William Maley

By William Maley Staff Writer - CheersandGears.com January 31, 2013 J.D. Power and Associates recently released their 2012 U.S. Navigation Usage Satisfaction Study and the results aren’t that surprising. Consumer happiness dropped 13 points in the study’s 1,000-point scale to 681, one of the lowest scores J.D. Power has ever recorded in the six years the study has been taken. Even worse was the overall satisfaction in voice controls, scoring 544 points out of 1,000. Even worse news for automakers: people are using their smartphones for navigation and point-of-interest searches.47% of the people surveyed had downloaded a navigation app to supplement their in-car system, up from 37% last year. The survey also revealed that owners “definitely would not” or “probably would not” buy the system in their vehicles if their smartphone’s navigation could be displayed on the screen. “Manufacturers of navigation systems face a serious challenge as smartphone navigation usage continues to rise and gains preference among vehicle owners. Free apps, up-to-date maps, and a familiar interface allow for quicker routing and improved interaction, including better voice recognition,” said Mike VanNieuwkuyk, executive director of global automotive at J.D. Power. Source: Wired Autopia William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

I like making things simpler.. Great idea

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By William Maley Staff Writer - CheersandGears.com January 30, 2013 Bloomberg is reporting that Fisker has hired hired Huron Consulting Group Inc. to help with day to day operations and to conserve cash while it goes searching for a partner. As we reported last Monday, Fisker is currently looking for a partner in China. Two people familiar with the situation say Fisker is currently seeking first-round bids by early February. If Fisker doesn't get the funds or has a partner by midyear, the company risks burning through cash a person tells Bloomberg. “We’re making prudent business decisions to help secure an alliance or partnership,” said Fisker spokesman Roger Ormisher. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

By William Maley Staff Writer - CheersandGears.com January 30, 2013 Today, Chrysler announced its earnings for 2012 and the results are staggering. The company reported a net income of $1.7 billion, up substantially from minuscule $183 million profit earned in 2011. Chrysler also saw their 4th quarter net income increase from $225 million in 2011 to $378 million in 2012. The massive increases is due to Chrysler's market share increasing to 11.4%. Chrysler also unveiled a updated product plan for all of its brands. The big news is that Chrysler and Dodge have dropped their Fiat-based models. Instead, Fiat will introduce five new models including compact and subcompact cars. Here is the full breakdown: Alfa Romeo: 2013 will hopefully see the arrival of the 4C In 2015, four new models will be arriving. Chrysler: Originally Chrysler was to have three small vehicles built by Fiat in 2013. However those have been cut. New 200 is due out in 2014. Another model will get a refresh. 2015 sees three new models Dodge: Much like Chrysler, Dodge is dropping two Fiat built models. One model will see a refresh this year. Two models will get a refresh in 2014. New models are coming in 2015 and 2016. Fiat: The three Chryslers and two Dodges will become Fiats. Those will be coming in 2015 and 2016. 500L coming sometime this year Jeep: 2013 will see new Liberty/Cherokee 2014 is the new subcompact model based on a Fiat platform 2015 sees two new models. One of them is expected to be a new seven-seat Grand Wagoneer 2016 will see two models be refreshed Ram: Ram ProMaster (Sprinter replacement) due out sometime in 2013. 2014 will see the Ram van based on the Fiat Doblo 2016 will see two new Rams SRT: 2014 will see the 300, Charger, and Challenger get a refresh. 2015 is the Viper refresh. A new model is expected to join in 2016. Source: Chrysler William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] you can follow him on twitter at @realmudmonster. Press Release is on Page 2 Chrysler Group Reports Full-year 2012 Net Income of $1.7 Billion Full-year Modified Operating Profit Totaled $2.9 Billion, Up 47 Percent, and Free Cash Flow Was $2.2 Billion Chrysler Group LLC’s full-year 2012 net income improved more than eight-fold to $1.7 billion, from $183 million a year ago Net revenue for the year was $65.8 billion, up 20 percent from $55.0 billion a year ago; fourth-quarter revenue was up 13 percent to $17.2 billion Modified Operating Profit(b) improved to $2.9 billion for the year, up 47 percent from the prior year; fourth-quarter Modified Operating Profit was up 40 percent to $711 million Cash(d) at year’s end was $11.6 billion compared with $9.6 billion a year ago and $11.9 billion at Sept. 30, 2012; Free Cash Flow(e) for the year was $2.2 billion compared with $1.9 billion a year ago Net Industrial Debt(f) was $1.0 billion at Dec. 31, 2012, an improvement of $1.9 billion from a year ago Worldwide vehicle shipments were 2.4 million for the year, up 20 percent from 2.0 million a year ago; fourth-quarter shipments were 613,000 Worldwide vehicle sales for the full year 2012 totaled 2.2 million, up 18 percent from a year ago; fourth-quarter sales were 533,000 January 30, 2013 , Auburn Hills, Mich. - Chrysler Group LLC today reported preliminary net income of $1.7 billion for the full year 2012, up from net income of $183 million a year ago, exceeding the guidance provided earlier in the year. Full-year 2011 Adjusted Net Income(a) was $734 million, after adjusting for the $551 million loss on extinguishment of debt recognized in the second quarter of 2011. “While we are pleased to have achieved strong financial results in 2012, the enterprise we are crafting is not complete,” Chrysler Group LLC Chairman and CEO Sergio Marchionne said. “The goals we’ve set for the year ahead reflect a common desire by everyone from leadership to the shop floor to succeed and sustain the power of the house we are building. Our aim is meaningful, but it is not complicated, and only a preoccupation with quality can achieve it. We pause for a moment to enjoy our accomplishments, but we will not stop. Our continued achievement relies upon maintaining a humble spirit and an intense focus on the integrity of our work. And so we press on.” For the fourth quarter, net income was $378 million on revenue of $17.2 billion, up 68 percent from $225 million a year earlier. For the year, the Company reported revenue of $65.8 billion, an increase of 20 percent from a year ago, primarily due to higher vehicle shipments. Modified Operating Profit was $2.9 billion for the year, or 4.4 percent of revenue, up 47 percent from $2.0 billion reported in the prior year. The increase resulted from continuing strong sales and pricing, partially offset by an increase in the proportion of sales from passenger cars, including the Dodge Dart and Fiat 500, versus trucks and SUVs; increased research-and-development costs for future models; and increased spending on advertising. Modified Operating Profit for the quarter was $711 million, a 40 percent increase from the same period last year. Modified EBITDA© was $5.5 billion for the year, or 8.3 percent of net revenue, an increase of 15 percent from the prior year. For the fourth quarter, Modified EBITDA was $1.3 billion. View full article

