Chrysler Reports Net Profits for the First Time Since Emerging from Bankruptcy

On Monday, the Chrysler Group LLC reported its first quarter gains since exiting bankruptcy almost two years ago in June 2009. The Auburn Hills-based automaker, which is now operated by Fiat S.p.A., said net income totaled $116 million in the first quarter of 2011 compared to a net loss of $197 million in the same period last year.

At the same time, the company’s revenues grew 35 percent from $9.7 billion in Q1 2010 to $13.1 billion in Q1 2011. In addition, the automaker said it had $9.9 billion in cash reserves at the end of the first quarter compares to 2.5 billion in December 31, 2010.

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Chrysler Group to Repay $7.5 Billion of Government Loans by the End of June

In order to pave the way for Fiat to reach 51 percent ownership of the Chrysler Group, the Auburn Hills-based automaker announced today that it intends to repay in full the loans provided by the U.S. and Canadian governments back in 2009 ($7.53 billion in total).

The Chrysler Group said it plans to complete the repayment during the second quarter of 2011 (ending in June). The company will use money from a new term loan facility plus a new issue of debt securities that will be sold to institutional investors in a private offering along with proceeds from Fiat’s recent cash infusion to increase its stake in Chrysler.

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Jeep Betting on Three New SUVs to Boost European Sales Five-Times by 2014

Jeep has disclosed plans to increase European sales from 25,000 units this year to 125,000 units by 2014. Europe will play a key role in Chrysler CEO Sergio Marchionne’s plans to double the brand’s global sales from 420,000 units last year to 800,000 units in 2014.

"Our plans for Europe are ambitious but doable. Europe for Jeep is an incredibly important market. We have been here for 30 years and half of our international sales historically were in Europe," Jeep CEO Mike Manley told Autonews Europe.

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New Footage of Jeep’s Build-it-Yourself Wrangler JK8 Independence Pickup Truck

Earlier this month, the Chrysler Group’s Mopar division unveiled a new do-it-yourself pickup conversion kit for the latest generation of the Wrangler modeled after the 1980’s Scrambler CJ-8. Called the JK-8 Independence, the kit allows the transformation of a four-door 2007-2011 Wrangler Unlimited into a two-door, two-seater pickup truck with a 50-inch long cargo bed.

Now, the Detroit automaker has released new running footage of the JK-8 Independence pickup conversion shot at the Easter Jeep Safari in Moab, Utah, as well as a walkaround clip with Steve Hautman, a Mopar Performance Offroad Team engineer, providing us a brief explanation on the build. You can watch both clips right after the break.

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2012 Grand Cherokee SRT8

Jeep has given the SRT treatment to its flagshipGrand Cherokee and the result is the creation of the firm’s fastest and most potent production model ever. How does a 0 to 60 mph (96 km/h) acceleration of 4.8 seconds or a quarter mile time in the mid-13 second range sound? This is what the Grand Cherokee SRT8 is capable of, and the reason for these figures lies under the SUV's bonnet.

The Chrysler Group’s Street and Racing Technology division (SRT for short) equipped the performance SUV with an all-new 6.4-liter HEMI V8 engine that delivers 465 horsepower and 465 lb-ft (630 Nm) of torque.

Compared to the outgoing model powered by the 6.1-liter HEMI V8 unit, the new Grand Cherokee SRT8 has an extra 45HP and 45 lb-ft (61 Nm) of torque. About 90 percent of peak torque is available between 2,800 and 6,000 rpm. The Grand Cherokee SRT8 can do 0-100-0 mph in the mid-16 second range and has a top speed of 155 mph (250 km/h).

Standard Fuel Saver Technology and a new active valve exhaust system mean the engine can run on 4 cylinders alone on a wider rpm range, delivering better mileage (up to 13 percent better on the highway) and an extended range of around 450 miles (724 km) on one tank of gas.

The engine is linked to an automatic transmission with standard paddle shifters mounted on the steering wheel. The Quadra-Trac AWD system can transfer up to 100 percent of available torque to one rear wheel in slippery conditions. Add to that the adaptive damping suspension and the five-mode Selec-Track system that tunes the dynamics of the car and you have a complete picture of the SRT8's on and off-road capabilities. Jeep says the SUV is capable of 0.90 g on the skid pad and that it can brake from 60 mph in 116 feet (35.3 meters).

