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Fiat Chrysler's Q3 profit boosted by strong North American earnings

MILAN, Italy — Fiat Chrysler Automobiles (FCA) reported a 17 percent jump in third-quarter adjusted operating profit on Tuesday, helped by a strong performance in its key North American market and improving operations in Europe and Latin America. The world's seventh-largest carmaker still makes the lion's share of its profits in North America, so improving, or at least maintaining, its margins there is a key focus. The carmaker reported an 8 percent adjusted operating profit margin in the region, up from 7.6 percent a year ago, despite a drop in sales and shipments. "FCA's profitability in North America remained strong in the quarter despite a weakening market there," a Milan-based analyst said. FCA's profitability compares with an 8.3 percent North America margin reached in the quarter by bigger U.S. rival GM , showing CEO Sergio Marchionne making progress towards his goal of closing the margin gap with GM and the company's other U.S. rival, Ford, by 2018. The company's confirmation of its full-year outlook also pushed shares higher, a trader added. The stock was up 2.8 percent by 1129 GMT, outperforming a 1 percent rise in the European auto index. FCA has been retooling some U.S. factories to boost output of sport-utility vehicles (SUVs) and trucks while ending production of some unprofitable sedans to strengthen profitability as the U.S. car market comes off its peak. The company said a drop in North America shipments due to lower fleet sales and discontinued models was partially offset by higher deliveries of Ram trucks and two models from the Alfa Romeo stable: the Stelvio sport utility vehicle and Giulia sedan. Profitability also improved in Europe, helped by sales of the Stelvio and the new Jeep Compass, and Latin America, while margins at Maserati remained strong at 13.8 percent due to strong demand for its first SUV, the Levante. In a later conference call, investors are looking for hints on the new strategy to 2022 which the company promised to unveil early next year. Chief Executive Sergio Marchionne said earlier this year that FCA would streamline its portfolio and that components businesses, including Magneti Marelli, would be separated from the group, possibly via a spin-off. While FCA confirmed its targets this year, doubts remain about its exposure to a weakening U.S. market, recall costs and potential fines over emissions after it was targeted by European and U.S.

Behind the scenes of our subcompact crossover comparison

The cameras had been set up for almost an hour, and now, the living room filled with the sweetness of freshly brewed blonde roast. The late-summer sun had just started peaking over towering maples. In a week the colors will start changing, the inevitable sign of the coming gray skies and snow. Half past eight, the editors arrived. The Scandinavian inspired house that served as the headquarters for our subcompact crossover comparison couldn’t accommodate all seven of us, so they had stayed at a turn of the century farmhouse down the road. While geese, chickens, cats and sheep made for an authentic Northern Michigan farm experience, ingredients for a good nightÂ’s sleep they were not. Within minutes Red Bulls cracked open and short, cocoa-colored mugs appeared, filled with a variety of caffeinated beverages.  “I thought we were gonna have fried eggs,” Editor-in-Chief Greg Migliore said, smiling, before refusing a muffin. Associate Producer Alex Malburg ran from camera to camera, adjusting focus and exposure, trying to keep up with the ever-changing light, which poured into the room faster each minute.  “I was promised food. IÂ’m not filming.” Consumer Editor Jeremy KorzeniewskiÂ’s sarcasm thinly veiled his true feelings. To keep the group content I promised a craft-services buffet next time.  For the second time, we shot our comparison just outside of Traverse City. While we took advantage of a local off-road park for the first, this round proved a bit more tame, utilizing the hilly, winding, wine-country roads that define the region.  An air of nervousness could be detected. Only one person knew the outcome of our test, Senior Green Editor John Beltz Snyder. I found myself both impressed and surprised he had kept this secret overnight, though I came to find out later that he revealed the winner to Producer Amr Sayour on the drive to dinner the evening before.  The cameras started rolling, the audio recording, but the caffeine hadnÂ’t yet entered the bloodstream, with one exception. Associate Editor Joel Stocksdale sipped his lime green Mountain Dew. That seemed to be working, as he passionately laid out his argument for the Kia Soul and his preference for winter tires over all-wheel drive. From behind the camera I silently disagreed with him. “No one buys winter tires,” Jeremy argued. As we consumed more coffee, the sun came up, and so did the energy of the debate.

CES 2021, Jeep Grand Cherokee L, and driving the Ford Mustang Mach-E and F-150 PHEV | Autoblog Podcast #660

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick. They talk about driving Ford's Mustang Mach-E and F-150 plug-in hybrid, as well as the Ram TRX and Genesis GV80. They recap CES 2021, as well as the enormous display screens featured in new cars at the show. They also discuss the reveal of the new three-row Jeep Grand Cherokee L. Lastly, they reach into the mailbag to talk about vehicle comfort. Autoblog Podcast #660 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving2021 Ford Mustang Mach-E Premium AWD 2021 Ford F-150 Platinum PHEV 2021 Ram 1500 TRX 2021 Genesis GV80 Other news CES 2021 2021 Jeep Grand Cherokee L Mailbag Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: