Chrysler’s Street and Racing Technology (SRT) now stands alone as its own brand, and the division is hungry for new models to peddle. The first of those is the 2013 Viper, but our colleagues at Motor Trend report that SRT already is mulling adding two more models to the mix.
The two new vehicles will be SRT-specific models, just like the 2013 Viper. That means they have no non-performance counterparts, unlike the existing SRT versions of Chrysler vehicles (Jeep Grand Cherokee SRT8, Dodge Charger SRT8, Chrysler 300C SRT8, and Dodge Challenger 392 SRT8).
The first model that MT promises is a muscle car called the SRT Barracuda. Based on an interview with Chrysler CEO Sergio Marchionne, we reported on the arrival of this car in the July 2012 issue of Automobile Magazine.The Barracuda name has plenty of history as a Plymouth muscle car, but Chrysler Group won’t try to resurrect the erstwhile brand.
The Barracuda will debut in 2015, just as the Ford Mustang and Chevrolet Camaro are redesigned. The Dodge Challenger may live on until 2017, but the Barracuda is designed to replace the Challenger, and provide more competition to the popular Chevy and Ford pony cars. MT reports that the rear-drive Barracuda will be based on a new platform called LA, which is a smaller version of the chassis used for the current Dodge Charger and Chrysler 300. The Challenger, meanwhile, will most likely soldier on unchanged.

Group 1 Automotive Reports Record Profits For First Quarter 2012

First-Quarter 2012 Highlights

Total revenues of $1.66 billion were the best reported first quarter and second-best all-time quarter in the history of the company.

Total gross margin was 15.6 percent, as gross profit grew 17.4 percent from the prior year to an all-time record of $260.4 million.

New vehicle gross profit increased 23.5 percent on 16.3 percent higher revenues, as the company retailed 13.1 percent more units and the average selling price expanded 2.9 percent, to $32,674.

Retail used vehicle unit sales surged 24.0 percent and the average selling price increased 3.4 percent, to $20,000, driving gross profit growth of 25.9 percent on 28.3 percent higher revenues.

Parts and service revenues increased 9.3 percent from the prior year, reflecting continued growth in customer-pay, wholesale parts and collision businesses.

Finance and insurance gross profit per retail unit of $1,175 was also a record first-quarter result.

Further demonstrating the improving cost leverage, selling, general and administrative expenses as a percent of gross profit improved 280 basis points, to 76.5 percent, from the prior-year period.

Operating margin expanded to 3.2 percent, a 40 basis-point improvement from the prior-year period.

"Group 1's strong, first-quarter operating and financial results included record-setting revenues, gross profit and earnings for our shareholders," said Earl J. Hesterberg, Group 1's president and chief executive officer. "In addition, I am delighted with our operating margin expansion, which reflects the improvements and efficiencies we have implemented during the last several years. Based on the first-quarter results, we now expect new vehicle industry sales of 14.5 million units in 2012."

Corporate Development Recap As previously announced during the first quarter, Group 1 added three franchises to its portfolio including Volkswagen, BMW and Hyundai franchises that are expected to add $143.5 million in annual revenues.

First-Quarter Earnings Conference Call Group 1's senior management will host a conference call today at 10 a.m. ET to discuss the first-quarter financial results and the company's outlook and strategy.