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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.

FCA applies to trademark 'Hornet' and 'Dodge Hornet' names

FCA's trademark binge on March 6 isn't the only time this month that the automaker's appealed to the U.S. Patent and Trademark Office. Motor Trend discovered two applications FCA submitted on March 3, one for "Dodge Hornet," the other simply for "Hornet." The automaker requested to reserve both names in Canada and Mexico, too. The only time Dodge has ever used the Hornet name was on a chunky, four-door subcompact hatchback revealed at the 2006 Geneva Motor Show, planned for the European market with a 170-horsepower engine developed with BMW. Crowds loved the car, encouraging Chrysler to find a way to put it into production. What followed was three years of aborted platform-swapping efforts first with Chinese automaker Chery and then with Nissan before Chrysler gave up. In 2009, analysts suspected new owner Fiat might try to get a Hornet done on one of the Italian automaker's European platforms. Nothing came of that, either, FCA opting to resurrect another historical nameplate for the Dodge Dart sedan in 2011. If a new Dodge model gets the Hornet label, the best guess for a product that needs to succeed in North America is a crossover. With the Grand Caravan soon headed to pasture and the Journey expected to follow soon after, the brand will be left with a big sedan, a big coupe, and a big three-row crossover. A reborn Hornet could pick up where the concept left off, slotting into the compact space left by the outgoing Journey and where models like the Nitro and Caliber once lived. Another guess posits something a little larger, based off the Chrysler Pacifica platform, to lower development costs and increase utilization at the Windsor, Ontario, plant that builds the Pacifica and Grand Caravan. Or the Hornet could be a PSA Group model reworked into service for our market; that opens up the size choices, although PSA is moving all of its products to two platforms, both front-wheel-drive based. It's possible Dodge won't do anything with the name, the recent application nothing more than an attempt to reserve company property. Hudson reserved Hornet in 1950 for a sedan built from 1951 to 1954. After Hudson merged with Nash to form AMC, AMC used the name on a compact sedan built from 1969 to 1977. Chrysler took over AMC in 1987, letting the Hornet trademark expire in 1992.

Dodge Viper returning to Le Mans this year?

If you were among the fans disappointed by Chrysler's recent decision to end the Dodge Viper's racing program, we may have some good news for you, as the racing outfit behind the campaign is reportedly working to bring the American supercars back to Le Mans this year. That racing outfit is Riley Technologies, a constructor perhaps best known for its Daytona Prototypes, but it has also prepared its share of GT racers, too. Chrysler charged Riley with leading its racing program for the new Viper GTS-R, campaigned it in the United SportsCar Championship and the 24 Hours of Le Mans. Auburn Hills made the unfortunate decision back in March to pull its Vipers out of Le Mans, and then in October to withdraw from the US series, as well, thereby effectively ending the program altogether. Disappointed though it surely was, Riley remains defiant. The North Carolina-based company is planning on taking the existing Vipers back to Le Mans on its own, with or without factory support. The Viper has, after all, proven a capable machine, having taken both the drivers' and teams' titles in the United SportsCar Championship this past season. "With Le Mans, every driver and every manufacturer needs to have their first trip there, and it isn't always what you want it to be, but we did show reliability and did have some pace," Bill Riley told Racer.com. "Since then, we've worked hard on the cars, they're now strong, front-running cars in the US, and we're working with the ACO on the BoP to make sure the cars are strong at Le Mans. They're super-reliable and fast, and we'd expect to be right in the mix with the other cars." Riley has kept the existing support staff in place, and once it secures its driver lineup and sponsors, chances look good that it could represent America well at Le Mans this year in either the GTE Pro or GTE Am class. Its predecessor did, after all, complete a three-year winning streak that saw it dominate the GTS class right up until its withdrawal in 2000. News Source: Racer.comImage Credit: FCA Motorsports Dodge Coupe Racing Vehicles