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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.

Chrysler Portal Concept introduces millennials to their automotive future at CES

"Created by millennials for millennials." That's how Chrysler describes its new Portal Concept, a fully electric minivan that's set to debut later today at CES in Las Vegas. Reading between the lines, apparently that means millennials want a one-box van with lots of glass and LED lighting elements... and that FCA is talking to the same millennials as Mercedes did back in 2015. From the few early images of the vehicle released ahead of its official debut, Chrysler's electric van looks like it could have come straight off a Syd Mead drawing. The Portal Concept rides on a 118.2-inch wheelbase, which makes it a little smaller than the Pacifica. There's just enough reality in its design that we can't completely dismiss its viability as an actual vehicle, but all of its disparate design ideas make the Portal look like an overwrought vision of a future that will probably never happen. That said, we'll reserve final judgment until we see it in person at CES. The Portal Concept gets intriguing once its massive double-sliding doors open up. There's a minimalist dash with a long, slender LCD at the top and another, more conventional touchscreen right in the center. Apparently, the screens can be repositioned as needed. There are 10 docking stations inside to charge and hold smartphones or tablets. FCA worked with Panasonic to develop the Portal's user experience, and the automaker hints that the supplier could become a long-term partner. Chrysler calls the interior of its Portal Concept a "third space," the other two being home and work. All the seats mount to rails that allow them to move fore and aft, fold flat, or be removed completely. The flat floor sits above a lithium ion battery pack rated at 100 kWh. That's enough capacity to allow a driving range of more than 250 miles. A 350-kW fast charger can replenish the pack to allow a 150-mile range in less than 20 minutes. A single electric motor powers the front wheels. As befitting a vehicle unveiled at CES, Chrysler says the Portal is capable of SAE Level Three autonomous driving, which means the occupants can turn driving duties over to the vehicle under certain conditions on the highway. As self-driving technology advances, Chrysler says the Portal could be upgraded. Facial recognition and voice biometric technologies allow the Portal to recognize individual users so it can tailor the driving environment to their needs and wishes.

Junkyard Gem: 1965 Plymouth Belvedere Race Car

I've found the occasional retired race car during my junkyard travels, but most of them have been fairly modern machines. Today's Junkyard Gem is a different sort of racing remnant: an ancient dirt-track beast that probably last saw service more than 40 years ago, found in a Denver-area yard last summer. It's really just a gutted shell that sat outdoors for decades after its final competition, but you can still catch glimpses of its past here and there among the rust spots and peeling paint. The rear quarters clearly identify it as a 1965 Plymouth B-Body two-door sedan. The 1965 B-Body Plymouths were sold as three models: the upscale Satellite, the mid-level Belvedere II, and the El Cheapo Belvedere I. The shadow of a Belvedere badge on the fender found inside the car indicates that at least the fender came from a Belvedere I (the way race cars — especially those that compete on dirt — whack into each other, we can assume this is the 19th fender affiliated with this car). Belvedere fenders were easy to find in junkyards until about 40 years ago, and the faded sponsor stickers indicate that this car last raced around that time. You can still buy new "Turbo Action" valve bodies for Chrysler automatic transmissions, by the way. Likewise, CRC 5-56 lubricant still exists. The "OZONE SAFE" label on the can suggests that this sticker is of late-1970s-to-early-1980s origin. The roll cage is old-school for sure, particularly the lack of door bars. The Denver area once had many race tracks, including Overland Park and Englewood Speedway (both very close to this Plymouth's final parking space), but they had closed long before the 1980s. Lakeside Speedway was in business  until 1988 (and still stands today, sort of) but that dirt oval hosted mostly midget races during its final 30 years of operation. Perhaps Colorado Springs International Speedway, which closed in 1985, was this car's final race venue. There's one sponsor that suggests an origin far from the Mountain Time Zone. I can't make out the company name (other than what might be a snippet including "oluce"), but it appears to be an institutional food business in Houma, Lousiana. It's possible this car was bought in Louisiana and brought to Front Range Colorado, where it rusted away in a yard or field. There's not much left, but it's one of the many types of automotive history I like to document in this series.