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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.

Ram Rebel X Concept wishes it could go offroad at SEMA [w/video]

Given the truck's defiant spirit, the Ram 1500 Rebel simply can't appear subdued. For the Rebel X Concept at the SEMA Show, Mopar goes all out to make the already tough looking pickup even more brash. The Rebel X certainly stands out in the vast ocean of customs at SEMA with its orange-tinted Copper paint. Thanks to 35-inch Toyo tires on 17-inch beadlock wheels underneath flared fenders, there's also no question that this truck wants to be offroad. In addition to the vibrant body, the front end wears black trim, and a concept, two-piece skid plate underneath offers a little visual contrast. The interior actually tones down the bold look slightly by combining black leather seats with Rebel X embroidery and Copper stitching. Rather than being just about style, Mopar beefs up the 5.7-liter V8 with a cold-air intake and cat-back exhaust. The division also tweaks the suspension by fitting a concept, air-ride setup. Get a better look at the Rebel X by checking out our gallery from SEMA above or the video below of the modded pickup at the show. Related Video: Ram Rebel X The Ram 1500 Rebel makes a statement by itself. Mopar helps proclaim its all-terrain credentials even louder with the Ram Rebel X, a full-size pickup outfitted with a catalog of production parts and accessories. The unique dark Copper exterior extends to the functional sport performance hood, accented with a Matte Black graphic trimmed with a Mopar Blue tracer. Mopar wheel flares extend over the 35-inch Toyo tires, which wrap around 17-inch cast-aluminum beadlock wheels that equip the 1500 Rebel for rumbles over off-road terrain. Painted functional beadlock rings with fasteners are also featured on the beadlock wheels, with Mopar center caps providing another highlight to the rims. The front features the distinctive Rebel grille with the RAM logo painted in Satin Black and a concept two-piece skid plate. The bed is stylishly secured with a soft tri-fold tonneau cover, and a Mopar dual exhaust bed step helps reach tools or equipment stored in the rear. Black tubular side steps provide a lift into the interior, which features prototype Katzkin leather seats embroidered with the Rebel X name outlined in silver in a black field, with a blue field for the "X." Copper stitching accents the armrest and steering wheel. Additional features inside include all-weather slush mats, a pedal kit and door sills.

Mopar updates owner apps to make car ownership easier

Owners of any Fiat Chrysler vehicle will want to head to the Apple App or Google Play store to download the latest version of their brand-specific smartphone app. Developed by Mopar, the new suite of FCA Owner apps specific to each brand pack a number of valuable features. For starters, the apps let owners access information like maintenance schedules, service history and recall notices. The apps also include an array of how-to information and instructional videos, offer push notification for important updates like maintenance offers and recall alerts, and allow customers to schedule test drives and receive quotes from their local dealers for new vehicles. But that's just the tip of the proverbial iceberg. The FCA Owner apps also feature an augmented reality function that helps drivers identify instrument-panel icons. There's a Parking Reminder feature that helps drivers remember where they parked their car, guides them back to their parking spot and tracks the time left on the meter. Finally, there's an Accident Assistant feature that helps drivers record the specifics of an accident, upload insurance information and take photos of the scene. It'll even help find the closest certified collision repair facility, schedule an appointment and access roadside assistance. The apps are available for any Chrysler, Dodge, Ram, Jeep, Fiat or Alfa Romeo built from 2011 till today, and are available for either iOS or Android. If you've got more than one FCA vehicle in your garage, you needn't download multiple versions of the app as they'll work on any model the Italian-American automaker offers. Mopar Enhances FCA Owner Apps - Redesigned FCA Owner apps offer a wide range of VIN-specific information - Owners can access maintenance schedules, service history, recall notices and more - "Augmented reality" function, beginning with 2015 models, allows owners to use camera feature on mobile devices to scan and identify instrument panel icons - Industry-first Accident Assistant feature helps owners easily document important accident information and quickly locate a certified repair facility - Individual brand versions of the app support all FCA brand vehicles - FCA Owner apps are free to download for both iOS and Android mobile devices May 29, 2015 , Auburn Hills, Mich. - The Mopar brand has redesigned and enhanced its suite of FCA Owner apps, putting more resources than ever at owners' fingertips with easier access to vehicle and lifestyle information.