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Fiat Chrysler's profit boosted by Ram and Jeep in North America

MILAN/DETROIT — Fiat Chrysler took the market by surprise by sticking to its full-year profit guidance on Wednesday after a strong performance from its Ram pickup truck in North America helped it defy an industry slowdown. Chief Executive Mike Manley, in FCA's first earnings release since a failed attempt to merge with France's Renault, also left the door open to that or other deals. "We are open to opportunity," Manley said on a call with analysts. "I have no doubt why there still would be interest in it," he added, when pressed on what it would take to revive talks with Renault. Manley declined to comment further. FCA last month abandoned its $35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world's third-biggest automaker. Manley said a merger was not a must-have and Fiat Chrysler's business plan was strong. The company said it remained confident its adjusted earnings before interest and tax (EBIT) would top last year's 6.7 billion euros ($7.5 billion). Given disappointing forecasts from other automakers this earnings season, FCA's confirmation of the outlook sent Milan-listed shares in the Italian-American automaker, whose other brands include Jeep, up over 4%. A broad-based auto sales downturn has rattled the sector, forcing FCA's competitors — including Renault, Daimler and Aston Martin — to cut their sales forecasts after second-quarter results, while U.S. carmaker Ford gave a weaker-than-expected 2019 profit outlook. Japan's Nissan, a long-term partner of Renault, said it would cut 12,500 jobs by 2023 after its earnings collapsed. In the second quarter FCA's adjusted EBIT totaled 1.52 billion euros, versus analysts' expectations of 1.43 billion euros, according to a Reuters poll. FCA's U.S. shipments were down 12% in the second quarter but the group said that the successful performance of its Ram brand resulted in an enhanced share of the large pickup truck market of 27.9%, up 7 percentage points from last year. Adjusted EBIT margin in North America rose to 8.9% from 6.5% in the first quarter, thanks to strong demand for the heavy-duty Ram and the new Jeep Gladiator pickup. Chief Financial Officer Richard Palmer also said FCA expected to report up to 10% margins in the region in both the third and fourth quarters.

Marchionne wants Maserati to be FCA's new Ferrari

Fiat Chrysler Automobiles is gearing up to spin Ferrari, its most profitable brand, off into another company, and float its stock on the open market. That means it's going to need another profit-driver to generate income for the rest of the group. And according to its chief executive Sergio Marchionne, that mantle will soon be picked up by Maserati. FCA is betting big on Maserati, which has long stood as a niche marque with a limited array of models and low sales numbers. In addition to the recently introduced Ghibli and Quattroporte sedans – now crucially offered with diesels and all-wheel drive – Maserati is preparing to roll out the Levante crossover that promises to do for the Modenese marque what the Cayenne did for Porsche. Due in part to the success of its first crossover, Porsche turned itself from a niche sports car manufacturer into an immensely profitable automaker that was (nearly) capable of buying out the entire Volkswagen Group. Maserati's resurgence is part of a two-pronged assault FCA is plotting against its German rivals. Maserati will be charged with taking on the higher end of the Mercedes, BMW, and Audi ranges (from the E-Class, 5 Series and A6 upwards). Meanwhile, Alfa Romeo will go after the lower end of the luxury spectrum with the new Giulia (aimed at the C-Class, 3 Series and A4) and other models to follow. FCA aims to turn Maserati and Alfa Romeo (along with Jeep) into global brands, broadening the narrow geographical appeal they have held until now. In order to generate enough profit to support the rest of the group as Ferrari has, Maserati will need to find a way to increase its profit margins. Bloomberg reports that Ferraris command a 13-percent profit margin, and while the ten percent that Maseratis list for is still triple that of the FCA average, slow sales are forcing some dealers to offer deep incentives that cut significantly into that margin. Related Video:

2024 Maserati GranTurismo PrimaSerie 75th Anniversary edition revealed

Maserati revealed the new GranTurismo’s interior earlier this week — but wait, thereÂ’s more. Just shown is a special launch edition of the GranTurismo that goes by PrimaSerie. If you recall the MC20 CieloÂ’s reveal, that model was also launched with a PrimaSerie special edition model. This GranTurismo follows the trend, but in a slightly different package. To celebrate 75 years of Maserati, this modelÂ’s full, official name is the PrimaSerie 75th Anniversary. In keeping with the “75” theme, Maserati plans on building four sets of 75 matching cars — each of the four sets has its own, unique appearance. That means there will be a total of 300 GranTurismo PrimaSerie models. Pictured here are the two Trofeo models — powered by MaseratiÂ’s Nettuno V6 engine — that will be available. The gray car is technically Grigio Lamiera Matte, and the black car is finished in a paint Maserati calls Nero Scarabeo Matte. If you opt for the Grigio Lamiera PrimaSerie, itÂ’s paired with Corse Red accents on the logos, scripts, air vents, wheels and interior stitching. The 75th anniversary logo can be seen on the wheels, and if you look inside, itÂ’ll be on the headrests, too. Go for the matte black option, and this one is paired with Mint Green accents all over the exterior and interior. Despite the paint color of the cars being rather subtle shades, all the colorful accents on these special editions make them not-so-subtle. Not pictured yet are the Folgore PrimaSerie options. Maserati says the two special editions for the electric GranTurismo will be painted in either Rame (a copper-like color) or Blu Inchiostro (blue). Pricing isnÂ’t out for these PrimaSerie models, but Maserati allows you to express interest for the Trofeo models on its website. Opting for one of the launch editions would make you one of the first owners of the redesigned GranTurismo when it comes out. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2024 Maserati GranTurismo Folgore revealed