Chrysler

Why are Detroit automakers losing out in Europe?

Stateside Staff — Mon, 06 May 2013 21:04:26 +0000

If you hear the word Europe, you might find yourself thinking of great places to travel, a rich history, or family roots.

If you're an auto executive and you hear “Europe,” you’ll likely sigh and take a couple of aspirin for your headache.

That's because the Detroit automakers stand to lose $4 billion in Europe this year. And with a collapse in auto sales across the pond, trying to muscle through the kinds of changes that saved the industry here in North America is a totally different challenge in Europe.

Michelle Krebs of Edmunds.com and Michigan Radio’s auto reporter Tracy Samilton discuss the bleak picture in Europe for Detroit automakers.

Listen to the full interview above.

Chrysler profits are down, but Fiat losses are lower

Tracy Samilton — Mon, 29 Apr 2013 19:29:58 +0000

Chrysler made a lower-than-expected profit of $166 million in the first quarter, a decline of 65 percent from last year. It was not just analysts whose expectations weren't met; the CEO of the company admitted disappointment.

Sergio Marchionne said he knew the company would be "limping" in the period, due to retooling of the Toledo plant and preparations to launch the new Cherokee, but "we just didn't know how much."

Chrysler putting $20M into northwest Ohio plant

Associated Press — Sat, 27 Apr 2013 19:16:54 +0000

Automaker Chrysler plans to put close to $20 million into one of its northwest Ohio plants.

Chrysler says the work at the machining plant just outside Toledo will go toward new equipment and tooling. The investment won't bring any new permanent jobs though.

The spending will increase capacity for a torque converter for the new 2014 Jeep Cherokee.

The plant near Perrysburg makes torque converters and steering columns for several Chrysler plants in the Midwest as well as Canada and Mexico.

Ford, GM and Chrysler posted gains in February sales

The Associated Press — Fri, 01 Mar 2013 22:23:28 +0000

February was a good month for the Big 3.

The increase is a sign that U.S. auto sales remain strong even in an uneven economy.

This morning's news: Medicaid decision, Rainy Day Fund, Super Bowl ads

Michigan Radio Newsroom — Mon, 04 Feb 2013 13:35:13 +0000

Snyder to decide this week whether to expand Medicaid

In his budget address this week, Gov. Rick Snyder will announce whether he'll expand Medicaid. Under the Affordable Care Act, the federal government would pay for the state to allow an additional 400,000 people in the state to receive Medicaid coverage. The state would eventually have to pay for a portion of the costs, Rick Pluta reports.

Snyder to propose adding $50 to $100 million to Rainy Day Fund

Gov. Rick Snyder is expected to recommend that the state add $50 to $100 million to its Budget Stabilization Fund, better known as the Rainy Day Fund. Some Democrats argue though that now is not the time to be saving. The Detroit Free Press quotes Gilda Jacobs, president and CEO of the Michigan League for Public Policy.

"For lots of families, it is raining right now," Jacobs said. "There really is the opportunity to take a portion of the money that is in the Rainy Day Fund and use it for families that are experiencing hardship."

Chrysler pays tribute to troops, farmers in two Super Bowl ads

Chrysler's two Super Bowl ads were among the most well-received auto advertisements according to the Detroit Free Press. Chrysler's first ad, voiced by Oprah Winfrey, was a Jeep spot that paid tribute to the military. Their second commercial, an ad for Ram pickup trucks, featured the late radio personality Paul Harvey reading "So God Made a Farmer."

The ad took 9th place in MSU's annual Super Bowl Ad rankings.

http://www.youtube.com/watch?v=AMpZ0TGjbWE

- Joseph Lichterman, Michigan Radio Newsroom

Automakers report double-digit gains

The Associated Press — Fri, 01 Feb 2013 21:58:06 +0000

DETROIT (AP) -Last year's momentum in U.S. auto sales is continuing into this year.

Ford, Chrysler and GM are all reporting double-digit gains for January.

Sales at Ford rose 22 percent compared with a year earlier. GM and Chrysler each reported 16 percent gains.

Ford's sales rose on strong sales of pickup trucks and new vehicles.

Jeeps to be built in China, Chrysler and Guangzhou announce deal

Mark Brush — Tue, 15 Jan 2013 19:12:03 +0000

At the North American International Auto Show today, the Chinese-owned Guangzhou Automobile Group, or GAC Motors, announced plans to build Jeeps to sell in the Chinese market.

