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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.

No surprise here, the Maserati Alfieri has been delayed again

It happened again. Maserati has reportedly delay the gorgeous Alfieri coupe, the concept version of which made its debut way back at the 2014 Geneva Motor Show. According to a report by Autocar, the 2+2 sports car has been put on the back-burner and is now expected to arrive in 2020 – at the earliest. Giulio Pastore, general manager of Maserati Europe, told Autocar that the Maserati GranTurismo and GranCabrio are more vital to the automaker's lineup than the smaller Alfieri. Once Maserati replaces those aging models, it will then shift its focus onto the Alfieri, Pastore says. After the Alfieri concept was unveiled in 2014, reports emerged that it got the green light for production and that a production model would hit the road as soon as 2016. Then the delays started happening, with China's weakening car market as the culprit. More recently, a report claimed that Maserati would have the Alfieri on the road in 2018. With that now pushed back a few years, and the chance for more delays, the car might need a redesign before it goes into production. Related Video: Featured Gallery Maserati Alfieri Concept: Monterey 2014 View 9 Photos News Source: AutocarImage Credit: Copyright 2016 Drew Phillips / AOL Maserati Maserati Coupe Future Vehicles Luxury Performance maserati alfieri maserati grancabrio

2024 Maserati GranTurismo revealed, twin-turbo V6 or 750-hp EV: 'We're going to let buyers decide'

Maserati is in the midst of a renaissance; it's branching out into new segments with cars like the MC20 and the Grecale. While it's counting on these models to widen its target audience, it's not forgetting about its existing customers and the cars that brought them to the brand. The new, second-generation GranTurismo is a blank-sheet redesign that's evolutionary where it counts and revolutionary where it needs to be. First, the elephant in the room: this is a big, luxurious coupe launched in an era when big, luxurious coupes are disappearing at an alarming rate. What's the point? Min Byung Yoon, Maserati's lead exterior designer, explained the grand tourer (a fast, upscale car designed to quickly and effortlessly drive across a country) is one of the pillars that the company's image is built on, and keeping this tradition alive is important. Customers care more about image and usability than tradition, however, so the new GranTurismo receives several important updates. Maserati will offer the GranTurismo in three different flavors: Modena, Trofeo and Folgore. The first two use a version of the excellent 3.0-liter, twin-turbocharged V6 inaugurated by the MC20 and also found in the Grecale. Known as the Nettuno engine internally, it develops 490 horsepower and 443 pound-feet of torque in the Modena, figures that increase to 550 and 479, respectively, in the Trofeo. It's bolted to an eight-speed automatic transmission in both applications, and it spins the four wheels — the original GranTurismo was rear-wheel-drive. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Andrea Baccino, the chief engineer for the Italian firm's electric powertrains, told me that making all-wheel drive standard across the range is a way to expand the GranTurismo's usability. It's now a viable year-round driver, even if you live somewhere in rural Vermont. The system is rear-biased but variable: it can send up to 100% of the engine's torque to the rear wheels or split it 50/50 between the front and rear axles. The V6 is front-mid-mounted to achieve a 52/48 front-rear weight distribution, and the GranTurismo weighs around 3,957 pounds, which is surprisingly low considering it's not exactly nimble: it measures about 195 inches long, 77 inches wide and 53 inches tall. Hitting 62 mph from a stop takes 3.9 seconds in the Modena and 3.5 seconds in the Trofeo, and top speed checks in at 187 mph and 198 mph, respectively.