DETROIT (Reuters) – Chrysler Group LLC, a unit of Fiat Chrysler Automobiles (FCHA.MI: Quote, Profile, Research, Stock Buzz) (FCAU.N: Quote, Profile, Research, Stock Buzz), on Wednesday reported third-quarter net income of $611 million, up 32 percent from a year earlier, and kept its full-year outlook, sending shares up in early trading.
Revenue for Chrysler, which derives most of its sales from its home North American market, was $20.66 billion, up 17.6 percent. The revenue growth matched that of vehicle sales, which surged to 711,000 vehicles.
Fiat Chrysler Automobiles (FCHA.MI: Quote, Profile, Research)(FCAU.N: Quote, Profile, Research) U.S. October sales rose 22 percent on strong pickup truck and Jeep SUV demand, and beat analysts’ expectations.
DETROIT, Nov 3 (Reuters) – Fiat Chrysler Automobiles
U.S. October sales rose 22 percent on strong
pickup truck demand, the company said on Monday.
The Ram pickup truck brand, anchored by the Ram 1500,
reported sales of 39,834 vehicles, a 36 percent increase from a
year ago. Chrysler Group and its Ram brand took advantage as
Ford Motor Co has lowered production of its top-selling
F-150 pickup truck in recent months. Ford is transitioning to a
new aluminum-bodied version that will begin sales late this
DETROIT, Oct 31 (Reuters) – The U.S. auto industry continued
its moderate recovery in October and will show a 5.7-percent
rise in sales from last year, analysts polled by Reuters said.
Chrysler Group and Nissan Motor Co will lead the
growth with double-digit gains over a year ago, the analysts
DETROIT (Reuters) – AutoNation Inc (AN.N: Quote, Profile, Research, Stock Buzz) shares on Tuesday jumped nearly 7 percent after the company exceeded Wall Street expectations with a 15 percent increase in third-quarter earnings and its chief executive said U.S. auto sales will continue to rise in 2015.
Shares of the largest U.S. auto dealer group closed at $55.58, up 6.9 percent.
Chief Executive Officer Mike Jackson said the U.S. recovery from the recession five years ago would continue into 2015. He expects U.S. new auto sales to top 17 million vehicles for the first time since 2001.
DETROIT (Reuters) – AutoNation Inc (AN.N: Quote, Profile, Research, Stock Buzz), the largest U.S. auto retail group, has stopped selling cars equipped with Takata Corp (7312.T: Quote, Profile, Research, Stock Buzz) air bags involved in a massive global recall involving more than 16 million vehicles, Chief Executive Mike Jackson said on Tuesday.
“We as a company have made the decision not to retail any vehicle that is involved in this recall until it is repaired and the vehicles that do come in for service, we are advising the customer not to put a passenger in front of that air bag until it’s repaired,” Jackson said in an interview with Reuters.
DETROIT, Oct 28 (Reuters) – U.S. auto sales will rise above
17 million vehicles next year for only the third time in
history, AutoNation Inc Chief Executive Mike Jackson said
In the previous years when U.S. auto sales topped 17 million
vehicles, 2000 and 2001, the number of vehicles per household
was on the rise, a trend which Jackson said has since leveled
off and will not be a driver in next year’s projected growth.
DETROIT, Oct 28 (Reuters) – AutoNation Inc on Tuesday
reported a 15 percent jump in third-quarter earnings, in part
because of robust profit from used cars.
Shares of the largest U.S. auto dealer group rose 3.5
percent to $53.83 in trading before the market opened.
DETROIT, Oct 27 (Reuters) – Toyota Motor Corp’s
namesake brand and its Lexus luxury brand finished one-and-two
for the second year in a row in Consumer Reports’ annual quality
survey of the U.S. new-vehicle market, the influential magazine
said on Monday.
The four lowest-scoring brands were all from Fiat Chrysler
Automobiles’ Chrysler Group, as were five of the bottom seven.
Fiat scored the lowest of the 28 brands and the Fiat 500L was
named the least reliable among 265 models included in the
DETROIT (Reuters) – Ford Motor Co’s (F.N: Quote, Profile, Research, Stock Buzz) new chief executive, Mark Fields, is giving the automaker’s long-moribund Lincoln brand what his predecessor Alan Mulally never could: a little love and a lot of cash.
Lincoln, a storied Detroit brand which Ford has owned since 1922, has been in a swoon for the past two decades, leaving dealers and customers wondering if Ford management had left the brand for dead.