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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.

Carmakers ask Trump to revisit fuel efficiency rules

Car companies operating in the US are required to meet stringent fuel efficiency standards (a fleet average of 54.5MPG) through 2025, but they're hoping to loosen things now that President Trump is in town. Leaders from Fiat Chrysler, Ford, GM, Honda, Hyundai, Nissan, Toyota and VW have sent a letter to Trump asking him to rethink the Obama administration's choice to lock in efficiency guidelines for the next several years. The car makers want to revisit the midterm review for the 2025 commitment in hopes of loosening the demands. They claim that the tougher requirements raise costs, don't match public buying habits and will supposedly put "as many a million" jobs up in the air. The Trump administration hasn't specifically responded to the letter, although Environmental Protection Agency nominee Scott Pruitt had said he would return to the Obama-era decision. The automakers' argument doesn't entirely hold up. While the EPA did estimate that the US would fall short of efficiency goals due to a shift toward SUVs and trucks, the job claims are questionable. Why would making more fuel efficient vehicles necessarily cost jobs instead of pushing companies to do better? As it is, even a successful attempt to loosen guidelines may only have a limited effect. All of the brands mentioned here are pushing for greater mainstream adoption of electric vehicles within the next few years -- they may meet the Obama administration's expectations just by shifting more drivers away from gas power. This article by Jon Fingas originally appeared on Engadget, your guide to this connected life. Related Video: News Source: ReutersImage Credit: Daniel Acker/Bloomberg via Getty Images Government/Legal Green Chrysler Fiat GM Honda Hyundai Nissan Toyota Volkswagen Fuel Efficiency CAFE standards Trump

2017 Chrysler Pacifica Hybrid starts at $43,090, or just over $35,000 with a tax credit

Chrysler has announced pricing for its 2017 Pacifica Hybrid plug-in minivan, and with the federal tax credit, it's priced similarly to mid-range vans. The Hybrid Premium starts at $43,990, or $35,590 after the credit, and the Hybrid Platinum starts at $46,090, or $38,590 with the credit. In Chrysler's line-up, these are close in cost to the Touring L and Touring L Plus Pacifica models, as well as mid-level trims on competitors' minivans. The big difference being that the Pacifica Hybrid provides up to 30 miles of electric range on a full charge and an 80 MPGe rating in the city. The Pacifica Hybrid is equipped similarly to the mid-range Pacificas. The Premium trim comes standard with leather seats all around, seat heaters for the front, remote start with pre-conditioning, three-zone automatic climate control, active noise cancellation, 7.3 inch color display in the instrument panel, and the SafetyTec package. This package includes features such as rear park assist and blind-spot monitoring. The Platinum trim adds Nappa leather and front ventilated seats, a heated two-tone steering wheel, 13-speaker sound system, Uconnect Theater rear entertainment, and a programmable key for young drivers (or sketchy-looking valets). At a potential price of just over $35,000, the Pacifica Hybrid is an appealing package, since it's a plug-in hybrid with usable range and loads of space. However, this is the case as long as the tax credit holds out. Once the credit is no longer available, the Pacifica Hybrid will top the line for pricing. At that point, its value proposition will have to be weighed more heavily against its green cred and driving dynamics. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.