The 2012 Jeep Grand Cherokee SRT8 has the looks to match its performance, thanks to its lowered body (by 1 inch/2.5 cm) and the SRT body kit comprising of wheel arches and side sills painted in the car's color, plus a racing-style front bumper that sports LED daytime running lights and a large air intake in the lower part.

Other modifications include the body-colored grille with a black background and chrome inserts and the sculpted hood fitted with dual black heat extractors for added engine cooling. At the rear, the Grand Cherokee SRT8 features a new spoiler, a new bumper with integrated air diffuser and dual exhaust system.

The interior features a dedicated heated steering wheel, special SRT instrument panel, Nappa leather and suede upholstery and carbon trim, among others. The car debuted today at the New York Auto Show and will reach U.S. showrooms in third quarter of the year.

GALLERY

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2011 NYIAS: Jeep Launches New Wrangler Mojave with Bespoke Features

The refined 2011 Wrangler has only been a few months into its U.S. market introduction but Jeep is already rolling out a special editions of its rugged 4x4. The latest addition to the Wrangler range is the Mojave, which is named after the western desert Mojave Trail, and comes with unique features inside and out, including an aggressive wheel and tire package. Read more »

465 Horses Make the 2012 Grand Cherokee SRT8 the Fastest Jeep Ever

Jeep has given the SRT treatment to its flagship Grand Cherokee and the result is the creation of the firm’s fastest and most potent production model ever. How does a 0 to 60 mph (96 km/h) acceleration of 4.8 seconds or a quarter mile time in the mid-13 second range sound? This is what the Grand Cherokee SRT8 is capable of, and the reason for these figures lies under the SUV's bonnet.

The Chrysler Group’s Street and Racing Technology division (SRT for short) equipped the performance SUV with an all-new 6.4-liter HEMI V8 engine that delivers 465 horsepower and 465 lb-ft (630 Nm) of torque.

Compared to the outgoing model powered by the 6.1-liter HEMI V8 unit, the new Grand Cherokee SRT8 has an extra 45HP and 45 lb-ft (61 Nm) of torque. About 90 percent of peak torque is available between 2,800 and 6,000 rpm. The Grand Cherokee SRT8 can do 0-100-0 mph in the mid-16 second range and has a top speed of 155 mph (250 km/h).

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Teen Girl Rams Stolen Jeep Wrangler into a Church During Police Pursuit [with Video]

A police video camera has captured the pursuit of a speeding Jeep Wrangler that ended with the 4x4 plowing a Church in Socastee, South Carolina on Friday. The driver turned out to be a 15-year-old girl who had stolen the red-colored Wrangler. Despite the severity of the crash, the teenage girl managed to escape with serious but non-life threatening injuries. Read more »

Chrysler Group to Unveil New Production Model and a Race-Inspired Study at New York Auto Show

We’re used to the Chrysler Group unveiling new or heavily refreshed models lately, and it looks like the company will keep the product momentum going at next week’s New York International Auto Show. According to a brief statement from the Detroit automaker, the company is planning the premiere of an unnamed production model and what is being described as a “race-inspired project vehicle” at the Big Apple. Chrysler is being quite secretive about the debuts as the company did not give out any other details. Read more »

Project Kahn Does its Thing on the Jeep Wrangler

The tuners over at Project Kahn have released photos and details on their latest offering based on the Jeep Wrangler. The restrained tuning programme is limited to a cosmetic touch up of the popular 4x4 model. On the outside, Project Kahn’s team added a set of new 20-inch RS alloy wheels wrapped around beefy 275/55 tires. Upon request, the Wrangler can be finished in either black or silver with matching alloy wheels.

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Jeep Compass Priced from £16,995 in UK, Sales to Start on April 15

The refreshed Jeep Compass SUV will go on sale in the UK on April 15 with prices ranging from £16,995 ($27,783) for the base model to £23,995 ($39,227). Available in 2WD versions as well as 4WD, the Compass is offered with a three-year or 60,000-mile warranty.

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Jeep’s 2011 Moab Easter Safari Specials in Pictures and on Video

Earlier today, we showed you the Jeep Wrangler JK-8 Independence pickup truck [DIY] conversion, and now its time to give you a sneak peek of the rest of the vehicles Jeep and Mopar are planning to bring to the upcoming 45th annual Moab Easter Jeep Safari in Utah on April 16.

