Thanks to the Jeep brand and Ram trucks, Fiat Chrysler saw its net profit jump to $1.92 billion in 2015. That will mean profit sharing checks will be going out to its UAW union workers to the tune of $5,000 each.
A pension accounting change caused Ford to report its first quarterly net loss in seven years. But take out one-time items, and that is what Wall Street does, and Ford reported earnings that fell one penny shy of most market forecasts. And for all of 2016, the automaker its second best pretax profit ever. Its UAW workers will receive checks averaging $9,000 in profit sharing.
GM will check in with earnings in February.
Mercedes-Maybach released specifications for the 2017 S600 and it should please those who want lots of power. Up front will be a 6.0-liter V12 biturbo rated at 523 hp @ 4,900 rpm to 5,300. Torque? Oh a tad. 612 lb-ft @ 1,900 rpm to 4,000 rpm. All that will be hitched to a 7 speed TRONIC automatic transmission. Mercedes cites a 0-60 of just 4.5 seconds and a track top speed of 155 mph. Start saving now. MSRP is $191,300.
J.D. Power predicts new vehicle sales will dip 2.0 percent this month compared to one year ago. Officials said the decline was not unexpected following impressive sales gains last December. “While this year will mark the first time that the industry has started off with a retail sales decline since 2010, the retail SAAR remains robust. The challenges for the industry remain maintaining profitability while coping with high inventory levels and elevated incentives, which continue to rise year over year,” said Deirdre Borrego, senior vice president of automotive data and analytics at J.D. Power. Trucks account for 63.3% of new-vehicle retail sales so far in January—the highest level ever for the month of January. Despite the slow start, Power predicts another record year for vehicle sales.
Three winners of Green Car Journal’s Green Car Awards have been announced. Named 2017 Connected Green Car of the Year is the Mercedes-Benz C350e, with the 2017 Green SUV of the Year awarded to the BMW X5 xDrive40e and the 2017 Luxury Green Car of the Year to Acura’s new NSX.