Chrysler Group Reports Smaller Losses in Q3 2010

A loss is a loss, but at least there's an improvement in the Chrysler Group's financial results for the third quarter of the year that ended on September 30, 2010. The American automaker, which is operated by Fiat SpA, reported an $84 million net loss in Q3, the smallest in the year and less than half the $172 million loss in the second quarter of 2010.

In other results, Chrysler said Net Revenues increased to $11,018 billion representing a 5.2 percent improvement over the prior quarter, while year-to-date Net Revenues, as of September 30, 2010, totaled $31,183 billion. The firm's operating profit rose 31 per cent from Q2 2010 to $239 million.

The company's global vehicle sales were 401,000 units for Q3 2010, a decrease of 1 percent compared to 407,000 units in Q2 2010. In the U.S., Chrysler's market share improved for the fifth consecutive quarter since the company's formation to 9.6 percent in Q3 2010 from 9.4 percent in Q2 2010 and 8.0 percent in Q3 2009.

After the announcement on the Q3 financial results, Sergio Marchionne, Chief Executive Officer of Chrysler Group LLC, stated:

"A year ago, Chrysler Group laid out clear and concise five year financial goals and after three consecutive quarters of better than forecasted results, we are not only living up to our commitments but we are also exceeding our 2010 financial objectives."

"Chrysler's financial success is dependent upon the vehicles we design, build and sell. In a mere 16 months, the Company is delivering 16 all-new or refreshed products led by the critically acclaimed all-new 2011 Jeep Grand Cherokee and including the Fiat 500, signaling the return of the Fiat brand to the U.S. and Canada. We are committed to ensuring that every new vehicle this company launches has the same high quality and technological advances as the Jeep Grand Cherokee. Our 2010 accomplishments are just the beginning of building Chrysler Group into a vibrant and competitive auto maker," Marchionne added.

VIDEO: Mopar’s Jeep J7 Stripper and NuKaiser 715, and Ram Power Wagon Concepts

Most likely, you have read our preview on Mopar's SEMA-bound tuned vehicles. If that's the case, then you may also be interested in the video after the break, as Jeep's Chief Designer, Mark Allen, does a show and tell on three Jeep and Ram concept vehicles.

First up is the Jeep Wrangler J7 Stripper that was enhanced by removing several parts, as Mark Allen's team decided to follow the "less is more approach". Amenities like carpets and fog lights are gone, in come 35-inch Mickey Thompson tires and a two-inch lift, which promise to make this Wrangler even more capable off-road.

Next up is the Jeep NuKaiser 715, which borrows most of its components from the J8 military truck. It relies on a 2.8-liter diesel engine to get it through rough terrain, as well as Dynatrac heavy-duty axles with air-lockers and 38-inch BF Goodrich tires. Also, to further resemble the original Kaiser truck, Jeep's designers chopped the top and added the bed of an AEV (American Expedition Vehicle).

For the grand finale we have the Ram Power Wagon, based on the most capable off-road truck that the Chrysler Groups sells today. The SEMA version has a 120 inch (3,05 meters) wheelbase, monstrous 40-inch tires and a 5.7-liter HEMI V8. It has "sort of a desert off-road flavor", as Mr. Allen puts it. Scroll down to watch the video.By Csaba Daradics

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10 Most Stolen Cars in the USA: Honda Accord and Civic Top the 2009 List, No Love for the Koreans or Germans

Do you own a car that's likely to be stolen? Maybe, maybe not. Here is the list that the NICB (National Insurance Crime Bureau) has compiled concerning the most stolen vehicles in America. Honda's 1994 Accord and 1995 Civic along with Toyota's 1991 Camry occupy the first three places ahead of Ford's 1997 F-150 pickup truck and Dodge's 2004 Ram pickup.

If your car is on the list (scroll down), you should make sure to keep that chunk of metal locked down. As in, put a ring on it and don't let anyone near it.

Most Stolen Vehicles in the US in 2009:

1. 1994 Honda Accord
2. 1995 Honda Civic
3. 1991 Toyota Camry
4. 1997 Ford F-150 Pickup
5. 2004 Dodge Ram Pickup
6. 2000 Dodge Caravan
7. 1994 Chevrolet Pickup (Full Size)
8. 1994 Acura Integra
9. 2002 Ford Explorer
10. 2009 Toyota Corolla

The FBI says car thefts were down 17% in 2009 compared to 2008 (794,616 versus 956,846), which is officially the "largest drop in a six-year decline" and the lowest reported in 21 years. Good news for car owners, and clearly indicative of the fact that car thieves are falling by the wayside (or just not up to snuff on their tech).

Most of the cars listed end to end up in chop shops where the sum of their parts is more valuable than the actual car. More serious thieves (those in syndicates with ties to shipping and international trade) still feel fine stealing newer cars that can be re-VIN'd and distributed overseas, so your Escalade and XJR aren't necessarily safe just yet.

You'll notice the majority of the cars on the list are from the 1990's. It turns out these older cars have become more popular, but many people have yet to figure out why. I'd say it probably comes down to the simple fact that they're easier to steal. Many modern cars have keys that only work with one specific car, while other cars simply can't be started without a chip (found in the key fob) nearby.

Joe Wehrle, NICB president and CEO, says, "Through the end of August this year there were 97,655 vehicles that were listed as stolen and not yet recovered. Of that number, only 38 percent had some kind of insurance coverage. So there are a lot of vehicles out there that are being stolen and the owner is left holding the bag with no car and no money to buy another one." Lesson? If you own a vehicle that's likely to get stolen, insure it accordingly and be safe about it.

Here are some of the NICB's tips on how to make sure your car doesn't get got by some shady individuals:

"Common Sense: Lock your car and take your keys. It's simple enough but many thefts occur because owners make it easy for thieves to steal their cars.

Warning Device: Having and using a visible or audible warning device is another item that can ensure that your car remains where you left it.

Immobilizing Device: Generally speaking, if your vehicle can't be started, it can't be stolen. "Kill" switches, fuel cut-offs and smart keys are among the devices which are extremely effective.

Tracking Device: A tracking device emits a signal to the police or to a monitoring station when the vehicle is stolen. Tracking devices are very effective in helping authorities recover stolen vehicles. Some systems employ "telematics" which combine GPS and wireless technologies to allow remote monitoring of a vehicle. If the vehicle is moved the system will alert the owner and the vehicle can be tracked via computer."

By Phil Alex

Source: NICB