By William Maley Staff Writer - CheersandGears.com January 30, 2013 BMW is hard at work on a front-wheel drive assault, with the company considering almost twenty-three FWD vehicles (Twelve for BMW, eleven for MINI). One of those vehicles could be a two-seat roadster, due out in 2015 “We are considering a car in the spirit of the original Z3. It is of similar size to the E36/7 [the codename for the Z3 produced between 1996 and 2002] but is planned to use the front-wheel drive platform to keep costs down and achieve a margin level that ensures it is sustainable at comparatively low production volumes,” a BMW official reportedly told Autocar. Codenamed Z2, the model will sit underneath the Z4 and compete with the Miata/MX-5. The Z2 will come with a range of gas engine, including a 2.0L turbocharged engine producing as much as 300 horsepower. Source: Autocar William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

By William Maley Staff Writer - CheersandGears.com January 30, 2013 When Jeep introduces the new Liberty SUV at the New York Auto Show later in March, it might be wearing a new nameplate. “There are clearly only two options for the name of this vehicle: It’s either going to be Cherokee or it’s going to be Liberty. We are going to make that decision in the very near future. Both of them are historical names, Cherokee more so than Liberty,” said Jeep President and CEO Mike Manley. The Liberty replaced the Cherokee in 2002 and has been struggling for sales during its lifespan. Outside of North America, Jeep has left the Cherokee nameplate. Also coming from Jeep is a new subcompact SUV coming within the next two years. The subcompact model would be based on the Fiat Panda and replace the Compass and Patriot models. Manley says the vehicle will be "a Jeep with Jeep DNA.” Source: Wards Auto William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

By William Maley Staff Writer - CheersandGears.com January 29, 2013 Originally retailing for $39,995, Ford is now listing the Focus Electric for $37,995. But that's not all! If you decide to do a three-year lease on a Focus Electric, Ford will offer up to $10,750 in discounts. An example three-year lease with 10,500 miles per year could cost a customer $285 per month, with $930 due at signing. Why is Ford offering these massive discounts on the Focus Electric? Slow sales. In 2012, Ford built 1,627 Focus Electrics. However, the company has only moved 685. "We certainly are not in a situation where we have to completely discount,, but we do have to respond to competitive pressures. We're not anywhere close to where Nissan has gone with the Leaf," said Ford spokesman Wes Sherwood. Ford is the latest automaker that is using discounts to help spur the sales of electric vehicles. Nissan offered huge incentives last year due to underwhelming sales. Source: The Detroit News William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

By William Maley Staff Writer - CheersandGears.com January 29, 2013 The Geneva Motor Show. a place where you'll see such automakers like Ferrari, Mercedes-Benz and Ford show off their wares. According to Autoweek, add Chevrolet to that list. Autoweek has learned from a few of its sources that Chevrolet will debut the Corvette Stingray convertible at the Geneva Motor Show in March. This isn't the first time Chevrolet has premiered a Corvette outside of the U.S.. At the 1989 Geneva Motor Show, Chevrolet introduced the hottest Corvette, the ZR-1. There is talk the convertible version could go on sale at the end of this year as a 2014 model. Sources explain the convertible will be about three months behind the launch of the coupe. Production of the coupe is expected to start in August, which means a November start for convertible production. Source: Autoweek William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article

By William Maley Staff Writer - CheersandGears.com January 29, 2013 Ray LaHood, the Transportation Secretary of the Obama administration announced today that he would be stepping down. "I have let President Obama know that I will not serve a second term as Secretary of the U.S. Department of Transportation. It has been an honor and a privilege to lead the Department, and I am grateful to President Obama for giving me such an extraordinary opportunity," LaHood wrote in an email. LaHood has put forth a number of initiatives during his time as transportation secretary including a campaign to reduce distracted driving, promote high-speed rail, and repair roads and bridges. "I plan to stay on until my successor is confirmed to ensure a smooth transition for the Department and all the important work we still have to do," LaHood said. Source: Associated Press William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article