1 Of 1 Challenger Srt-8 Pennzoil Edition 392 Hemi on 2040-cars

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Fiat Chrysler profit up as it closes in on retiring its debt

MILAN — Fiat Chrysler Automobiles reduced its debt by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. Chief Executive Sergio Marchionne expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros ($5 billion) in net cash by the end of the year. Marchionne has said that forecast does not include any one-off measures, nor the impact of the planned spinoff of parts maker Magneti Marelli, which he hopes to execute by early 2019. The world's seventh-largest carmaker said on Thursday net debt had fallen to 1.3 billion euros ($1.6 billion) by the end of March, well below a consensus forecast of 2.6 billion euros in a Thomson Reuters poll of analysts. FCA said capital spending fell 900 million euros in the quarter due to "program timing," which analysts said implied higher investments for the rest of the year. The Italian-American group said first-quarter operating profit rose 5 percent to 1.61 billion euros, below a consensus forecast of 1.74 billion, as a weaker performance from its North American profit center weighed. Shipments there were higher due to the new Jeep Wrangler and Compass models. But currency moves hit revenues and earnings, and costs related to new product launches added to the pressure. FCA's shift to sell more trucks and SUVs boosted margins yet again in North America to 7.4 percent from 7.3 percent in the same quarter a year ago, although they were down from the 8 percent recorded in the preceding three months. Marchionne, preparing to hand over to an internal successor next year, is close to his goal of ending a margin gap with larger U.S. rivals General Motors and Ford. The 65-year-old has said becoming debt free and being able to compete on a par with U.S. peers would mean FCA no longer needed a partner to survive and could well succeed on its own. The CEO has previously said tying up with another carmaker would help to meet the huge costs in an industry investing in electric vehicles and automated driving. FCA shares fell immediately after the results, but recovered to trade up 3 percent at 19.71 euros by 1150 GMT, outperforming a 0.4 percent rise in Europe's blue-chip stock index. ($1 = 0.8214 euros) Reporting by Agnieszka FlakRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Chrysler recalling over 280k minivans because airbags may deploy on wrong side

Chrysler has issued a recall for some 2013 Town & Country, Dodge Grand Caravan and Ram C/V Tradesman vans built between May 10, 2012 and June 7, 2013. These vehicles may have a software error that would cause the wrong side (opposite side) airbags to deploy in a crash. With this defect, a left-side impact would cause the right-side airbag to deploy, etc.
The recall affects 281,500 vehicles in total: 224k in the US, 49,300 in Canada, 2,900 in Mexico and 5,300 in other locations. Chrysler will notify owners of effected vehicles, and reflash the offending occupant restraint control module to resolve the issue. Scroll down to read the National Highway Traffic Safety Administration press release.

2020 Dodge Charger pricing starts at $31,390

We've been talking about the 2020 Dodge Charger for three months, and it's finally time to start doing the math on trade-in values and loan payments. The 2020 Charger lineup starts with the SXT in rear-wheel-drive trim priced at $29,895, plus a $1,495 destination charge for a total of $31,390. That's a $425 bump over the 2019 model. The rest of the range doesn't get a price bump higher than $250 save for the Hellcat Widebody. The 2019 Charger didn't offer Widebody variants, so those are new for 2020. The lineup with MSRP changes from 2019: Charger GT RWD $33,390 ($150 more than 2019) Charger SXT AWD $35,090 ($25 more) Charger R/T $37,890 ($150 more) Charger Scat Pack $41,490 ($250 less) Charger Scat Pack Widebody $47,490 (brand new model) Charger SRT Hellcat Widebody $71,140 ($2,150 more than 2019 non-widebody) Daytona 50th Anniversary Edition $75,635 (brand new model) There's a price differential of $44,245 from bottom to top. Even more relevant to the Charger faithful, there's a displacement and power differential from the 3.6-liter Pentastar V6 in the SXT with 292 horsepower and 260 pound-feet of torque to the 6.2-liter supercharged Hemi V8 in the Charger Hellcat Widebody Daytona 50th Anniversary Edition with 717 hp and 650 lb-ft of torque. Dodge plumps the Scat Pack in the middle as having the "most horsepower per dollar," with its 392-cubic-inch Hemi V8 pumping 485 hp and 475 lb-ft. In the amusement park business, this is what's called "Fun for everyone." The Scat Pack Widebody makes a break from its standard sibling with stiffer springs, larger sway bars, and shocks, and retuned dampers. Changes throughout the rest of the lineup save for the SXT center on new wheel and tire options, and an updated Performance Handling Group on the GT and R/T trims. The 2020 Charger order book opens in the fall, but America's family-friendly muscle car won't start hitting dealer lots until early 2020.