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Chrysler reports $166M net income for Q1, down $307M vs. 2012

Preliminary first-quarter results from 2013 have been announced by Chrysler, and the company is reporting a net income of $166 million on revenue of $15.4 billion. Compared to this period last year, net income is down $307 million and revenue has dropped $1 billion.
Chrysler says that its quarter was negatively affected by the costs associated with launching its 2013 Ram Heavy Duty, 2014 Jeep Grand Cherokee and preparation for the return of the all-new 2014 Jeep Cherokee pictured above. The launches should provide a strong second half of 2013, says the automaker. "We remain on track to achieve our business targets, even as the first-quarter results were affected by an aggressive product launch schedule," said Chrysler Group LLC Chairman and CEO Sergio Marchionne.
On a positive note, the automaker says worldwide vehicle sales are up 8 percent from one year ago, a number pushed by a 12 percent bump in U.S. retail sales. In addition, domestic market share has risen slightly, up to 11.4 percent from 11.2 percent last year. Read more in the official statement below.

Jeep mulling power top for next Wrangler

Jeep is hard at work on the next-generation Wrangler, though the truck is still a few years from hitting the trails. The new model will still be aimed at off-roaders, but rumors suggest it will be a little more comfortable than previous versions to appeal to more people.
According to Road and Track, Jeep is developing a power-retractable top as an expensive option for the Wrangler. There is no word if the top in question is a sliding canvas rollback like the ones found on many European vehicles or a full convertible hardtop or softtop, nor do we know whether it would be made available on two- or four-door models. It might be a nice feature for some buyers but would certainly add complexity to a truck already known for its ruggedness. We asked Jeep for confirmation, but Jeep spokesperson Todd Goyer could only remind us that the company "can't comment about future products."
In news that is likely to irk the faithful, R&T reports the next model may also ditch its folding windshield for improved safety and possibly even get rid of its rear-mounted, full-size spare tire. The new Wrangler won't go completely soft, though, and will reportedly still feature removable doors and solid axles.

What's really going on with the 2014 Jeep Cherokee's transmission issues?

On September 23, Automotive News reported that Chrysler had idled the second shift workers it hired just five weeks prior at its Toledo Assembly Complex to build the 2014 Jeep Cherokee. At the time, Chrysler said it had "built the critical number of vehicles we need to stock dealerships once containment is released" and did not want "to put additional strain on our logistics partners ... upon release." That reasoning was not only unusual, it didn't seem to make sense.
It appears the center of the nine-speed issue is software, not hardware.
That same day, the Detroit News ran a piece claiming workers at the Toledo factory said the halt was due to issues with the Cherokee's transmission. It put the number of already-built Cherokees needing fixes at 1,000 and said that some of the workers not laid off had been instructed "to take the Jeep on long test-drives." That made more sense. Three days later, on September 26, Automotive News reported that the 500 workers laid off had been reinstated, with engineers "speeding repairs on the SUV's powertrain software." The AN piece didn't put a number on how many units are being fixed, but it did say that 12,000 have been built and are awaiting delivery to dealers. The best it could say about when dealers will get them, however, is that "progress on a fix is being made. It's unclear when shipments to dealers will start."