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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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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"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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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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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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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.
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.
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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The increase is even greater when compared to 2009, when Chrysler had just come out of bankruptcy and joined forces with the Fiat Group. According to the SEC filing, the Detroit firm spent just $677 million on advertising in the second half of 2009.
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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.
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We've heard of thieves stealing wheels, tires, GPS and audio systems from cars, but pinching off doors from Jeep Wranglers is something new. However, that's exactly what's happening in Overland Park in Kansas, as thieves are taking doors off Jeep Wrangles and selling them online. Local police told KMBC news that four such thefts took place in the past few weeks alone. According to the report, because the Jeep Wrangler's doors are hinged on the outside of the vehicle, it's very easy to remove the bolts if the vehicle is unlocked. The Overland Park police suggested that owners should keep their cars locked [maybe a warning sticker similar to the one found on mirrors could help...] adding that there are special bolt kits that make it very difficult to remove the doors.
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The agreement enables the automaker to start building Jeep models in Italy and it’s also considered as a crucial step in Alfa Romeo’s U.S. launch. The deal was fiercely contested by a more hard-line Italian union, which threatened the deal with strikes. Fiat said last week that it’s ready to pull out altogether from the country if an understanding is not reached.
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