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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.

Argentinians find stash of never-registered, brand-new 30-year-old Italian cars

While much of the world is sheltering in place, several new, never-registered Italian and French cars exited a 27-year confinement in Argentina. They were left for dead in an abandoned dealership that sold Alfa Romeo, Fiat, and Peugeot models in a city named Avellaneda near Buenos Aires, the country's capital. Details surrounding the dealership are murky. Argentina's Autoblog (no relation to us) reported it closed at some point during the 1990s after the owner and his son died in violent circumstances. Automotive archaeology tells your author it likely shut its doors in 1993, because that's the only year in which the first-generation Fiat Ducato launched in 1981 and the post-facelift Fiat Tipo, axed in 1995, overlapped. Both are clearly visible in the photos. What's certain is that someone finally inherited the property in 2020 and wanted the cars gone as quickly as possible in order to sell it. The anonymous owner asked Kaskote Calcos, a local body shop that also runs a used-car lot, to haul them away via Instagram. We're guessing the firm didn't need to be asked twice.           View this post on Instagram                       A post shared by Axel By Kaskote (@kaskotecalcos) on Mar 24, 2020 at 1:57pm PDT Many of the cars hidden in the dealership were made by Fiat; the photos show several examples of the Tipo, an Uno, a Tempra, and the aforementioned Ducato. An Alfa Romeo 33 wagon and a Peugeot 405 were also stashed in the trove. Most were stored indoors so they weren't damaged by sunlight or humidity, and images of the cars taken after they were pressure-washed confirm they're in like-new condition inside and out. We're told some even started, though for the love of valves and pistons we hope they got a new timing belt before being fired up.  Kaskote Calcos hasn't revealed what it will do with the cars. None are particularly sought-after, they're economy cars that were mass-produced and mass-destroyed, and their current values reflect that. You can get a post-facelift Uno for the price of a few Peroni pints in Italy. The fact that they're new, never-registered examples will undoubtedly increase their appeal, even if registering them could require slashing through jungles of red tape. As a side note, finding a 405 beached in a Fiat dealership isn't as random as it might sound.

Alfa Romeo 4C production to continue until at least late 2020

Maserati will end production of the GranTurismo and the GranCabrio in November 2019, and it will retool the historic Modena, Italy, factory that makes both models in preparation for a new sports car due out in 2020. But Autoblog learned production of the Alfa Romeo 4C made in the same facility will continue even after the retooling, debunking rumors of the model's immediate demise. "Production of the 4C will continue in the same production plant/line until late 2020 for the NAFTA and APAC regions," an Alfa Romeo spokesperson told us via email. The factory will close during the retooling, so "there will just be some weeks of technical interruption" during the process, according to the same spokesperson. Production will resume as soon as the overhaul is completed, and Alfa's carbon fiber-intensive two-seater will be built alongside Maserati's next sports car. North American enthusiasts still have time to put a new 4C in their garage. Available only as a convertible, the 4C recently entered the 2020 model year with a limited-edition model named Italia that gains an array of visual add-ons, like piano black trim on the front end. Just 15 Italias will be built, but the standard 4C remains available as a regular-production model. It's powered by a mid-mounted, 1.75-liter four-cylinder engine turbocharged to 237 horsepower and 258 pound-feet of torque. The engine's displacement wasn't chosen at random; Alfisti will know right off the bat that it echoes the 1750 engine Alfa offered in the late 1960s and the early 1970s. European enthusiasts aren't as lucky. Autoblog also confirmed an earlier report claiming 4C production for the European, Middle Eastern, and African markets ended in August 2018. While the GranTurismo will be replaced by a new model in 2021, what the future holds for the 4C is up in the air. Alfa Romeo's product plan doesn't currently include a second-generation 4C, which is too bad. It's one of the purest, most undiluted sports car on the market; may it live long. Featured Gallery 2020 Alfa Romeo 4C Spider Italia Auto News Alfa Romeo Convertible