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Fiat Chrysler's profit boosted by Ram and Jeep in North America

MILAN/DETROIT — Fiat Chrysler took the market by surprise by sticking to its full-year profit guidance on Wednesday after a strong performance from its Ram pickup truck in North America helped it defy an industry slowdown. Chief Executive Mike Manley, in FCA's first earnings release since a failed attempt to merge with France's Renault, also left the door open to that or other deals. "We are open to opportunity," Manley said on a call with analysts. "I have no doubt why there still would be interest in it," he added, when pressed on what it would take to revive talks with Renault. Manley declined to comment further. FCA last month abandoned its $35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world's third-biggest automaker. Manley said a merger was not a must-have and Fiat Chrysler's business plan was strong. The company said it remained confident its adjusted earnings before interest and tax (EBIT) would top last year's 6.7 billion euros ($7.5 billion). Given disappointing forecasts from other automakers this earnings season, FCA's confirmation of the outlook sent Milan-listed shares in the Italian-American automaker, whose other brands include Jeep, up over 4%. A broad-based auto sales downturn has rattled the sector, forcing FCA's competitors — including Renault, Daimler and Aston Martin — to cut their sales forecasts after second-quarter results, while U.S. carmaker Ford gave a weaker-than-expected 2019 profit outlook. Japan's Nissan, a long-term partner of Renault, said it would cut 12,500 jobs by 2023 after its earnings collapsed. In the second quarter FCA's adjusted EBIT totaled 1.52 billion euros, versus analysts' expectations of 1.43 billion euros, according to a Reuters poll. FCA's U.S. shipments were down 12% in the second quarter but the group said that the successful performance of its Ram brand resulted in an enhanced share of the large pickup truck market of 27.9%, up 7 percentage points from last year. Adjusted EBIT margin in North America rose to 8.9% from 6.5% in the first quarter, thanks to strong demand for the heavy-duty Ram and the new Jeep Gladiator pickup. Chief Financial Officer Richard Palmer also said FCA expected to report up to 10% margins in the region in both the third and fourth quarters.

The 2020 Alfa Romeo Giulia's infotainment system is new, but is it better?

When Alfa Romeo introduced the Giulia in 2017, it was praised for its its on-road manners, its gorgeous styling and its performance credentials. It was criticized for, well, just about everything else, including a clunky, low-resolution and feature-light infotainment system. Enthusiasts can forgive many of a car's flaws so long as the driving experience is stellar, and for that reason, the Giulia quickly became a darling. But Alfa can't depend on enthusiasts alone to buy its cars; they need to be seen as legitimate players in the luxury market, and to do that, they need interior tech and materials to match their price points.  For 2020, Alfa Romeo addressed the Giulia's shortcomings. The infotainment system was overhauled, with a new 8.8-inch touchscreen headlining a host of additional features. The Giulia now has acoustic glass for a quieter, more luxurious cabin, and some much-needed material improvements on the steering wheel, dash and center console. There's also a new USB Type-C outlet, a wireless device charging option and some other behind-the-scenes features, like a wireless hot spot and over-the-air firmware update capabilities.  The Giulia's original infotainment system was criticized for its low-res screen with no touch interface, a lack of quick access buttons for key features, and a lack of depth when it came to integrated tech. On paper, Alfa has addressed all of these shortcomings, but I wanted to see how it performs in the real world. To do this, I set aside some time with the 2020 Alfa Romeo Giulia Quadrifoglio to dedicate solely to exploring its new tech features. What I found was a bit of a mixed bag.  Let's start with the interface itself. The 8.8-inch screen used to be an upgrade, but the extra real estate is now standard and, as we mentioned up top, it's now a touchscreen. Both the resolution and the quality of individual page graphics have been significantly improved compared to the old software. Alfa says the underlying hardware was improved to support the improved visual experience.  Improved, perhaps, but not perfected. The interface still lags inputs (especially touch) and lacks a crisp, responsive feel. Even after the system has fully loaded, there's a visible delay between finger gestures and responses from the interface.

Chrysler appoints new heads of Alfa Romeo and Ram

Chrysler has announced to two key appointments to its senior leadership, both of them taking immediate effect. First up is Reid Bigland, who has been named head of the Alfa Romeo brand for North America. Bigland has served until now as head of the Ram Truck brand, a portfolio he now hands over to Robert Hegbloom, who had served until now as its director.
As a result of the appointments, both Bigland and Hegbloom will take up seats on Chrysler's NAFTA Leadership Team, and Bigland will also join the Fiat Chrysler Group Executive Council - the highest decision-making body in the Fiat Chrysler Automobiles empire.
As per Sergio Marchionne's leadership style, Bigland will continue to serve in two major capacities, maintaining his role as president and CEO of Chrysler Canada. Other senior executives who hold multiple key portfolios include Harald Wester (who serves as the group's Chief Technology Officer and also overseas Alfa Romeo, Maserati and Abarth), Olivier Francois (group Chief Marketing Officer and head of the Fiat brand) and Michael Manley (head of the Asia-Pacific region and the Jeep brand).