding Orders
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 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
    • A Week With: 2023 Genesis GV60 Performance
    • A Week With: 2023 Chevrolet Suburban Z71
    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 Boosts Third Quarter Income 52 Percent

        FCA Boosts Third Quarter Income 52 Percent

        CEO Marchionne says company closing in on financial goals.

        Joseph Szczesny
        Joseph Szczesny , Executive Editor
        Oct. 24, 2017
        Fiat Chrysler reported net income of $1.1 billion for the third quarter — a 52% increase.

        Despite speculation about a possible sale and future prospects looking shakey, Fiat Chrysler Automobiles N.V. posted strong third quarter net income results, increasing 52% to $1.1 billion.

        FCA reported pretax profits of $2.1 billion beat analysts’ expectations of $1.02 billion, according to MarketWatch. Earnings per share of 70 cents jumped compared with 56 cents during the same period in 2016.

        News Now!

        Sergio Marchionne, FCA chief executive officer, said the company is closing in on its ambitious goals, including becoming debt free and banking cash reserves of between $4 billion and $5 billion in cash, despite its ambitious plan to re-align factories across North America.

        “Those numbers are deliverable now,” said Marchionne, even without tax form. He also who also dismissed talk that FCA was for sale. “I’m monogamous now,” he said.

        (Secrets are out! 2018 Jeep Wrangler user’s guide is leaked. For more, Click Here.)

        FCA CEO Sergio Marchionne said the company is closing in on its financial goals.

        “We’ve got three product launches in the next 90 days,” Marchionne said. “Flawless execution of that plan will guarantee ’18. I think we’re in good shape. Its been an unusual because of the all the changes.”

        Marchionne noted in Toledo, Ohio, the plant realignment will give FCA the capacity to build 300,000 Jeep Wranglers for global distribution. The total capacity from Toledo could grow to 400,000 units, he noted.

        “We need to keep on pushing Jeep to make sure it becomes as global and as profitable as it can be,” Marchionne said.

        The new Toledo-built Wrangler will be revealed in December and the new Jeep Cherokee, which will be built at the FCA plant in Belvidere, Illinois, just outside Chicago, will be launched in January. The new Ram pickup truck will also start rolling out of a re-tooled factory Sterling Heights, Michigan, during the first quarter of 2018.

        (Click Here for details about the 2018 Jeep Wrangler.)

        Overall, the three launches combined represent the production of 1 million new vehicles. “We’ve been investing heavily in new production,” said Palmer, adding that once the re-alignment is complete, the company will shift capital spending towards new models and research and development.

        The key is to embrace partnerships as the optimal way to develop. The platform FCA now is developing with BMW, Mobileye and Intel “will be scalable will be used by multiple OEMs,” he said. The platform is also flexible enough to help the different brands retain their distinctive character.

        “Don’t believe the fluff. There are no shortcuts,” Marchionne said. “I can’t think of a better partner for this journey than BMW.”

        Overall, FCA’s operating margin improved in North America, Latin America, where the numbers went from a loss to a small profit and in Asia Pacific where the company expanded its footprint in China and India.

        (To see details about how U.S. automakers impact the American economy, Click Here.)

        “All of our units made positive contributions,” said CFO Richard Palmer, who also re-confirmed the company’s outlook for 2018. The improvement in the company income and margins came even though the combined shipments were and revenues were essentially flat.

        How to Care for Your Car

        Cheap Car Warranty

        Editor's Choice

        Best Extended Car Warranty

        Editor's Choice
        Recently Published
        2023 Toyota Corolla Hatchback SE front REL

        South Korean Brands Get Bigger Share of January Sales

        Today
        Tesla Gigafactory Austin_01

        Investors Unfazed as Tesla Reveals New SEC Probe

        Today
        GM and Lithium Americas

        GM and Lithium Americas Partner for U.S.-Sourced Lithium

        Today

        2 responses to “FCA Boosts Third Quarter Income 52 Percent”

        1. Kevan Lesch says:
          October 27, 2017 at 12:11 am

          Who is Palmer? (9th paragraph)

          Reply
        2. JAE says:
          October 27, 2017 at 1:55 pm

          Dangerously similar to what happened 10 years ago, pushing trucks and SUVs, dismissing cars one by one, until you’re stuck and scrambling to get compacts out designed by “truck people”.

          If these recent petrol spikes continue and remain high what happens then?

          Reply

        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: