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Fiat Chrysler's Q3 profit boosted by strong North American earnings

MILAN, Italy — Fiat Chrysler Automobiles (FCA) reported a 17 percent jump in third-quarter adjusted operating profit on Tuesday, helped by a strong performance in its key North American market and improving operations in Europe and Latin America. The world's seventh-largest carmaker still makes the lion's share of its profits in North America, so improving, or at least maintaining, its margins there is a key focus. The carmaker reported an 8 percent adjusted operating profit margin in the region, up from 7.6 percent a year ago, despite a drop in sales and shipments. "FCA's profitability in North America remained strong in the quarter despite a weakening market there," a Milan-based analyst said. FCA's profitability compares with an 8.3 percent North America margin reached in the quarter by bigger U.S. rival GM , showing CEO Sergio Marchionne making progress towards his goal of closing the margin gap with GM and the company's other U.S. rival, Ford, by 2018. The company's confirmation of its full-year outlook also pushed shares higher, a trader added. The stock was up 2.8 percent by 1129 GMT, outperforming a 1 percent rise in the European auto index. FCA has been retooling some U.S. factories to boost output of sport-utility vehicles (SUVs) and trucks while ending production of some unprofitable sedans to strengthen profitability as the U.S. car market comes off its peak. The company said a drop in North America shipments due to lower fleet sales and discontinued models was partially offset by higher deliveries of Ram trucks and two models from the Alfa Romeo stable: the Stelvio sport utility vehicle and Giulia sedan. Profitability also improved in Europe, helped by sales of the Stelvio and the new Jeep Compass, and Latin America, while margins at Maserati remained strong at 13.8 percent due to strong demand for its first SUV, the Levante. In a later conference call, investors are looking for hints on the new strategy to 2022 which the company promised to unveil early next year. Chief Executive Sergio Marchionne said earlier this year that FCA would streamline its portfolio and that components businesses, including Magneti Marelli, would be separated from the group, possibly via a spin-off. While FCA confirmed its targets this year, doubts remain about its exposure to a weakening U.S. market, recall costs and potential fines over emissions after it was targeted by European and U.S.

The 2016 Alfa Romeo 4C should sound even better

We love the raw simplicity of the Alfa Romeo 4C – it is first and foremost a driver's car, and a great one at that. So while there are a number of updates for the 2016 model year, none of them mess with the 4C's inherent enthusiast-centric nature. In fact, these enhancements should only, well, enhance the overall driving experience. The thing we're most excited about is a new Akrapovic dual-mode titanium exhaust. Not only does this option relocate the exhaust tips to the center of the 4C's rump, it uses asymmetrical mufflers and a link pipe with a built-in resonator to create what we assume is an even better exhaust sound. The Akrapovic setup works with the Alfa's DNA drive select modes – in Dynamic and Race, things are loud and resonant, but in Natural and All-Weather settings, there's a quieter tone. Other 4C updates are less obvious. There's some more carbon fiber trim both inside and out, some new color combinations for the leather sport seats, and the Spider's premium audio system and lockable storage containers are now standard on the Coupe. Pricing isn't confirmed in Alfa's release, but from what we find on the company's consumer site, the Coupe starts at $55,900 and the Spider comes in at $65,900. Based on the 2015 models we tested, that means the added content has bumped up the Coupe's price by $2,000, and the Spider sees a modest $405 hike. Read all the details in the press blast below. ALFA ROMEO 4C AND 4C SPIDER ADD MORE PERSONALIZATION OPTIONS FOR 2016 New for 2016, Alfa Romeo is offering even more carbon fiber: - All-new carbon fiber halo offering elevates the 4C Spider's technical look, while hinting at its exclusive carbon-fiber monocoque chassis - All-new Carbon Fiber Trim Package further proliferates 4C and 4C Spider's use of carbon fiber on interior vents, instrument cluster surround and instrument panel and shift bezels - Bespoke Italian style: A new premium leather interior with Tobacco and Black sport seats paired with a Black leather interior with Tobacco accent stitching is now available - All-new Akrapovi?

Alfa Romeo returns to F1 as Sauber title sponsor

LONDON - Alfa Romeo will become title sponsor of the Sauber Formula One team next season as part of a multi-year technical and commercial partnership, both sides announced on Wednesday. "This agreement with the Sauber F1 Team is a significant step in the reshaping of the Alfa Romeo brand, which will return to Formula One after an absence of more than 30 years," Fiat Chrysler chief executive Sergio Marchionne said in a statement. Sauber announced in a statement of their own that the team will officially be known as the Alfa Romeo Sauber F1 Team from 2018 onwards. "Working closely with a car manufacturer is a great opportunity for the Sauber Group to further develop its technology and engineering projects," Sauber Holding AG chairman Pascal Picci said. "We are confident that together we can bring the Alfa Romeo Sauber F1 Team great success, and look forward to a long and successful partnership."Reporting by Alan Baldwin.Related Video: Image Credit: REUTERS/Ueslei Marcelino Motorsports Alfa Romeo Racing Vehicles F1 Sergio Marchionne FCA