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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.

2018 Jeep Compass Trailhawk Drivers' Notes Review | Trying to find its way

The Jeep Compass Trailhawk is the smaller sibling to the Cherokee off-roader. They look a lot alike, and generally that seems to be a good thing. We spent some time with it, both in Michigan and the Pacific Northwest. It seemed like the perfect little ute to tackle rain and late snow, as well as the cratered roads surrounding Detroit every spring. Here's what we thought after spending some quality time together: Editor-in-Chief Greg Migliore: The Jeep Compass is one of the coolest compact crossovers you can buy. Jeep has struggled to translate its genetics into smaller models, but they come through in this one. The Trailhawk trim provides plenty of capability. Even if you don't need it on a daily basis, the package adds design flourishes like red tow hooks and a two-tone black roof, which look slick. Our test model's olive green paint also puts off a heritage vibe. I like that. It's subtle, like wearing a watch with a NATO band. The interior looks and feels premium, with leather seats, a leather-trimmed steering wheel and ambient lighting. Uconnect remains one of my favorite infotainment systems on the market, and its simplicity is an industry benchmark. The inline four-cylinder and nine-speed automatic transmission work well together. In fact, the smooth shifting surprises me, as I've had issues with this gearbox in other Fiat Chrysler vehicles. Overall, I would consider the Compass among the better options for car shoppers. It stands out in a segment that's fairly vanilla, though the less flashy but well-executed Honda CR-V and Toyota RAV4 are formidable. I wouldn't get the Trailhawk trim on a Compass, but it's smart of Jeep to push this kind of off-road capability thoughout its lineup. Associate Editor Joel Stocksdale: I've recently spent some time in the refreshed Jeep Cherokee, which I found to be a decent crossover, if not class-leading, and it had a distinctly truck-like feel, unlike its competitors. The Compass Trailhawk is just the same, except at about 2/3 scale. The truck-like feel is what really stood out. The seating position is very tall, giving you a good view forward and of the corners of the Compass. Combined with the small size, it makes it very easy to maneuver around town, and likely on tight trails. The ride on this Trailhawk model is a bit stiff over small bumps, but it does soak up the large ones fairly well. This suspension and the raised ride height also make the Compass seem a little tipsy.

Tesla Cybertruck is here, Jeep Renegade is gone | Autoblog Podcast #810

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Electric, John Beltz Snyder. They start the show by talking about the new cars they'd buy for $24,000 if it were 1995. In the news, Tesla delivered the first production Cybertrucks, the Jeep Renegade has been discontinued for 2024, we've received specs and pricing for the Fiat 500e, the Chevy Bolt's return is confirmed for 2025 and Honda's gona show some future EVs at CES. For reviews, our hosts have been driving the Toyota bZ4X, Kia EV9 and Audi SQ5 Sportback. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #810 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Here's $24,000. Buy something new in 1995 Tesla Cybertruck price, specs, features finally revealed — plus, Cyberbeast 2024 Fiat 500e U.S. specs and pricing revealed Chevy Bolt second generation confirmed for 2025 debut Honda will show its new global EV lineup at CES Cars we're driving: 2023 Toyota bZ4X 2024 Kia EV9 2024 Audi SQ5 Sportback Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Audi Chevrolet Fiat Honda Jeep Kia Tesla Toyota