GAC Motors is a state-owned automobile business located in the city of Guangzhou in southern China.

More on the announcement from Brent Snavely of the Detroit Free Press:

Ram 1500 wins 2013 'Truck/Utility of the Year' award

Mark Brush — Mon, 14 Jan 2013 13:02:38 +0000

At this morning's press preview of the Detroit Auto Show, the Ram 1500 won the 2013 North American Truck/Utility of the Year Award.

The truck was chosen by a group of 49 automotive journalists from the United States and Canada.

The Ram 1500 was up against two other finalists in the category, the Ford C-Max and the Mazda CX-5.

The Ram 1500 also won the 2013 Motor Trend Truck of the Year award.

In a statement, Fred Diaz, President and CEO of Ram Truck Brand and Chrysler de Mexico, Chrysler Group LLC, said:

"For the Ram Truck Brand, this ranks as one of the proudest days in our history. Every truck-maker aspires to win the North American Truck/Utility of the Year. I tip my hat to the folks who worked behind the scenes to make the 2013 Ram 1500 a technological triumph."

Fiat seeks to gain another stake in Chrysler from VEBA

Tracy Samilton — Thu, 03 Jan 2013 20:09:37 +0000

Italian automaker Fiat, already Chrysler's majority owner, has announced plans to acquire another stake in the Detroit car company.

Fiat currently owns 58.57 percent of Chrysler. The rest is held by VEBA - the Voluntary Employee Beneficiary Association. The VEBA was given stock in Chrysler in lieu of cash payments to cover union retiree health care costs, which were shifted to the UAW in 2007.

Fiat says it intends to exercise an option for 3.3% of VEBA's stock, for $198 million.

Chrysler shutters car museum

Michigan Radio Newsroom — Mon, 03 Dec 2012 18:14:29 +0000

Chrysler announced last week that it would be closing The Walter P. Chrysler Museum located at its Auburn Hills headquarters.

The museum, which opened in 1999, will merge with the Chrysler Foundation by the end of the year.

Chrysler Group LLC will purchase the 67 historic vehicles housed in the museum, the oldest being a 1902 Rambler Runabout Roadster.

The collection of classic cars will be be closed off to the public except for special events and exhibitions.

From the press release:

A November to remember for U.S. automakers

Mark Brush — Mon, 03 Dec 2012 15:27:09 +0000

GM, Ford, and Chrysler all say November sales were the best they've seen in a long time.

GM rebuilds its finance arm with Ally purchase

Tracy Samilton — Thu, 22 Nov 2012 21:55:41 +0000

General Motors was a deeply troubled company in 2008.

Eh. Make that deeply, deeply, deeply troubled.

So was its finance arm, GMAC, which had plunged head-first into subprime mortgage lending, in addition to automotive lending. That left the company awash in billions of dollars worth of bad mortgages.

The federal government had to figure out a way to bail out both companies - because GM wouldn't survive if it didn't have a place to send customers for car loans, and if its dealers didn't have a place to get financing to buy the inventory.

Chrysler's third-quarter profits up 80 percent

Michigan Radio Newsroom — Mon, 29 Oct 2012 20:59:26 +0000

A third-quarter earnings report from Chrysler shows that profits are up 80 percent from last year.

The automaker earned $381 million over the past quarter, up from $212 million for the same period last year.

Brent Snavely from the Detroit Free Press has more:

Chrysler adds third shift, 1,100 jobs at Detroit plant

Michigan Radio Newsroom — Fri, 26 Oct 2012 19:45:04 +0000

A third shift beginning next week at Chrysler’s Jefferson North Assembly Plant in Detroit will add about 1,100 new jobs.

The new shift is being added to keep up with increased demand for the Jeep Grand Cherokee.

Brent Snavely from the Detroit Free Press has the story:

Adding the third crew now was driven by the mounting cost of overtime Jefferson North's workers have logged in recent months. Newly hired workers start at a lower wage to which the UAW agreed in its 2011 contract.

Chrysler leads monthly sales numbers for Big Three

Michigan Radio Newsroom — Tue, 02 Oct 2012 17:47:03 +0000

General Motors says its U.S. sales rose about one and a half percent last month, as a big jump in car sales was offset by falling truck sales.

Ford says its U.S. sales were flat in September, like GM, Ford was weighed down by lower truck sales even as sales of its cars rose.

But Chrysler had the best September of the Detroit Three, with a 12 percent increase in sales.