2021 Ram 1500 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.

Jeep and Ram diesel owners get $3,075 in lawsuit settlement

Owners of certain Ram 1500 and Jeep Grand Cherokees equipped with diesel engines will get up to $3,075 in compensation for repairs under a settlement of a class-action lawsuit against Fiat Chrysler over illegal emissions-cheating software. The roughly $800 million settlement was first announced in January and approved by a federal judge in California last week, according to Consumer Reports. The affected vehicles are 2014 to 2016 Ram 1500 pickup trucks and Jeep Grand Cherokee SUVs equipped with 3.0-liter EcoDiesel V6 engines. FCA will update the emissions control software, provide an extended warranty covering up to 10 years or 120,000 miles, and provide cash compensation. Eligible owners will get as much as $3,075, while eligible lessees, former lease holders and former owners will get up to $990, and partial owners will get up to $2,460. FCA has established an EcoDiesel Settlement website where affected owners can find more information on how to submit and track a claim and sign up for updates. Customers with questions can also call 833-280-4748. Vehicle owners will have 21 months to submit a claim, with a deadline of Feb. 3, 2021, and two years to complete the repair and receive compensation for it. Former owners and lease holders must submit claims by Aug. 1, 2019. The EPA in early 2017 issued a notice of violation to FCA after Jeep and Ram installed eight emissions control devices on diesel vehicles. FCA's settlement includes $311 million in total civil penalties to U.S. and California regulators, up to $280 million to resolve claims from diesel owners, $105 million in extended warranties, $72.5 million in state civil penalties and $33.5 million in payments to California for excess emissions and to resolve consumer claims. Auto supplier Robert Bosch GmbH, which provided emissions control software, is paying $27.5 million to resolve claims, plus $103.5 million to settle claims with 47 states. The federal court also approved consent decrees between FCA, the EPA and the California Air Resources Board, plus agreements with all 50 stats and the U.S. Customs and Border Protection. In a statement, FCA said, "The settlements contain no findings of wrongdoing, nor admission of any wrongdoing, by FCA US" and added that the software fixes will have no affect on average fuel economy, performance or other characteristics of the vehicles.

2019 Ram HD Chassis Cab trucks: tough on the outside, comfy on the inside

The past year or so has been big for Ram. FCA's truck division went from having some of the most dated (though still solid) pickups on the market to introducing the 2019 Ram 1500, arguably the new segment leader. A year later, at the 2019 Detroit Auto Show, FCA revealed the new Ram Heavy Duty. Yesterday, Ram announced the 1500 was getting a trick tailgate to compete with the power tailgate on the Chevy Silverado and MultiPro tailgate on the GMC Sierra. Today, at the 2019 Chicago Auto Show, FCA will present the new Ram 4500 and 5500 chassis cab models. Like the Ram 2500 and 3500, the new chassis cab trucks appear to share a lot with the current crop of Ram HD trucks. The cab itself appears to be unchanged from the outside, though the front fascia has been updated to reflect Ram's current design. As with most things, it's what's inside that counts. The chassis cab models get the fantastic interior from the 2019 Ram 1500. It's a handsome and well-appointed cabin. Even base Tradesman models benefit from the new design and packaging. There's new tech, too. The 12-inch infotainment screen is nice to look at, but customers are likely to enjoy features like adaptive cruise control, forward collision warning and automatic emergency braking (with trailer brakes). The safety tech is available on all trim levels. The trucks also pack parking assist and a 270-degree camera view. There are also camera features to help hook up trailers (including fifth-wheel goosenecks). The Ram Chassis Cab 3500, 4500 and 5500 represent Class 3, 4 and 5 GVW ratings. As such they pack some punch under the hood. The standard engine is the 6.4-liter Hemi V8 making 410 horsepower and 429 pound-feet of torque, though 4500 and 5500 models only make 370 horsepower. The Ram 3500 features cylinder deactivation to improve fuel economy. The three trucks are available with a 6.7-liter Cummins turbo-diesel inline-six. The engine makes 360 horsepower and 800 pound-feet of torque. An Aisin six-speed auto is available on V8 models and standard with the diesel. Both engines are available with dual alternators. The trucks are available in four industry-standard frame lengths measured in inches from the cab to the rear axle: 60, 84, 108 and 120. Upgraded brakes should shorten stopping distances and improve pedal feel. Thanks to high-strength steel and aluminum, the truck should weigh about 120 pounds less than before.