2000 Ford Excursion 7.3l Diesel 4x4 4wd Offroad on 2040-cars

Auto blog

FCA close to paying off debt, outperforming Ford in earnings

FCA boosting output of SUVs, trucks in U.S. Marchionne says the company no longer needs a merger partner FCA expects to pay off all debt this year "There's a very strong likelihood that we will outperform Ford" MILAN/DETROIT — Fiat Chrysler's shift to sell more trucks and SUVs boosted margins yet again in its North American profit center, making Chief Executive Sergio Marchionne confident he can hit most of the final targets of his five-year turnaround plan. FCA has been retooling some U.S. factories to boost output of lucrative sport-utility vehicles and trucks while ending production of some unprofitable sedans. This put the world's seventh-largest carmaker on track to become debt-free by the end of the year, and allowed Marchionne to make good on his promise to close the gap on larger U.S. rivals General Motors (GM) and Ford. "There's a very strong likelihood that we will outperform Ford in terms of operating earnings in 2018," Marchionne told analysts on an earnings call Thursday. "That's something that if I told any of us in the room here that would've been doable five years ago, nobody would have believed it." As the 65-year-old executive prepares to hand over the reins to an internal successor next year, he said the improvements mean the company no longer needed a partner to survive. The carmaker has often been the subject of merger speculation, especially after its unsuccessful 2015 attempt to tie up with GM. "The necessity to find a partner, to try and guarantee our survival, going forward, is put to bed. I mean we're done," Marchionne told analysts on a post-results conference call. North America accounted for 71 percent of earnings last quarter, and profit margins in the region rose to 8 percent from 7.1 percent a year earlier, even as shipments fell 3 percent. Meanwhile Ford's automotive margin for North America slipped to 6.8 percent, down from 8.5 percent a year earlier.FCA trimmed its expectations for 2018 revenues and forecast adjusted operating profit of at least 8.7 billion euros, at the lower end of a previously given range. Analysts said FCA's margin improvement was impressive, and it could be on the cusp of a big boost from its new Jeep Wrangler and Jeep Cherokee models and its Ram 1500 truck. FCA ready to pay off its debt But the Italian-American carmaker expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros in net cash by the end of the year.

Autoblog Podcast #326

Easter Jeep Safari concepts, Shelby 1000, 2014 Cadillac CTS and Mercedes CLA45 AMG leaks
Episode #326 of the Autoblog Podcast is here, and this week, Dan Roth and Zach Bowman talk about this year's Easter Jeep Safari concepts, the 1,200-horsepower Shelby 1000 and leaked images of the 2014 Cadillac CTS and Mercedes-Benz CLA45 AMG. We wrap with your questions and emails, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Keep reading for our Q&A module for you to scroll through and follow along, too. Thanks for listening!
Autoblog Podcast #326:

Ford and Lincoln recall about 170,000 vehicles over defective rear-view camera

Ford and Lincoln have jointly issued a safety recall that includes nearly 170,000 vans and SUVs built between the 2018 and 2023 model years. The vehicles included in the campaign are equipped with a rear-view camera whose image can cut out while the driver is backing up. Assigned recall number 23V-598 by the National Highway Traffic Safety Administration (NHTSA), the campaign includes the following cars: 7,649 units of the 2020-2023 Aviator fitted with the standard rear-view camera and built from October 19, 2019, to August 17, 2023. 70,600 units of the 2018-2021 Navigator fitted with the 360-degree camera and built from March 16, 2017, to December 23, 2021. 66,740 units of the 2022-2023 Transit fitted with either camera system and built from February 26, 2021, to August 17, 2023. 24,468 units of the 2021 Bronco fitted with the 360-degree camera and built from September 23, 2020, to December 22, 2021. Ford explains that the defect is present in all of the 169,277 vehicles included in the campaign. While these are different cars equipped with different technology, they all suffer from the same problem. The company explains that "customers may intermittently experience either a rear camera blue image or a full blue or black image on the SYNC [infotainment system] screen when the vehicle is placed in reverse, or when the 360-degree view is selected and available." It adds that losing the camera's image while backing up increases the risk of the crash. The cause of the problem varies from model to model. Ford has narrowed it down to the camera hardware, the wiring retention, and the Image Processing Module - V (IPMB) software. It adds that "fretting corrosion causes tin oxide formation on the internal camera connector due to [a] thermally-induced micro-movement between the tin-plated contact surfaces," and that the rate of tin oxide accumulation depends on factors such as the temperature and the humidity. It has also traced some of these issues to a problem during the manufacturing process. Ford will begin notifying owners of affected vehicles by mail on October 2. When parts are available, owners will be asked to bring their van or SUV to an authorized dealer so that a technician can replace the rear-view camera. Transit models included in the campaign will also receive a software update. Owners who have already paid to fix the problem can claim a reimbursement until June 30, 2024. This isn't Ford's first rear-view camera-related recall.