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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.

270,000 Ram pickups in ‘salt belt’ recalled to fix sagging fuel tanks

Drive a Ram 1500? Maybe it's time to give your fuel tanks a look. FCA is issuing a voluntary recall of over 270,000 Ram 1500 pickups to prevent their fuel tanks from sagging. A corrosion-related problem, the issue can be identified either visually by looking at the undercarriage, or by listening to any scraping noises, as the brackets for the fuel tanks straps corrode and can cause the tanks to hang low. FCA says in its statement that the recall is limited to 270,254 model year 2009-2012 Ram 1500 pickups that have been registered in states belonging to what is called the "salt belt," that is, the District of Columbia and the following states: Connecticut, Delaware, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Montana, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Wisconsin and West Virginia. Some 27,000 trucks will also be recalled in Canada, a thousand in Mexico and some 5,300 others. The tanks themselves are made of high-density polyethylene, and as such do not rust out: The problem is related to their fixings. The tanks won't be detached, as if a bracket fails, the remaining structural components will still hold the tanks. FCA also says no related incidents or injuries have been reported, nor have there been any fires — but the brackets are definitely worth getting fixed. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2019-20 Ram 2500 and 3500 trucks recalled for bed step that can fail

It hasn't even been a full month since Chrysler issued a recall for 425,588 Ram 1500s, 1500 Classics, and Jeep Compass vehicles due to faulty windshield wipers, yet Ram trucks are already back in the recall news roll. This time, Chrysler has recalled 2019-2020 Ram 2500 and Ram 3500 pickups that have an accessory bed step. NHTSA campaign No. 20V207000, published April 9, 2020, states that, "In certain side loading conditions, the bed step may unexpectedly fail while in use." More specifically, recall documents reveal that certain pressure could crack the the mounting bracket that holds the step in place. This potentially could cause injury.  In total, the recall affects 37,580 vehicles, and the report estimates 100% of those vehicles have the defect. Of the more than 35,000 affected, 25,822 of those are 2019-2020 Ram 2500 pickups, and 11,758 are Ram 3500 pickups.  To remedy the situation, Chrysler will replace all affected bed step support braces for free. Chrysler says it expects the recall to begin May 29, 2020.      Recalls RAM Truck RAM 2500 Ram 3500