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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.

2018 Dodge Durango Pursuit SUV is the tall arm of the law

Dodge is adding to its police car portfolio with the 2018 Durango Pursuit, a specially-prepped police version of the automaker's SUV. Available with an optional 360-horsepower Hemi engine, the Durango Pursuit comes with everything you'd expect in a truck built to protect and serve. We'll try to avoid too many Blues Brothers cop car references but, yes, this Dodge includes some serious "cop shocks" and that aforementioned "cop engine," among many other modifications. The Hemi engine produces 360 horsepower and 390 lb. ft. of torque, all of which is routed to an eight-speed automatic transmission and full-time AWD system. According to Dodge, this is the most popular powertrain fitted to the existing Charger Pursuit police car. The brakes have been strengthened and are capable of bringing the Durango Pursuit from 60-0 mph in 134 feet. The Durango Pursuit also adds a two-speed transfer case, which should prove handy when bad guys try to escape by venturing off road. "Unofficial testing results at the Michigan State Police 2018 model-year vehicle evaluation event created such a stir among law enforcement agencies that we simply had to find a way to build this vehicle," said Steve Beahm, Head of Passenger Car Brands, Dodge/SRT, FCA North America. Despite the apparent buzz around this police vehicle, Dodge has said the Durango Pursuit V-8 AWD will only be available "for a limited time." And as you've already guessed, you have to be in law enforcement to place an order for one — sorry to disappoint. Other notable features of the Durango Pursuit include 8.1 inches of ground clearance, a tow rating of 7,200 pounds, heavy-duty oil cooler and water pump, 220-amp alternator, a spare tire mounted beneath the rear of the truck to free interior space, a spotlight wiring prep package, along with trailer sway control. Dog lovers will be pleased that K-9 units have been taken into consideration, too. The Durango Pursuit is available with a tri-zone climate control package, to make certain badge-wearing four-legged constables remain comfortable while fighting crime. Related Video: Dodge SUV Police/Emergency police car

Dodge Charger Widebody is rumored on its way for 2020

Grab all the salt you have, save the amount you need for your recommended daily allowance. Mopar Insider reports its sources as having confirmed Dodge will unveil a Charger Widebody for the 2020 model year, in SRT Hellcat and R/T Scat Pack trims. Such a move would copy the trim and aesthetic formula used — to excellent affect — on the Dodge Challenger. The Charger widebodies would get also get unique suspension tuning, and the same 305/35 ZR 20 Pirellis as on the Challenger widebodies, but wrapped around unique, dual-five-spoke designs that are 11 inches wide. There has been talk of a widebody Charger for at least two years, many of those conversations carried out in the same way sleuths parse grainy photos of monsters. In April 2017, Instagram user gtpprix caught a standard Dodge Charger wearing Challenger widebody wheels, spaced so that the rubber extended beyond the fenders. A month later, a YouTube account in the name of Sinister Life caught the same car on video. The license plate doesn't appear to be from Michigan, which is where almost all Dodge prototypes get licensed. On the other hand, early spy shots of Challenger widebody prototypes from 2016 featured this same setup — a normal version with protruding tires. The SRT CEO at the time, Tim Kuniskis, joked about testing the Challenger widebody openly, knowing everyone would think it was a prototype Demon. According to Mopar Insider, engines and outputs won't change on the Charger widebody versions. That means sticking with the 485-horsepower, 6.4-liter V8 in the R/T Scat Pack, and the 717-hp, 6.2-liter V8 in the Charger Hellcat. Looks would change, however, with new front and rear fascias to differentiate the model and cohere with the new lines. That includes a new dual-snorkel hood grille and repositioned intakes, plus tweaked side sills. If it's really on the way, we should know this summer. Such a model would also support recent comments from Steve Beahm, head of Dodge, Fiat, and Chrysler brands, when Automobile asked about how the company will maintain any momentum in difficult days for sedans. Beahm said, "[Our] our job was to [ask,] 'How do we differentiate within the brands that are going to remain passenger-car brands?' ... What we do is we try to make our vehicles look different." Related Video: