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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.

Chrysler recalls 350k vehicles over ignition switches

Chrysler has announced a recall covering 349,442 vehicles due to ignition switches that can either become stuck or move without warning. All of the affected vehicles are from the 2008 model year, and were built before May 12, 2008.
The automaker has learned that ignition keys on some vehicles "may not fully return to the 'ON' position after rotation to the 'START' position during engine-startup," the company said in a statement. Additionally, "an ignition key may not fully return to the 'ON' position after rotation to the 'START' position and may inadvertently move through the 'ON' position to 'ACCESSORY' or 'OFF.'"
Chrysler says it is unaware of any related injuries, and notes that while reduced braking, engine or steering power is possible in such instances, the airbags are not affected. The later stands in contrast to General Motors' recent rash of high-profile recalls, and it's an important distinction that Chrysler (understandably) felt necessary to call out in bold print in its press release.

Jeep Wrangler Polar Edition coming to America

Jeep originally took the wraps off its Polar Edition Wrangler at the Frankfurt Motor Show in September, and at the time, we figured this would be a Europe-only affair. (Perfectly fine, since we US customers haven't exactly been lacking special edition Wrangler models over the years.) But now, and as Jeep says, just in time for winter, the automaker has announced that the ice cold Wrangler will be hitting North American showrooms in November.
Based on the Wrangler Sahara model, the Polar Edition can be had in either two- or four-door body styles, with a unique Hydro Blue paint job as the featured color. (Buyers can also opt for less-special Billet Silver and Bright White hues.) Other exterior enhancements include a body-colored hardtop, 18-inch gloss black wheels, the Powerdome (power bulge) hood, and unique decals all around the body.
But the Polar Edition isn't just about some paint and stickers. Jeep has fitted this Wrangler with a Dana 30 front axle and Dan 44 rear axle, as well as the Trac-Lok anti-spin electronic rear differential. Like all US-spec Wranglers, the Polar Edition uses Jeep's 3.6-liter Pentastar V6, producing 285 horsepower and 260 pound-feet of torque. Both a six-speed manual and five-speed automatic transmission are available.