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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.

Consumer Reports says these are the worst new cars of 2014

Consumer Reports has announced its annual list of worst vehicles, a cringe-inducing contrast to its list of top vehicles. Ignominiously leading the way in 2014 is Chrysler, which has a staggering seven models listed.
Jeep nearly sweeps the small SUV segment by itself, with its Compass, Patriot and 2.4-liter version of the new Cherokee, while the only midsize sedans listed by CR were the Chrysler 200 and Dodge Avenger. The new Dodge Dart and the Dodge Journey round out CR's condemnation of Chrysler.
Ford is taking heat as well, with the Taurus, Edge and their counterparts from Lincoln all listed as the worst vehicles in their respective segments. Toyota doesn't fare much better, with its Lexus IS, Scion iQ and tC also making the list.

2020 Dodge Challenger Drag Pak will debut at SEMA

Mopar fans have countless reasons to get hyped about the 2019 SEMA show. Speedkore is bringing a twin-turbocharged, all-wheel-drive Dodge Charger Hellcat Widebody, Mopar is bringing a done-up 1968 Dodge D200 "Lowliner," Ram is bringing a diesel 1500 overlander, and Jeep is bringing a custom off-road Wrangler. But the launch of the new 2020 Dodge Challenger Drag Pak might garner the most attention from the brand's most serious customers. Prior to the show, Mopar teased a photo and a short video clip, both showing a new Dodge Challenger from the overhead view. The white Challenger showed a wide blue stripe down the center of the car with two pinstripes along each side. "Powered by SRT" runs across the top of the windshield, and Mopar logos grace both sides of the car just beneath the side windows. Red decals run back from the rear quarter panels and connect across the rear of the car. It also has hood pins on the SRT Hellcat hood and a parachute attached the rear. There's a parachute because this is the factory turnkey drag-race-focused Dodge Challenger racecar. Mopar released no other information on what type of hardware the Drag Pak will be using, or what's under the hood, but the video gives a great preview of the exhaust note in full tire-smoke mode. As some Drag Paks in the past have dropped roughly 1,000 pounds from their production starter vehicles, the 2020 model will surely utilize plenty of weight-savings methods such as the removal of all interior comfort features that don't apply on the racetrack. Mopar has also previously altered the position of the engine and changed the wheelbase to the benefit of better weight distribution. Mopar is set to livestream the unveiling starting at 7:26 p.m. ET (that's 4:26 on the West Coast, which not coincidentally coincides the the displacement of the vintage 426 Hemi engine) on Nov. 5, 2019. Until then, check out the 2009, 2010, 2011, or 2016 Drag Paks.