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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.

FCA inline-six rumored to be real, headed for Jeep Wagoneer

In September, Allpar reported that that clues being dropped at Fiat- Chrysler headquarters, in the carmaker's factories, and on engineer resumes pointed to the development of an inline six-cylinder engine. The site has just proclaimed the rumor is reality, writing that the straight-six, "turbocharged to meet or beat 5.7 Hemi power ratings, with a smoother torque curve, is on the way." The motor's first outing is expected to be either the next-generation Jeep Grand Cherokee, debuting perhaps next year, or the Jeep Wagoneer, debuting in 2020 or 2021. "Tornado" is the purported codename for the power plant said to be just under three liters in displacement, expanding the family begun with the Global Medium Engine 2.0-liter turbo codenamed Hurricane. Engine bay constraints and a long use horizon mean engineers won't simply add two more cylinders to the GME, however. Allpar says the brief is to keep the Tornado GME-T6 — the alphanumeric for "turbocharged six" — no more than three inches longer than the Tigershark 2.4-liter four-cylinder. That means "major design changes" that could include a space-saving head, more closely spaced cylinders, and no cylinder liners. An FCA division called Comau could be called on for its "SmartSpray" plasma lining technology. Allpar muses that the standard version of the engine for Chrysler, Dodge, Jeep, and Ram could get a single twin-scroll turbocharger. Performance trims for Alfa Romeo and Maserati could get different heads and maybe twin turbos, an SRT version might also get both those tweaks. History shows that the Italian versions would make changes to the block, as well. Even so, the Tornado would be less expensive than any Ferrari-supplied V6. A straight-six would put FCA in company with current adopters BMW and Mercedes-Benz, future users like Jaguar, and perhaps Aston Martin. The engine would span the widest range of use cases in the U.S. carmaker's portfolio, though. Potential applications include being a base engine for Ram trucks, serving double duty as a base engine and 5.7-liter Hemi replacement for the Dodge Charger and Challenger, working in the high-end Jeeps, and as a properly hot trim — with Ferrari-designed heads — in the luxury Italian sports cars. The Alfa Romeo Giulia begs for just such motivation to fill the gap between the 280-hp, $42,695 Ti Sport RWD and the 505-hp, $73,700 Giulia Quadrifoglio RWD. And a twin-turbo inline-six in a Maserati Alfieri would stack up nicely with the Germans.

New Alfa Romeo supercar teaser mentions '6 weeks' and '792 hours'

Alfa Romeo got on Instagram again to tease the coming supercar that will debut on August 30. The image is a bit funky, and so is the caption. The picture shows the steering wheel, shot from underneath. The hub center is the first unusual bit, being a monochrome Alfa Romeo logo. The Italian brand's steering wheels usually feature a full-color logo except in the Quadrifoglio trims that bear a black and silver design. Vintage Alfas like the GT Junior models of the 1960s and 1970s were known for silver logos. They were also known for drilled steering wheel spokes, which might be featured in the teaser as well. No current Alfas we know of use metal-looking steering wheels spokes, and none contain what look like dials set into the bottom spoke. Even the limited-edition Giulia GTAm that started at about $225,000 in Europe took the Giulia's regular wheel and replaced plastic with carbon fiber for the lower spoke. Then there's the caption, "792hours and less than #6weeks left to ignite your spirit with #AlfaRomeo. Witness history unfold on August 30th, as #Courage and passion #Converge to give birth to a visionary #Creation. Save the date!"           View this post on Instagram                       A post shared by Alfa Romeo (@alfaromeoofficial) That's an oddball number of hours for a countdown timer. The guess is that this is a reference to the horsepower figure engineers coaxed from the twin-turbo 3.0-liter Nettuno V6 poached from the Maserati MC20. In the MC20, the engine produces 621 horsepower. Rumors out of Europe have said the Maserati mill is going to share the Alfa Romeo's engine bay with at least one electric motor and make about 800 horsepower — close enough to 792 not to quibble over. Since that would be a metric horsepower rating, converting PS to U.S. HP gives 781 hp, a tidy 160 horses more than the MC20 and totally achievable with a single flux capacitor. Unless the Italians are taking a MacGuffin from Hitchcock's playbook, six weeks away could foreshadow the 6C name instead of the 33 name that's worked its way into the conversation. The livestreamed debut from the Alfa Romeo museum in Arese, Italy is a month away. Related Video Alfa Romeo Salutes Women Race Car Drivers