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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.

Alfa Romeo franchises 86 dealers across North America

Alfa Romeo's return to North America has been a long time coming, which has given us plenty of time to wonder: Will the now-merged Fiat-Chrysler let Fiat dealers sell Alfas, or will the shapely Italians be available in Maserati dealers? The answer we've been waiting for? Both. Auburn Hills has just released the list of 86 initial dealers that will be authorized to sell the Alfa Romeo 4C (Autoblog senior editor Seyth Miersma is driving one today in San Francisco, incidentally), setting the groundwork for a larger Alfa Romeo lineup to follow. The list includes 82 dealers across 33 states and four more in Canada. Though the vast majority are expanding upmarket from Fiat studios, a few are branching downmarket from Maserati dealers - not a one of them, in case you were wondering, having expanded from a Ferrari showroom. The highest concentration of dealers will be found in California, Texas and Florida, but while you might have thought Little Italy would be a prime location, there won't be a single dealer in Manhattan. Not in any of the five boroughs, in fact, so if you live in New York, you'll have to trek out to Larchmont in Westchester or Somerville, New Jersey, to place your order. Of course, that's at least the case for now, as Alfa plans to eventually expand to over 300 dealers in North America. In the meantime, you can check out the full list in the press release below to see how close you are to a new Alfa dealer. ALFA ROMEO FRANCHISES AWARDED TO 86 DEALERS IN U.S. AND CANADA - Alfa Romeo dealer network established in U.S. and Canada - Initial pool of 86 dealers drawn from existing FIAT and Maserati brand dealers - Additional Alfa Romeo franchises to be awarded later this year June 10, 2014 , Auburn Hills, Mich. - An initial group of 86 dealers have been awarded Alfa Romeo franchises in the United States and Canada. In the U.S., 82 Alfa Romeo dealers are located in 33 states, with California, Texas, and Florida having the largest concentration of dealerships. There are four Alfa Romeo dealers in Canada in this first group. These 86 dealers will be the first to sell the all-new 2015 Alfa Romeo 4C coupe and limited-edition 4C Launch Edition when the iconic Italian sports car brand returns to the North American market this year. "This group of dealers represents the first phase in the Alfa Romeo dealer network selection process," said Peter Grady, Vice President of Network Development, Chrysler Group LLC.

Alfa Romeo unveils more details about US-spec Giulia

Last November, Alfa Romeo unveiled some of the tech specs about the 2017 Giulia in the US, but now the company has released even more details about the lower trims ahead of their upcoming appearance at the New York Auto Show. We still don't officially know their prices, but the Giulia arrives here in three trims: a standard model, the mid-range Giulia Ti, and the high-performance Giulia Quadrifoglio. The Giulia and Giulia Ti use a turbocharged 2.0-liter four-cylinder engine with 276 horsepower and 295 pound-feet of torque. Power routes through an eight-speed automatic to the rear wheels, and the sedans can reach 60 miles per hour in 5.5 seconds. The optional Q4 all-wheel drive system can send up to 60 percent of the torque to the front axle when necessary. However, there's no word yet how this layout affects performance. Even the lower rungs of the Giulia range have a sporty demeanor. Standard features include a seven-inch driver info display between the analog gauges, a flat-bottom steering wheel, and keyless start. Depending on model, they come with either a 6.5-inch or 8.8-inch widescreen infotainment system, which uses a rotary dial in the center console for the controls. There's also a huge range of customization, including optional Sport, Luxury, and Performance packages and 13 available exterior colors. The Quadrifoglio ups the performance ante with a 2.9-liter twin-turbo V6 boasting 505 hp and 443 lb-ft of torque, which rockets the sedan to 60 mph in 3.8 seconds. To maximize efficiency, the engine has stop-start and cylinder deactivation. Customers who want a little more can order optional carbon fiber shell Sparco seats, which Alfa claims are the lightest in the segment, and carbon-ceramic Brembo brakes.