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Fiat Chrysler profit up as it closes in on retiring its debt

MILAN — Fiat Chrysler Automobiles reduced its debt by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. Chief Executive Sergio Marchionne expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros ($5 billion) in net cash by the end of the year. Marchionne has said that forecast does not include any one-off measures, nor the impact of the planned spinoff of parts maker Magneti Marelli, which he hopes to execute by early 2019. The world's seventh-largest carmaker said on Thursday net debt had fallen to 1.3 billion euros ($1.6 billion) by the end of March, well below a consensus forecast of 2.6 billion euros in a Thomson Reuters poll of analysts. FCA said capital spending fell 900 million euros in the quarter due to "program timing," which analysts said implied higher investments for the rest of the year. The Italian-American group said first-quarter operating profit rose 5 percent to 1.61 billion euros, below a consensus forecast of 1.74 billion, as a weaker performance from its North American profit center weighed. Shipments there were higher due to the new Jeep Wrangler and Compass models. But currency moves hit revenues and earnings, and costs related to new product launches added to the pressure. FCA's shift to sell more trucks and SUVs boosted margins yet again in North America to 7.4 percent from 7.3 percent in the same quarter a year ago, although they were down from the 8 percent recorded in the preceding three months. Marchionne, preparing to hand over to an internal successor next year, is close to his goal of ending a margin gap with larger U.S. rivals General Motors and Ford. The 65-year-old has said becoming debt free and being able to compete on a par with U.S. peers would mean FCA no longer needed a partner to survive and could well succeed on its own. The CEO has previously said tying up with another carmaker would help to meet the huge costs in an industry investing in electric vehicles and automated driving. FCA shares fell immediately after the results, but recovered to trade up 3 percent at 19.71 euros by 1150 GMT, outperforming a 0.4 percent rise in Europe's blue-chip stock index. ($1 = 0.8214 euros) Reporting by Agnieszka FlakRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2021 Ram 1500 Review | What's new, specs, prices and pictures

This review is cram-packed with everything there is to know about the full 2021 Ram 1500 lineup, including the new 702-horsepower Ram TRX, so we'll go ahead and keep this intro brief. In short, the Ram 1500 continues to be our top full-size pickup choice. It's a grand slam, a hat trick, a 95-yard touchdown pass. From the humble Tradesman to the indulgent Limited, the Ram is a thoughtfully designed and well-executed truck that offers a little something for every buyer. And thanks to that TRX, "every buyer" now includes "guy who wants to go 103 in a desert wash while occasionally jumping a gorge." Sweet. What's new for 2021? While there are plenty of updates and additions for 2021, all are overshadowed by the new Ram 1500 TRX. We extolled its beastly virtues in our TRX first drive review, but in short, this long-awaited answer to the Ford Raptor packs a version of the "Hellcat" 6.2-liter supercharged Hemi V8 good for 702 hp and 650 pound-feet of torque. A new, unique-to-TRX suspension puts that absurd power to the dirt for high-speed desert running, while body modifications include a unique hood and grille, and the flared fenders that add to a whopping 8 extra inches of body width. The interior also gets its own design flourishes, plus a unique center console featuring a gear stick in place of the usual dash-mounted rotary knob.  Now, the other changes. Full-speed forward collision warning is now standard on all trims but Tradesman and Big Horn, which include it in an optional equipment group. Trailering is also made easier thanks to the newly Trailer Reverse Control (it basically steers for you while backing up while hitched to a trailer), power-folding trailer mirrors that are now a stand-alone option, and a new trailer camera prep kit. There's also a new color head-up display available as well as a camera-based rearview mirror. Finally, the new 2021 Limited Longhorn 10th Anniversary Edition features special badging and unique interior trim. 2019 Ram 1500 Interior View 56 Photos What are the Ram 1500 interior and in-car technology like? It's easy to be smitten by the Ram 1500 in its fanciest Longhorn and Limited trim levels, which are bedecked in soft leather, special color schemes and unique styling elements like the Longhorn emblem literally branded into real wood trim. There are unique features like the huge vertically oriented touchscreen and the ventilated reclining back seat. They're easily the most luxurious pickups ever made.

Ram providing horsepower for 142nd Kentucky Derby

More than 120,000 people will descend on Louisville, KY for the 142nd Kentucky Derby this weekend. Seersucker, bowties, and very large, obnoxious hats will be the most common attire among those in attendance, all of whom will have an unquenchable thirst for mint juleps. Ram wants to capture their attention. The truckmaker has announced a new "multi-tier sponsorship" of Churchill Downs and the Kentucky Derby, and will serve as a major advertiser during Saturday's race. The company will air two 30-second advertisements during NBC's broadcast. The first, titled "Truck People – Derby" is up top, while Ram is saving the second, "Never Settle," for race day. Beyond the ads, racegoers will be treated to on-site displays around the track, which is perhaps the best evidence of a truck's toughness – if the official truck of the Kentucky Derby can survive its notoriously "decadent and depraved" infield, it can probably handle towing a boat or hauling topsoil. The three trucks, a Rebel, a 1500 Limited, and a dual-axle 3500 Limited will even be decked out in jockey-like styles. To help build up to its Derby involvement, Ram has released a first-person point-of-view video, just in case you've ever wondered what kind of view the jockeys have as they lap the one-mile dirt track. You can see that video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.