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FCA's profit rises ahead of Peugeot merger

MILAN — Fiat Chrysler (FCA) posted a 7% rise in fourth-quarter profit on Thursday, boosted by strong business in North America and better results in Latin America as it heads into a merger with France's PSA. The Italian-American carmaker said adjusted earnings before interest and tax (EBIT) rose to 2.12 billion euros ($2.3 billion), in line with a 2.11 billion forecast in Reuters poll of analysts. That left its adjusted operating profit for the year at 6.67 billion euros ($7.34 billion), just shy of its target of over 6.7 billion euros. Its adjusted EBITDA margin came in at 6.2%, in line with its target of more than 6.1%. A trader said Fiat Chrysler results were "a touch above" expectations and the carmaker's shares in Milan were up 3.4% at 1300 GMT following the results. Fiat Chrysler and Peugeot maker PSA agreed in December to combine forces in a $50 billion deal to create the world's No. 4 carmaker, in response to slower global demand and the mounting cost of making cleaner cars amid tighter emissions rules. Chief Executive Mike Manley said last month that talks with PSA were progressing well and that he hoped to complete the deal by early 2021. FCA reiterated its plan to boost adjusted EBIT to above 7 billion euros ($7.7 billion) this year. In slides prepared for an analyst call, FCA said it was monitoring the global impact of coronavirus in China. FCA operates in the country through a loss-making joint venture with Guangzhou Automobile Group (GAC) and has a 0.35% share of the Chinese passenger car market. Reporting by Giulio Piovaccari; Additional reporting by Danilo Masoni; Editing by Stephen Jewkes, Jason Neely and David Clarke. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

With contract expiration days away, UAW targets GM first for negotiations

The United Auto Workers union on Tuesday said that it would target General Motors as the first of the Detroit automakers for talks ahead of the current four-year contract's expiration on Sept. 14. This year's contract talks between the union and GM, Ford and Fiat Chrysler Automobiles NV are expected to be contentious as U.S. new vehicle sales are slowing and automakers face rising costs associated with the development of electric vehicles and self-driving cars. Rising healthcare costs, job security, profit sharing and the use of temporary workers are expected to be major sticking points. GM in particular has been a target of union ire since announcing the closure of five North American plants late last year. That move drew a wave of criticism, including from U.S. President Donald Trump. Trump has repeatedly prodded GM and last week said the No. 1 U.S. automaker should begin moving its operations in China back to the United States. "We are prepared and we are all ready to stand up for our members, our communities and our manufacturing future," UAW President Gary Jones said in a statement. In a statement, GM said, "We look forward to having constructive discussions with the UAW on reaching an agreement that builds a strong future for our employees and our business." The contracts come at a difficult time for the UAW, as a federal corruption investigation into the union continues to grow. Last week, the FBI conducted searches at Jones' home, a union retreat and multiple other locations, including the home of the union's previous president, Dennis Williams. To date, seven people linked to the union and the automaker have been sentenced in the government's corruption investigation. Reporting by Nick Carey.

Dodge Demon's deliverer? FCA files for 'Angel' trademark

We've driven the Dodge Demon, and despite its satanic overtones and 840 freakin' horsepower under the hood, the car is actually quite well-behaved. At least it didn't bite our head off or drag us into any sort of inferno. Still, Dodge might be looking to balance its lineup with something with a bit more righteous, as FCA has filed for a trademark of the moniker "Angel."... According to the United States Patent and Trademark Office, FCA filed the application on July 17, 2017, and it applies to "Motor vehicles, namely, passenger automobiles, their structural parts, trim and badges." Essentially, that's all the information we have to go on at this point. It could mean that Dodge is planning to further capitalize on the Demon name by creating another variant, or a completely different car. But what's the opposite of the Demon? Could it be a more road-friendly version of the drag-focused Demon? (And wouldn't that just be a Hellcat Widebody with more power?) Maybe it's a performance hybrid, as FCA CEO Sergio Marchionne recently said that the automaker would electrify half its fleet by 2022. For now, we can merely speculate as to what the Angel would be. And you can, too. Get at it in the comments section, below. And while you're at it, what name do you think FCA should trademark next, and what sort of car would that be?Related Video: Related Gallery 2018 Dodge Challenger SRT Demon: First Drive View 37 Photos News Source: US Patent and Trademark Office via FCA Authority Auto News Chrysler Dodge Future Vehicles Performance FCA trademark dodge demon