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FCA close to paying off debt, outperforming Ford in earnings

FCA boosting output of SUVs, trucks in U.S. Marchionne says the company no longer needs a merger partner FCA expects to pay off all debt this year "There's a very strong likelihood that we will outperform Ford" MILAN/DETROIT — Fiat Chrysler's shift to sell more trucks and SUVs boosted margins yet again in its North American profit center, making Chief Executive Sergio Marchionne confident he can hit most of the final targets of his five-year turnaround plan. FCA has been retooling some U.S. factories to boost output of lucrative sport-utility vehicles and trucks while ending production of some unprofitable sedans. This put the world's seventh-largest carmaker on track to become debt-free by the end of the year, and allowed Marchionne to make good on his promise to close the gap on larger U.S. rivals General Motors (GM) and Ford. "There's a very strong likelihood that we will outperform Ford in terms of operating earnings in 2018," Marchionne told analysts on an earnings call Thursday. "That's something that if I told any of us in the room here that would've been doable five years ago, nobody would have believed it." As the 65-year-old executive prepares to hand over the reins to an internal successor next year, he said the improvements mean the company no longer needed a partner to survive. The carmaker has often been the subject of merger speculation, especially after its unsuccessful 2015 attempt to tie up with GM. "The necessity to find a partner, to try and guarantee our survival, going forward, is put to bed. I mean we're done," Marchionne told analysts on a post-results conference call. North America accounted for 71 percent of earnings last quarter, and profit margins in the region rose to 8 percent from 7.1 percent a year earlier, even as shipments fell 3 percent. Meanwhile Ford's automotive margin for North America slipped to 6.8 percent, down from 8.5 percent a year earlier.FCA trimmed its expectations for 2018 revenues and forecast adjusted operating profit of at least 8.7 billion euros, at the lower end of a previously given range. Analysts said FCA's margin improvement was impressive, and it could be on the cusp of a big boost from its new Jeep Wrangler and Jeep Cherokee models and its Ram 1500 truck. FCA ready to pay off its debt But the Italian-American carmaker expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros in net cash by the end of the year.

Editors' Picks March 2021 | Ford Mustang Mach-E, Polestar 2, Land Rover Defender and more

The month of March was unofficial minivan month here at Autoblog. We drove all of them but the Kia Carnival, but don’t worry, you wonÂ’t have to wait much longer to read that review. Among all the family-toting machines, we drove some more exciting vehicles including the Land Rover Defender and a pair of up-and-coming EVs. It was a month of excellent cars, meaning that this monthÂ’s litter of EditorsÂ’ Picks is stacked. In case you missed FebruaryÂ’s picks, hereÂ’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary or stand out in their respective segments get EditorsÂ’ Pick status. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in March that earned the honor of being an EditorsÂ’ Pick. 2021 Ford Bronco Sport 2021 Ford Bronco Sport First Edition View 32 Photos Quick take: Ford's baby Bronco is an authentic foil to the big Bronco 2-Door and 4-Door. It brings rugged styling, better-than-average off-road capability and thoughtful utility features to a generic segment of cars. Score: 8 What it competes with: Jeep Compass, Jeep Cherokee, Mazda CX-30, Subaru Crosstrek, Kia Seltos, Chevrolet Trailblazer Pros: Stellar design, excellent off-road, clever interior details throughout Cons: Pricier than most, average transmission, underwhelming interior quality and ambiance in lowest trims From the editors: Road Test Editor Zac Palmer — “I genuinely enjoy driving this cute crossover. It feels like a mini truck on the road, and Ford admirably translated the design from its big Bronco over to this Escape-based crossover. News Editor Joel Stocksdale — "The Bronco Sport isn't perfect, the transmission could use some work, and it's a little bumpy, but it's a characterful little thing with loads of style, great visibility and space, and impressive capabilities on and off road in the powerful Badlands form." In-depth analysis: 2021 Ford Bronco Sport Review | Bronco for the masses   2021 Land Rover Defender 2021 Land Rover Defender 110 View 64 Photos Quick take: The Land Rover Defender provides everything you'd hope for in a modern Land Rover: superlative off-road capability, surprisingly plush on-road demeanor, abundant interior space and abundant character. The base four-cylinder is likely all you'll need and lower trim levels provide more than enough equipment.

Ford’s Onboard Scales and Smart Hitch win the 2022 Autoblog Technology of the Year award

The 2022 Autoblog Technology of the Year award goes to Ford for the Onboard Scales and Smart Hitch hauling and towing features found in the F-150 lineup. This new technology, as tested in the 2022 Ford F-150 Lightning, is a boon to pickup truck owners. Not only will it make observing your truck’s maximum loads easier and more intuitive, but it will also ensure youÂ’re hauling and towing in the safest-possible manner. We began the process with a long list of features to test and whittle down. Technologies like MercedesÂ’ new electric turbocharger, GMÂ’s Super Cruise with added towing capability and many more went through the consideration process, but we finally whittled the field down to just three finalists. They are: the GMC Hummer EV with its flashy CrabWalk four-wheel-steer technology, the Genesis GV60 with its facial recognition/fingerprint start technology, and of course FordÂ’s trucking gear. As is the norm for our Technology of the Year award, three main questions are asked, and editors assign point values based on how well the technologies perform in testing. How significant is this tech? How well does it work? And new for this year: Consider the Wow Factor. With the scores tallied, the Ford tech earned 123 points, topping the Hummer (117 points) and GV60 (108). This is the second straight win for Ford, which won the 2021 TOY Award with its Pro Power Onboard charging feature.  Ford joins Tesla (2014, 2016) as the only two-time winner of our Tech of the Year Award, which dates to 2013. Kia, Cadillac, Tesla, BMW, Chevy, Chrysler and Audi technologies are among the previous winners. 2022 Technology of the Year testing View 16 Photos While systems that tow and haul may not seem to be the latest or most sophisticated tech, they remain essential and Ford uses things like the infotainment system, taillights and the Ford mobile app to create a forward-looking experience Henry Ford would never have dreamed of when the first Model Ts were outfitted with beds for farm and war duty in 1917. Even 10 years ago, integrating tech in this manner would have seemed futuristic, but Ford pulls it off. “FordÂ’s clever towing and hauling features earned our award this year because they are easy to use, easy to understand and simply make your life as a truck owner better,” Autoblog Editor-in-Chief Greg Migliore said. “It was a competitive field this year, with HummerÂ’s CrabWalk and GenesisÂ’s Biometrics features both winning strong support.