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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.

Recharge Wrap-up: DIY Tesla charging arm, Tesla vs. Maserati smackdown

A Tesla Model S owner built his own version of an automatic charging arm. Assumingly inspired by the creepy, snake-like prototype Tesla previewed a while back, Deepak Mital's autonomous robot – which he calls the Evtron – finds the plug on his Model S and connects the cable to begin charging. Mital says he plans to open source his design once he's finished. It may not be as "sensual" as Tesla's prototype, but people are less likely to flee it in terror. See the Evtron in action in the video above, and read more at Electrek. A Maserati dealership has taken down a comparison between the Ghibli and the Tesla Model S after a thrashing from the EV community. First of all, the Tesla corner pointed out that the listed price of the Model S 60 at $89,320 is misleading, as the current model starts at $66,000 (a loaded 2015 could be optioned up to the price stated by Maserati, but to call that a fair comparison to the $69,800 Ghibli is highly debatable). Other, older Tesla specs also angered the EV supporters. After a Reddit post and a subsequent backlash toward Maserati of Kirkland, the dealership removed the comparison from its website. Read more at Electrek. A new report predicts that the EV charging system market will generate $8.02 billion by 2022. The report from Allied Market Research, titled "World Electric Vehicle Charging System Market," says that the market will see a CAGR of 30.7 percent from 2016 to 2022. In terms of region, Europe will dominate the market, and home charging systems will outpace public chargers. Forces like unstable fuel prices and government programs to reduce carbon emissions will spur EV sales, which, in turn, will boost the market for charging systems. Read more in the press release below. Electric Vehicle Charging System Market is Estimated to Generate $8.02 Billion by 2022 A new report by Allied Market Research titled, "World Electric Vehicle Charging System Market", forecasts that the world electric vehicle charging system market would generate revenue of $8.02 billion by 2022, registering a CAGR of 30.7% during the forecast period, 2016-2022. In 2015, Europe was the highest revenue-generating region owing to the increasing penetration of home and commercial charging systems in countries such as the Netherland, Denmark, UK and France.

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: