2014 Ram 1500 Tradesman/express on 2040-cars

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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.

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Unibody Ford Ranger replacement

Italian coachbuilder transforms the Ram 1500 into an ostentatious limousine

Motorists who were smitten by the Mercedes-Maybach Ultimate Luxury concept and disappointed by the brand's decision not to build it now have a consolation prize. Created by an Italian coachbuilder named Aznom, the Palladium is a sedan-like four-seater limousine built on a platform borrowed from the Ram 1500 pickup. The Palladium exists at the intersection of sedans and SUVs, both in terms of design and in terms of construction, and it's marketed as a hyper-limousine. Surprisingly, company founder Marcello Meregalli explained he began looking into building a truck-based sedan after seeing the Cadillac-badged presidential limousine unveiled in 2008. "That particular Cadillac gave the final push" to the idea, he reminisced in a statement. Beauty is very much in the eye of the beholder, so all we'll say about the Palladium's sheet metal is that it isn't subtle. Its front end is dominated by a grille with vertical LED inserts, thick pieces of chrome trim, and headlights that look 1500-esque if you squint. Viewed from the side, it's evident there was little stylists could do to mask the 1500's extra-long wheelbase, and the four doors are straight off the truck. And, the entire rear fascia rolls out like a giant drawer to give customers access to the trunk. It's a feature that's odd and innovative at the same time. The basset-like proportions likely make the Palladium a nightmare to parallel park, especially in its home country of Italy, but they also allowed stylists to carve out an unusually spacious interior designed primarily for rear-seat comfort. Passengers riding in the back travel on a bench that Aznom describes as a throne, and they benefit from creature comforts like a separate air conditioning system, a Harman-Kardon sound system, two Microsoft tables, plus an on-board fridge. Of course, there's space to store crystal glasses; how could there not be? Power for the Palladium comes from a twin-turbocharged version of Ram's 5.7-liter Hemi V8 engine. It's tuned to develop 710 horsepower and 701 pound-feet of torque, and it's bolted to an eight-speed automatic transmission. Aznom quotes a 4.5-second sprint from zero to 62 mph, which is on par with the Hellcat-powered 1500 TRX's time and impressive for a beast that tips the scale at 5,842 pounds. Part-time four-wheel drive comes standard. Ten cars will be manufactured, and each one will be unique because clients will be invited to participate in the design process.