{"id":120163,"date":"2017-10-24T13:38:05","date_gmt":"2017-10-24T17:38:05","guid":{"rendered":"http:\/\/www.thedetroitbureau.com\/?p=120163"},"modified":"2017-10-27T09:49:12","modified_gmt":"2017-10-27T13:49:12","slug":"fca-boosts-third-quarter-income-52-percent","status":"publish","type":"post","link":"https:\/\/thedetroitbureau.com\/2017\/10\/fca-boosts-third-quarter-income-52-percent\/","title":{"rendered":"FCA Boosts Third Quarter Income 52 Percent"},"content":{"rendered":"
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Fiat Chrysler reported net income of $1.1 billion for the third quarter \u2014 a 52% increase.<\/figcaption><\/figure>\n

Despite speculation about a possible sale and future prospects looking shakey, Fiat Chrysler Automobiles N.V.\u00a0posted\u00a0strong third quarter net income results, increasing 52% to $1.1 billion.<\/p>\n

FCA reported pretax profits of $2.1 billion beat analysts’ expectations of $1.02 billion, according to MarketWatch.\u00a0Earnings per share of 70 cents jumped compared with\u00a056 cents during the same period in 2016.<\/p>\n

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News Now!<\/figcaption><\/figure>\n

Sergio Marchionne,\u00a0FCA chief executive officer,\u00a0said 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.<\/p>\n

“Those numbers are deliverable now,” said Marchionne,\u00a0even without tax form. He also who also dismissed talk that FCA was for sale. “I’m monogamous now,” he said.<\/p>\n

(Secrets are out! 2018 Jeep Wrangler user’s guide is leaked. For more, <\/em>Click Here<\/a><\/span>.)<\/em><\/strong><\/p>\n

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FCA CEO Sergio Marchionne said the company is closing in on its financial goals.<\/figcaption><\/figure>\n

“We’ve got three product launches in the next 90 days,” Marchionne said.\u00a0“Flawless execution of that plan will guarantee ’18. I think we\u2019re in good shape. Its been an unusual because of the all the changes.”<\/p>\n

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.<\/p>\n

“We need to keep on pushing Jeep to make sure it becomes as global and as profitable as it can be,”\u00a0Marchionne said.<\/p>\n

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.<\/p>\n

(<\/em>Click Here<\/a><\/span>\u00a0for details\u00a0about\u00a0the 2018 Jeep Wrangler.)<\/em><\/strong><\/p>\n

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.<\/p>\n

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,”\u00a0he said. The platform is also flexible enough to help the different brands retain their distinctive character.<\/p>\n

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

Overall,\u00a0FCA’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.<\/p>\n

(To see details about how U.S. automakers impact the American economy, <\/em>Click Here<\/a><\/span>.)<\/em><\/strong><\/p>\n

“All of our units made positive contributions,”\u00a0said 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.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite speculation about a possible sale, Fiat Chrysler posted strong third quarter net income results, increasing 52% to $1.1 billion. See more at TheDetroitBureau.com.<\/p>\n","protected":false},"author":20009,"featured_media":83219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[8],"tags":[],"make":[],"post-state":[],"category_old":[151],"acf":[],"_links":{"self":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/120163"}],"collection":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/users\/20009"}],"replies":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/comments?post=120163"}],"version-history":[{"count":0,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/120163\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media\/83219"}],"wp:attachment":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media?parent=120163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/categories?post=120163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/tags?post=120163"},{"taxonomy":"make","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/make?post=120163"},{"taxonomy":"post-state","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/post-state?post=120163"},{"taxonomy":"category_old","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/category_old?post=120163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}