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A year after emerging from bankruptcy protection, Chrysler is stanching its losses and seeing demand for its cars and trucks rise. But it’s far from healthy, and its CEO says the company has more tough work ahead.
Chrysler Group LLC said Monday that growing car and truck sales helped it narrow its second-quarter loss to $172 million, compared with a first-quarter loss of $197 million.
Chrysler Group LLC said Friday that it will add nearly 900 jobs at a factory in suburban Detroit and spare it from closure. The decision is a show of optimism that consumers will embrace the company’s refurbished midsize sedans.
The jobs will staff a second shift at Chrysler’s assembly plant in Sterling Heights, Mich., just north of Detroit, which makes the slow-selling Dodge Avenger and Chrysler Sebring midsize sedans. Get the full story »
While sales of cars and trucks in the U.S. continue to be more sluggish than expected, automakers – especially the Detroit Three — are seeing the largest increase in average transaction prices in more than five years.
Industrywide, consumers spent an estimated average of $29,217 on a new car or truck from January through May, an increase of $1,057, or 3.7 percent, from last year, according to estimates provided by Edmunds.com. Edmunds’ estimate is based on a sampling of data from about 40 percent of U.S. dealers. Get the full story »
From the Wall Street Journal | Chrysler is recalling 22,118 2010 Dodge Nitro, Dodge Ram, Jeep Liberty and Jeep Wrangler trucks and SUVs over a potential brake defect.
And Ford is recalling 33,728 2010 Transit Connect vans to replace pushpins holding up the cabin headliners.
Chrysler Group says it will make the first two months’ payments on most new vehicles bought this month in a bid to boost sales after a weak June. Chrysler will pay up to $500 per month for a total of $1,000 on most vehicles.
From the Chicago Sun-Times | Three Chicago area Chrysler dealerships that were among 789 that lost their agreements with Chrysler last year have settled or lost their appeals. The former Continental Chrysler Jeep in Countryside, now selling used cars and parts as Continental Auto Center, lost its appeal. Gregory Chrysler Plymouth Jeep of Lake Villa and Currie Motors of Forest Park reached cash settlements.
Chrysler says it’s adding 500,000 square feet for a larger body shop at its assembly plant in Belvidere. Chrysler senior manager Ross Good told city leaders Tuesday that the company needs the extra space at its north-central Illinois plant but has no immediate information about what will be made there or any work force changes. Good spoke to Belvidere’s mayor and city council.
Only a select few Chrysler dealers will earn the right to sell the Fiat 500 when it goes on sale in the U.S. in December, the company said Monday.
Chrysler is inviting about 2,300 Chrysler, Dodge, Jeep and Ram truck dealers to bid for about 125 Fiat franchises in 41 states. Get the full story »
Most automakers saw their U.S. sales drop from May to June, a sign that this year’s slow recovery in the industry may be stalling.
Americans are delaying big-ticket purchases because they’re worried about their jobs in a period of high unemployment. Nervous consumers could mean a tough summer for automakers, which hope to improve sales after a dismal 2009. Get the full story »
