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Bill Cawthon wrote:
Chrysler has named a new head of product development to replace Richard Schaum, a veteran engineering chief who is retiring after 37 years with the company.Eric Ridenour, 44, (who is not German) will take over for the 56-year-old Schaum as executive vice president of product development and replace Schaum as a member of Chrysler's executive committee, the company said in a statement.
Craig Love (also not German) reportedly will be taking over product development at Chrysler's passenger car division.
Even though the Viper was the first American production-based car to win the 24 hour Daytona Le Mans, Chrysler will postpone further Le Mans participation for at least two years to concentrate on NASCAR. John Fernandez (see bio on Allpar) is also focusing efforts within the NASCAR teams on a year-long strategy to win the Winston Cup. In addition to technical advances (and the successful sharing program), Chrysler will start a driver development program patterned on Penske's system. Meanwhile, the Viper will most likely be campaigned by independent teams, given the performance and value of the Competition Coupe and the likelihood of a GTS-R replacement in the future. (Thanks, Doug Hetrick; from AutoWeek)
With the apparent success of the new quad cab version of the Tundra, Toyota is planning a new full-sized truck factory in Texas. This increased competition is bound to hurt the Big Three, already in a spiraling competition that threatens to reduce the profitability of their last bastion of American sales strength.
The Chrysler Crossfire started production today. This vehicle had a fast approval-to-production time, largely because it required almost no new parts other than sheet metal, being essentially a reskinned Mercedes.
(From DCX) DaimlerChrysler has announced preliminary key figures for the Group's performance in the 2002 financial year. An operating profit excluding one-time effects of EUR 5.8 billion was achieved (2001: EUR 1.3 billion). Operating profit including one-time effects amounted to EUR 6.9 billion after an operating loss of EUR 1.3 billion in 2001. Despite difficult market conditions, DaimlerChrysler's operating profit was thus more than four times as high as in the prior year.
In the first nine months of 2002, operating profit included net one-time effects of EUR 1.6 billion. DaimlerChrysler published details of these in the context of its quarterly interim reports. In the fourth quarter of the year 2002, Commercial Vehicles recorded one-time charges of EUR 452 million. These charges were primarily caused by increased structural changes in the Mercedes-Benz Trucks, DaimlerChrysler Buses and Coaches, DaimlerChrysler Powersystems and Mercedes-Benz Vans business units. In the Services division there were additional charges of EUR 168 million due to write-downs in connection with the sale of parts of the Capital Services portfolio.
Net income excluding one-time effects rose to EUR 3.3 billion (2001: EUR 0.7 billion), while earnings per share excluding one-time effects amounted to EUR 3.30 (2001: EUR 0.73).
Net income including one-time effects amounted to EUR 4.7 billion (2001: net loss of EUR 0.7 billion), and earnings per share including one-time effects EUR 4.68 (2001: a loss per share of EUR 0.66).
DaimlerChrysler's total revenues in the year 2002 decreased by 2% to EUR 149.6 billion. Adjusted for changes in the consolidated Group and exchange rate effects, revenues increased by 1.6%.
The Board of Management proposes to the Supervisory Board to distribute a dividend of EUR 1.50 per share for 2002 (2001: EUR 1.00), a 50% increase. The final decision on the dividend will be taken by the Annual Meeting to be held in Berlin on April 9, 2003.
According to Automotive News, Jeep will add a Wrangler pickup called the Scrambler in July 2004, with projected sales of 20,000 per year. The concept, shown at the NADA conference this weekend, uses a stretched Wrangler wheelbase to add a four foot bed behind a two passenger cab. It will be available with long and short wheelbases and four and six cylinder engines.
2003 Wranglers moved to using the 2.4 liter corporate four cylinder engine and the 42LE automatic transmission, replacing the old three-speed automatic. It seems likely that future Wranglers, including the Scrambler, will use a different six cylinder engine as well - or that Jeep hopes to build up enough volume to justify producing the AMC in-line six in an era of DCX standardization.
While previous statements have Chrysler engines supplanting Mitsubishi designs, engines from 2.5 to 3.0 liters may be based on a Hyundai design, with the Korean company receiving "tens of millions" of dollars in royalties. The engines would most likely be made in Japan and the United States, and used in the upcoming "D" car replacements (Galant, Sebring, Stratus). The new engine would presumably replace Chrysler's 2.7 liter, 200 horsepower and Mitsubishi's venerable 3.0 liter, 200 horsepower powerplants. (From a posting by "Mighty Land" based on articles in Detroit News).
After years of lackluster minivans, it appears that Toyota is aiming straight for market leadership with the redesigned Sienna. Soon to appear as a 2004 model, it will sell for under $23,000 with a 230 horsepower V6, five speed automatic, and 27 mpg on the highway. Torque is 242 lb-ft. There appears to be a minivan horsepower war which Chrysler is sitting out, at least this year.
Dieter Zetsche will be on hand for a public celebration of the launch of the much-delayed Chrysler Pacifica on February 7. The Pacifica, based on a highly modified version of the minivan platform, has been rumored to be the basis of the next-generation vans.
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