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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.

Maserati preparing electric Quattroporte for 2028

Maserati's range will look a lot different in 2030 than it did in 2020. The brand has already confirmed that the Quattroporte and the Levante will both be replaced by electric models, and it told us when we'll see both models while shedding light on the other cars in the pipeline. The final Quattroporte rolled off the Turin, Italy, assembly line in December 2023. The smaller Ghibli and Maserati's V8 engine died at that time as well, and they're not coming back. Instead, the brand will remain without a sedan in its lineup until 2028, when it plans to release an electric follow-up to the Quattroporte. It's too early to provide concrete details about the model, but Maserati released one interesting tidbit of information: While the EV will carry the historic Quattroporte nameplate into the 2030s, it will be closer to the Ghibli in terms of size. When it lands, the next Quattroporte will join a battery-powered SUV described as an E-segment model that sounds a lot like the Levante's electric replacement. Production of the Levante continues, even without a V8 option, and we don't know when the big SUV will retire yet. As of writing, it sounds like both models will be only offered with an electric drivetrain. Until then, Maserati will continue to offer gasoline- and battery-powered versions of the cars in its range. We've seen and driven the GranTurismo Folgore, and the coupe will spawn a convertible called GranCabrio later in 2024 that will also be available with either a 3.0-liter twin-turbocharged V6 or three electric motors. Even the MC20 supercar will be offered with electric power: The Folgore model previewed in 2020 will reach production by the end of 2025. Note that these EVs won't replace the gasoline-burning variants: "We're going to let buyers decide [whether they prefer the V6 or the EV]," Maserati told me. Maserati stresses that all of these electric models will be designed, developed, and manufactured in Italy. It notably invested a significant amount of money into modernizing the research and development center it operates deep within its decades-old headquarters in Modena. Related video:

2014 Maserati Quattroporte to get twin-turbo V6

As we wait for the Detroit Auto Show to get our up-close and in-depth look at the redesigned 2014 Maserati Quattroporte, some details are just starting to emerge about the car's powertrain, but nothing is official just yet. Autocar has posted a first drive of the new Quattroporte, finally spilling the beans about what motivates this sporty and luxurious sedan.
We already knew that the 2014 Quattroporte will offer two engines - a V6 and V8 - but what we didn't know is that both engines will get a pair of turbochargers and direct injection. Previously, we speculated that the smaller V6 would be supercharged, but this 3.0-liter V6 will get turbos instead helping it produce an estimated 410 horsepower. As for the larger 3.8-liter V8, this engine is said to produce 530 horsepower (confirming our previous report) to go with 479 pound-feet of torque; performance specs for the V8 include a top speed of 191 miles per hour and a 0-60 mph time of well under five seconds.
All cars will have a ZF eight-speed automatic transmission, and all-wheel drive will be optional allowing for all of the engine power sent to the rear wheel during normal driving and a full 50/50 split between front and rear axles when needed. As we suspected, the 2014 Quattroporte has grown in size to better compete with the Mercedes-Benz S-Class.