2014 Fiat 500l Trekking 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.

Stellantis expects to hit emissions target without Tesla's help

Franco-Italian carmaker Stellantis expects to achieve its European carbon dioxide (CO2) emissions targets this year without environmental credits bought from Tesla, its CEO said in an interview published on Tuesday. Stellantis was formed through the merger of France's PSA and Italy's FCA, which spent about 2 billion euros ($2.40 billion) to buy European and U.S. CO2 credits from electric vehicle maker Tesla over the 2019-2021 period. "With the electrical technology that PSA brought to Stellantis, we will autonomously meet carbon dioxide emission regulations as early as this year," Stellantis boss Carlos Tavares said in the interview with French weekly Le Point. "Thus, we will not need to call on European CO2 credits and FCA will no longer have to pool with Tesla or anyone." California-based Tesla earns credits for exceeding emissions and fuel economy standards and sells them to other automakers that fall short. European regulations require all car manufacturers to reduce CO2 emissions for private vehicles to an average of 95 grams per kilometer this year. A Stellantis spokesman said the company is in discussions with Tesla about the financial implications of the decision to stop the pooling agreement. "As a result of the combination of Groupe PSA and FCA, Stellantis will be in a position to achieve CO2 targets in Europe for 2021 without open passenger car pooling arrangements with other automakers," he added. Tesla's sales of environmental credits to rival automakers helped it to announce slightly better than expected first-quarter revenue this week. The next tightening of European regulations will soon be the subject of proposals from the European Commission. The 2030 target could be lowered to less than 43 grams/km. Related Video: Government/Legal Green Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM Tesla Citroen Peugeot Emissions Stellantis

2020 Fiat 500X Sport Design Driveway Test

The Fiat 500X received a big update for 2019 with a new 1.3-liter turbocharged engine. As such, it's no surprise the 2020 Fiat 500X only sees minor updates, but one of them is rather striking, the introduction of the Sport trim level. However, it's only an appearance change, so it doesn't drive any better than the base model. The changes are impressively effective at evoking sportiness, though. All of the fender flares and side skirts are changed to body color, giving the car a lower, wider look. This is aided by the revised front and rear bumpers. At the front, the bumper gets larger grilles, and at the rear is a faux diffuser and vent design instead of a faux skid plate finish. Adding a bit of contrast are satin grey metallic accents on the front bumper, door handles and mirrors. The same color is applied to the large 19-inch alloy wheels. The look is smart and sporty all around, and really helps distinguish the 500X in a sea of tiny crossovers cosplaying as more rugged SUVs. Our particular example also came with the optional contrasting black roof. It's $445 and seems worth it, particularly with one of the bright gloss colors such as our Rovente Red — Italia Blue or Bianco Gelato are also acceptable alternatives. It highlights those bright colors effectively and adds some visual interest to the package. Fiat also added some interior touches to complement the sporty character. The Alcantara-trimmed steering wheel and Alcantara wrappings on the instrument cluster are both immediately noticeable. And, with how common Alcantara has become in high-end sports cars, these are effective at conveying a sporty feeling, as do the paddle shifters that the package also adds. The dashboard's satin gray paint is another highlight that matches the exterior accents. While body color panels would be brighter and more cheerful, this satin paint feels more premium than gloss paint when running your hands across it. The embroidered 500 logo in the seats is another premium-feeling accent. These are appreciated in a cabin where there are less prominent plastics that feel especially low rent. Now, the Sport trim is easily our favorite looking version of the 500X, but there's an added cost for the improved looks. It's $2,305 above the base trim, not including the two-tone paint, and it really only nets you the appearance items and the shift paddles.