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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.

2022 Chevy Silverado ZR2 vs Ford F-150 Raptor and Ram 1500 TRX Spec Comparison

The 2022 Chevy Silverado refresh brings a new top dog off-road Chevy, the Silverado ZR2. It has the biggest V8 available, flashy looks, trick suspension and other off-road goodies. And naturally, that means people will be comparing it with the other top-rung off-road trucks, the Ford F-150 Raptor and the Ram 1500 TRX. As such, we've assembled the specifications available so far to see how the three super trucks compare. Having just been revealed, there are a few things we don't know about the ZR2, such as fuel economy and some other suspension details, but we know quite a lot. And from what we know, the ZR2 has some interesting positives and negatives compared to the other trucks. First, it's pretty clear that the ZR2 isn't as extreme as the Raptor and TRX. We wouldn't be surprised if Chevrolet insists they aren't direct competitors. Specifically it has the least power and torque by a fair margin, the smallest tires and the least ground clearance. Still, it's not completely fighting with an arm tied behind its back. It's the narrowest by a significant margin, which is good for tighter trails. It also has the best towing and payload capacity, and the approach, break-over and departure angles are quite competitive despite the "little" tires. It's also the only one to boast a locking front differential in addition to a rear locker. The Raptor can be had with a limited-slip front differential, and the TRX only gets an open front differential. Check out all the specific numbers in the chart below, as well as additional stories on the trucks featured below. Other reviews and deep dives about the new Silverado, F-150 Raptor and Ram 1500 TRX 2022 Chevy Silverado 1500 Reveal In addition to the new ZR2, the Silverado line also gets new interiors, an upgraded four-cylinder and other updates.   2021 Ram 1500 TRX First Drive Review Our review of the Raptor's chief competitor, the mighty TRX. That just sounds like we're talking about Jurassic Park.   2021 Ram TRX Suspension Deep Dive and RTI ramp test Follow along with engineer Dan Edmunds as he takes you under the TRX and explains everything there is to know about its suspension -- and how it's able to do what it does.

EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.