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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.

The List #0100: Drive the Italian Alps

The List travels to northern Italy to experience driving the Italian Alps. For this grand drive, we need a proper grand touring sports car. The Maserati Quattroporte fits the bill, with four doors, space for luggage, and all-wheel drive for those snowy mountain passes. But first our hosts make a quick stop at the Museo Casa Enzo Ferrari in Modena to take in an exhibit celebrating 100 years of Maserati. "The scenery is unbelievable," says host Patrick McIntyre. "If you're going to come all the way to Italy, rent a car and drive through [the Alps]." Join Jessi and Patrick as the check 'drive the Italian Alps' off of their list. Have an RSS feed? Click here to add The List Click here to subscribe to The List in iTunes Click here to learn more about our hosts, Jessi and Patrick

Maserati GranTurismo Folgore design and key specifications revealed

The next-generation Maserati GranTurismo will spawn an electric, Folgore-badged variant with over 1,200 horsepower. While the coupe hasn't been fully unveiled yet, the Italian company published a video that shows it without camouflage and reveals key specifications. Shot on California's picturesque roads, the five-minute film provides a better look at the second-generation GranTurismo's shapely design. It's characterized by a long hood, a fastback-like roof line, and a relatively short trunk, while its front end borrows a handful of styling cues inaugurated by the MC20 and also seen on the Grecale. The model is instantly recognizable as a member of the Maserati portfolio. We already know that the first series-produced electric Maserati will ship with a three-motor drivetrain rated at about 1,200 horsepower. Design boss Klaus Busse (who is behind the wheel in the video) announced that the GranTurismo Folgore takes 2.6 seconds to reach 60 mph from a stop and reaches a top speed of over 200 mph. He added that the battery pack is housed in the transmission tunnel, a solution which allowed his team to give the car a relatively low profile, but details such as the unit's size and the driving range remain under wraps. Not interested in EVs? Maserati has you covered: it will position the Folgore at the top of the GranTurismo range but it will also offer at least one V6-powered version of the car. We're guessing that the engine will be related to the excellent 3.0-liter Nettuno V6 that powers the MC20. Maserati will release more details about the GranTurismo Folgore in the coming months, and the coupe's unveiling is scheduled for 2023. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Maserati Coupe Electric Luxury Performance