The list includes the Jeep Compass Canyon, Cherokee Overland, Grand Cherokee Off-road Edition, Wrangler Renegade, Wrangler Pork Chop, Wrangler Blue Crush and the Mopar Ram Truck Runner.

One of the most impressive looking models is the Jeep Wrangler Blue Crush, which is said to combine “high-speed off-road racing and rock-crawling capability.” The high-riding Wrangler packs a Mopar 426 cubic-inch HEMI V8 with 540 horsepower that is paired with a 545RFE performance transmission and a gear-drive transfercase.

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Jeep Wrangler JK-8 Independence: DIY Mopar Kit Allows Owners To Turn Wrangler Into a Pick Up Truck

Some of you may remember the 2005 Jeep Gladiator concept study for a pickup truck version of the Wrangler, which for many reasons, never came to fruition. But if you happened to like the idea of a light-duty hauler based on the Wrangler, then Jeep may have the answer for you with its new JK-8 Independence package.

The do-it-yourself Mopar kit allows owners to convert a 4-door Jeep Wrangler Unlimited into a two-door pickup truck with seating for two and a pickup style bed. After the conversion, the bed length is 50 inches and the width between wheel wells is 44 inches. The package includes all the necessary parts such as the bed floor, inner and outer body panels, half hard top (works with Freedom Top panels), and a new bulkhead.

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Report: Fiat to Raise Chrysler Stake to 30 Percent within the Next Few Weeks

Fiat SpA is planning to increase its Chrysler LLC Group stake to 30 percent in the next few weeks, according to insider sources quoted by Bloomberg news. The Italian company, which currently holds a 25 percent stake in Chrysler, will get an additional 5 percent from the U.S. government after it will meet two performance criteria.

The first condition is that 90 percent of Fiat's Latin American dealers must offer Chrysler vehicles as well. To satisfy this request, Fiat CEO Sergio Marchionne plans to sell Chrysler models rebadged as Fiats in Brazil, Latin America's largest market, where the Italian brand holds the number one spot.

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Jeep to Show Six New Vehicles at Moab Easter Safari

At the upcoming 45th annual Moab Easter Jeep Safari event that takes place in Utah from April 16-24, the Chrysler Group will display six new vehicles, including two Jeep Wrangler concepts. The company revealed two teaser sketches of the Jeep Wrangler “Renegade” and “Pork Chop” editions, which are modified versions of the standard Wrangler. Further details are to be released closer to the event. Read more »

Jeep Adds New 3.0-liter V6 Turbo Diesel to Grand Cherokee

Given that over forty per cent of all cars sold in Europe are diesel-powered, any brand that wants to be successful in the market must have diesel options in its range. Following the presentation of its new 3.0-liter V6 turbo diesel on the Chrysler 300's European clone, the Lancia Thema, the Fiat Group is now introducing the oil-burner to the Jeep Grand Cherokee range for Europe and other diesel markets around the world.
The new V6 diesel engine is built by VM Motori and has been developed together with Fiat Powertrain, which is a subsidiary of the Fiat Group. The 3.0-liter unit features Fiat's MultiJet II system which enables up to eight injections per cycle, with the possibility of managing the two main injections in a single modular profile (IRS – Injection Rate Shaping). It is also fitted with a single Garrett VGT 2056 turbocharger with variable turbine geometry.
In the Grand Cherokee, the 3.0-liter V6 diesel is offered in two guises, the most powerful of which produces 241HP at 4,000 rpm and 550 Nm (406 lb-ft) of peak torque at 1,800-2,800 rpm, with the company claiming a 10 percent gain in power and eight percent more torque than the engine it replaces.
Despite the improved performance, Jeep said fuel economy for the 241HP version returns 8.3 lt/100km (equal to 28.4 mpg US) on the combined European cycle, an improvement of 17 percent over the prior diesel engine. CO2 emissions (are also reduced by 17 percent, now at 218 g/km.
Jeep will also offer a lower-output version of the 3.0-liter V6 turbo diesel rated at 190HP at 4,000 rpm and 440 Nm (324 lb-ft) of peak torque available from 1,600 to 2,800 rpm. The low-output version of the turbo diesel engine will be standard on Laredo models and optional on the Limited
The new 3.0-liter turbo diesel variants of the Grand Cherokee will receive their world premiere at the Geneva Motor Show next week and be available in Europe by the end of the first half of 2011.

 photos

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