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North America profit helps Fiat Chrysler limit its losses from coronavirus

MILAN — Italian-American automaker Fiat Chrysler Automobiles (FCA) posted a smaller-than-expected operating loss in the second quarter, as a small profit in North America helped to limit the damage wrought by the COVID-19 pandemic. FCA said on Friday it had an adjusted loss before interest and tax of 928 million euros ($1.1 billion) in April-June, versus a forecast 1.87 billion euro ($2.2 billion) loss in an analyst poll compiled by Reuters. The group also said it made adjusted earnings before interest and tax of 39 million euros ($46.2 million) in North America, the home market of its Jeep and Ram brands, in the quarter. Milan-listed FCA shares were up 1.2% at 1125 GMT, after being little changed before the results. Chief Executive Mike Manley said the group's plants were up and running and car dealers were selling in showrooms and online, following disruptions caused by the pandemic. "We have the flexibility and financial strength to push ahead with our plans," he said in a statement. FCA, which is set to tie-up with Peugeot maker PSA to create Stellantis, the world's fourth largest carmaker, said on ongoing probe launched by European Commission competition authorities was not expected to delay the merger timetable. Despite the pandemic, PSA earlier this week delivered a profit in the first half of the year and stuck to its medium-term margin goal. FCA said its industrial free cash flow was minus 4.9 billion euros in the second quarter, with a slightly lower cash burn compared with January-March.  

2016 Fiat 124 Spider to debut this year

Those enthused by the prospect of a nimble little convertible but not enamored with the styling of the latest Mazda MX-5 Miata (shown above) have been eagerly awaiting the arrival of the Fiat version. And now we know it's going to break cover later this year. According to Edmunds, which spoke with the Fiat brand's North American chief, Jason Stoicevich, the Fiat 124 Spider will debut later this year either at the Frankfurt Motor Show in September or the LA Auto Show in December. It is expected to begin reaching dealers in 2016. Fiat has yet to confirm whether it'll offer the 124 in North America, but the chances are looking good. "There is a ton of heritage behind that," Stoicevich told Edmunds. "I think that just kind of puts the bow on the showroom for us and fills it out completely." The roadster would bolster a Fiat US lineup that's made up of versions of the 500: the original hatchback, open-roof 500C, electric-powered 500e, and 500L and 500X crossovers. Fiat offers other models overseas, but is said to be preparing a change in direction even in Europe, aligning its portfolio in two pillars built around the 500 and the Panda. Though the 124 will be based on the MX-5's platform and be built alongside it in Japan, the Italian brand will give the convertible its own bodywork and styling. The Italian version of the MX-5 was originally earmarked to wear an Alfa Romeo badge, but Fiat brass decided that Alfas needed to be developed in-house and built in Italy. The decision was then made to give the Fiat brand the convertible instead, though details on what form it will take and what engines will be offered remain a mystery. Related Video: Featured Gallery 2016 Mazda MX-5 Miata Club View 30 Photos News Source: EdmundsImage Credit: Mazda LA Auto Show Frankfurt Motor Show Fiat Convertible 2015 LA Auto Show fiat 124 spider fiat 124

NHTSA, IIHS, and 20 automakers to make auto braking standard by 2022

The National Highway Traffic Safety Administration, the Insurance Institute for Highway Safety and virtually every automaker in the US domestic market have announced a pact to make automatic emergency braking standard by 2022. Here's the full rundown of companies involved: BMW, Fiat Chrysler Automobiles, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volkswagen, and Volvo (not to mention the brands that fall under each automaker's respective umbrella). Like we reported yesterday, AEB will be as ubiquitous in the future as traction and stability control are today. But the thing to note here is that this is not a governmental mandate. It's truly an agreement between automakers and the government, a fact that NHTSA claims will lead to widespread adoption three years sooner than a formal rule. That fact in itself should prevent up to 28,000 crashes and 12,000 injuries. The agreement will come into effect in two waves. For the majority of vehicles on the road – those with gross vehicle weights below 8,500 pounds – AEB will need to be standard equipment by September 1, 2022. Vehicles between 8,501 and 10,000 pounds will have an extra three years to offer AEB. "It's an exciting time for vehicle safety. By proactively making emergency braking systems standard equipment on their vehicles, these 20 automakers will help prevent thousands of crashes and save lives," said Secretary of Transportation Anthony Foxx said in an official statement. "It's a win for safety and a win for consumers." Read on for the official press release from NHTSA. Related Video: U.S. DOT and IIHS announce historic commitment of 20 automakers to make automatic emergency braking standard on new vehicles McLEAN, Va. – The U.S. Department of Transportation's National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety announced today a historic commitment by 20 automakers representing more than 99 percent of the U.S. auto market to make automatic emergency braking a standard feature on virtually all new cars no later than NHTSA's 2022 reporting year, which begins Sept 1, 2022. Automakers making the commitment are Audi, BMW, FCA US LLC, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Maserati, Mazda, Mercedes-Benz, Mitsubishi Motors, Nissan, Porsche, Subaru, Tesla Motors Inc., Toyota, Volkswagen and Volvo Car USA.