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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.

MotorWeek finds nice things to say about the 1993 Ford Probe

This latest in MotorWeek's series of Retro Reviews continues its recent trend of remembering the massive glut of sports coupes that hit the market in the '90s. While vehicles like the Mitsubishi 3000GT, Mazda RX-7, and Ford Mustang all enjoy solid reputations down to this day, the 1993 Ford Probe, well... doesn't. As you'll soon see, though, the show's opinion suggests the coupe's second generation isn't really all that bad. Turns out they just weren't particularly sporty. Ford and Mazda developed the Probe together, and the Japanese company supplied both the base 115-horsepower 2.0-liter four-cylinder and the 164-hp 2.5-liter V6 in the GT trim. The original's pseudo-angular look gave way to a much smoother shape for the second generation. Of course, pop-up headlights remained, which were a design hallmark for many of this era's sports coupes. After driving it, MotorWeek proclaims the Probe is "a winner" and considers the handling a "delight." That's not a big surprise, considering that in those days, a car had to be really bad not to get a decent review from Television's Original Automotive Magazine. However, the show hints at some of the reasons the coupe isn't so well remembered today. Even the GT reportedly suffers from soft springs and lots of understeer, which sounds like exactly the opposite anyone hoping to drive the coupe enthusiastically would want. To sum it all up, we're sure you're just as happy as we are that Ford went back on its initial plan to shelve the Mustang in favor of the front-drive Probe. Related Video:

Ford offering factory-spec EcoBoost reflashes that don't void warranty*

Buy a supercharger or cold-air kit from Ford Racing and a Performance Calibration handset comes with it to reset the ECU for the upgrade. Now Ford Racing is offering the ProCal handset a la carte for $595, allowing you to reflash the ECU on your EcoBoost-equipped ride to extract more of its inherent capabilities without any additional upgrades. It gives you control of variables such as throttle response, idle speed and turbo wastegate control, among others. As for that warranty asterisk, the press release says enthusiasts can up the power "while maintaining the Ford-backed limited warranty." However Ford Motor Co. and Ford Racing are separate entities, and, best we can tell, when you reflash the ECU, your Ford warranty gets supplanted by the Ford Racing warranty. Say you bought a 2014 Ford, that means your five-year, 60,000-mile warranty becomes Ford Racing's three-year, 36,000-mile warranty, if we're reading the fine print correctly. If you have an older car and have driven more than 36,000 miles, then your warranty options are kaput, at least as far as a Ford in-house option. If have warranty concerns, you might also want to consider having a dealer perform the reflash, or at least ask about it. Once you've got past the small print, what about the numbers? At the moment Ford Racing offers tunes for the 2.0-liter EcoBoost in the Focus ST and the 1.6-liter EcoBoost in the Fiesta ST, and we're told there's a 90-pound-foot boost in torque at the crank after you've pressed the right buttons. Anecdotal evidence from a commenter at Road & Track says he went from 252 horsepower at the flywheel to 254 hp at the wheels, and 272 lb-ft at the flywheel to 354 lb-ft at the wheels, but we can't be sure that his adjustments were within Ford Racing specs. Your mileage, naturally, may vary. What about custom numbers for the 2.3-liter EcoBoost in the 2015 Ford Mustang? They aren't ready yet, but we're told we'll get something by the end of next year. Featured Gallery 2015 Ford Focus ST News Source: Ford, Ford Racing via Car and Driver Aftermarket Ford Technology ecoboost ford focus st ford fiesta st ford racing