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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.

78k Chrysler 200 sedans recalled for stalling

Chrysler has been at the top of our list of recalls lately, and is showing little sign of dropping down. The latest campaign announced from Auburn Hills affects nearly 80,000 units over a problem that could see the vehicle suddenly stall or shift into neutral unexpectedly. According to the automaker's statement below, the issue primarily affects the 2015 Chrysler 200. However it indicates that unspecified "additional vehicles are also included in the campaign." Of the 77,834 units affected by the recall, the vast majority – nearly 70k – are in the United States. Another 7,115 are located in Canada, 848 in Mexico, and another 19 outside of North America. The problem stems from some electrical connectors that may have been damaged by the supplier during post-production validation tests. FCA stresses, however, that it is "unaware of any related injuries or accidents" resulting from this issue, and that the glitch may or may not be "accompanied by a dashboard warning-light illumination." Airbag function is reportedly unaffected. Related Video: Statement: Electrical Connectors August 14, 2015 , Auburn Hills, Mich. - FCA US LLC is conducting a voluntary safety recall to correct a condition in an estimated 77,834 U.S.-market sedans that may lead to engine stall or gearshift to neutral. The Company is unaware of any related injuries or accidents. The condition, which may be accompanied by a dashboard warning-light illumination, does not affect air-bag function. An investigation by FCA US revealed some electrical connectors were damaged when the supplier conducted post-production validation tests. Affected are certain 2015 Chrysler 200 midsize sedans. Additional vehicles also are included in campaign. Of these, approximately 7,115 are in Canada; 848 are in Mexico; and 19 are outside the NAFTA region Affected customers will be advised when they may schedule service, which will be performed free of charge. Customers with questions or concerns may call the FCA US Customer Care Center at 1-800-853-1403.

Chrysler 300 soldiers on for 2021 with pared-down range, higher price

Chrysler's last remaining sedan, the 300, will enter the 2021 model year with fewer trim levels and a higher price, according to a recent report. The 2021 model will be the second-generation 300's 10th year on the American market. Well-informed website CarsDirect received a dealer ordering guide, which reportedly confirms the Limited and 300C trims levels will not return for 2021. They're the two most expensive trims offered for 2020, and the publication added that removing them will likely mean upscale features like wood interior trim, Nappa leather upholstery, and quilted seats will no longer be available. It concluded the 2021 300 lineup will consist solely of the Touring and the 300S models, though it oddly made no mention of the Touring L. It doesn't sound like Chrysler will make any major visual or mechanical changes to the 300 — sorry, Hellcat fans. Available with rear- or all-wheel drive, the entry-level Touring model will be powered by the company's venerable 3.6-liter V6 tuned to make 292 horsepower and 260 pound-feet of torque. Marketed as a sportier sedan, the rear-wheel drive-only 300S will come standard with a 300-horse version of the V6, but buyers who want more power will be able to order a 5.7-liter Hemi V8 rated at 363 horsepower and 394 pound-feet of torque at extra cost. Pricing for the 2021 300 Touring will start at $31,940 including a $1,495 destination charge, a $405 increase over the 2020 model. Stepping up to the 300S will require spending $38,980, but the cost of the optional V8 will increase from $3,000 to $4,000, bringing its price to $42,890 once the aforementioned destination charge enters the equation. Keep in mind none of these figures are official, and Chrysler hasn't commented on the report. Most of the carmakers operating under the Fiat-Chrysler Automobiles (FCA) umbrella will announce the changes they're making for 2021 on September 1 — that's next Tuesday, so we won't have to wait long to find out what's in store for the 300. Chrysler has kept its lips sealed about what's next. Rumors claiming the sedan wouldn't live to see 2020 were evidently false, yet it can't remain in production for another decade. Sales fell by 37% to 29,213 units in 2019. Chrysler can either develop a third-generation model that will likely need to represent it in the sedan segment through the 2020s, or it can hike the path blazed by many of its rivals and throw in the towel.