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Oct 30, 2012

CARMAKERS NEWS * USA

* Michigan - Chrysler's 3Q profit rises 80%
Auburn Hill,MICH,USA -The Detroit News, by Bryce G. Hoffman -October 30, 2012: -- Chrysler Group LLC reported a net profit of $381 million for the third quarter of 2012 on Monday, up 80 percent from the $212 million profit the company reported for the same period a year ago.It was further proof that the Auburn Hills automaker's recovery is continuing, and should help offset the losses that its Italian parent company, Fiat SpA, is expected to announce today...  Monday's results mark the third consecutive quarter of solid profitability for the company, which means the 26,000 members of the United Auto Workers employed in Chrysler's factories are one step closer to receiving the rest of their signing bonus as stipulated by the unions 2011 agreement with the automaker...
* Michigan / USA - Ford Makes a $1.6 billion Q3 Profit Despite Mounting Loses in Europe 
Dearborn,MICH,USA -Carscoop -October 30, 2012: -- The Blue Oval posted its third quarter results on Tuesday reporting a net income of $1.6 billion or 40 cents per share, which is about the same as the third quarter 2011. Ford has been recording a pre-tax profit for 13 consecutive quarters... Even though its European unit continued to downward spiral posting a $468 million loss in the quarter (from a $306 million loss last year), Ford's North America unit achieved its highest quarterly profit and operating margin since at least 2000, at $2.3 billion and a 12 percent operating margin... Ford has already announced a re-structuring plan for its European business that calls for the closure of three facilities in Belgium and the UK and the relocation of production... 

* Michigan - Ford to sell parts operation in Plymouth Twp. Climate control firm is last in plan to sell or close 15 sites 

Dearborn,MICH,USA -The Detroit News, by Karl Henkel -October 30, 2012: -- Ford Motor Co.'s plan to sell or close 15 auto parts operations or plants has come to fruition after seven years... The Dearborn automaker said Monday it plans to sell the last remaining Automotive Components Holding LLC operation — a climate control business in Plymouth Township... The move is a ripple of Ford's spin-off of its parts-making operation as Visteon Corp. in 2000... Ford agreed to take back most of Visteon's North American factories as part of a 2005 bailout and set up a holding company to manage 17 component factories and prepare them for sale or closure... Ford took back two plants... The automaker estimates it saved 20,000 jobs through its efforts with ACH... Ford sporadically sold off ACH operations and plants, including a transaction earlier this year when Ford sold the interior trim components business in Saline and automotive lighting business in Sandusky, Ohio...


* Michigan / USA - So, Is Jeep Really Moving To China, Or What?

Auburn Hill,MICH,USA -The Car Connection, by Richard Read -Oct 29, 2012: ... "In the pre-Fiat days, however, some Jeep models destined for China were built in in Chinese plants" ... That is exactly what the author of the Bloomberg article with the poorly worded headline was going on about. To streamline production during the Great Recession, Chrysler CEO, Sergio Marchionne, had Jeeps for the Chinese market built in the U.S. ... To meet growing demand, however, Marchionne is now in talks with Guangzhou Automobile Group about the possibility of making some -- or perhaps all -- Chinese-bound Jeeps in China itself... 

* Michigan / USA - Chrysler Falls Victim to Internet Fear-Mongering 

Auburn Hill,MICH,USA -Wards Auto, Final Inspection, by Aaron Foley -Oct. 26, 2012: ... Bloomberg reported this week that Jeep is considering production in China after a lengthy absence there. What’s lost in translation is a quickly spread miscommunication that Chrysler would end Jeep production here in the States as a result. Anyone with the slightest hint of common sense knows Chrysler wouldn’t take the chance of riling up the American public during election season by announcing they plan to ship Jeep jobs to China. Michigan’s lawmakers on both sides of the aisle would be up in arms, not to mention the difficulty of breaking ties with the UAW here...  That debunking didn’t reach Republican presidential candidate, Mitt Romney, in time, who reportedly told an Ohio crowd the same night as Raineri’s blog that Jeep, “owned by the Italians, is thinking of moving all production to China” ...  Not true, governor. The Romney camp has yet to correct itself, so perhaps we’ll have to rely on Snopes...

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