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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.

2015 Alfa Romeo 4C Spider First Drive [w/video]

New cars are getting, to quote Alice during her Adventures in Wonderland, "curiouser and curiouser." Take the Alfa Romeo 4C, a car from a mass-market European brand with supercar-like construction at a price that starts under $55,000. The exotic looks on the outside are countered with an almost pre-war era lack of frills on the inside, but the 4C drives like a street-legal go-kart when you put it to work. That price is either a bargain or a ripoff, depending on your priorities. This oddity now has a topless variant in the 2015 Alfa Romeo 4C Spider, which is almost identical to the coupe at first glance. On the stat sheet, two numbers separate this open-top car from its closed-cabin sibling. The first is ground clearance, which goes down in the Spider: 4.4 inches here compared to 4.5 inches in the coupe. The second number is 22. That's how many pounds the Spider gains by losing its roof, for a claimed weight of 2,487 pounds. Alfa Romeo senior product planner Fabio Migliavacca says none of that mass comes from body reinforcement. The 4C's carbon fiber tub was engineered for convertible duty from the go. Alfa Romeo engineered the 4C's carbon fiber tub to handle convertible duty from the beginning, so the roof on the coupe – made of the same sheet-molded compound as the rest of the body – isn't a structural member. The Spider's canvas soft top accounts for an extra 14.3 pounds, making it heavier than the roof on the coupe. And yes, you read that correctly, the Spider comes standard with a canvas top. The optional carbon fiber roof panel costs $3,500. In fact, the options list is so full of woven composite accessories that, during the presentation, one journalist asked if the $1,595 charge for destination and handling could also be had in carbon fiber. The other 7.7 pounds comes from small alterations. The Spider gets larger mufflers – 11-liter cans here, as opposed to eight liters on the coupe - for a richer exhaust note. The car's rear haunches are reshaped to be fuller than those on the hardtop, and the engine cover is now a single solid piece, without the coupe's revealing clear insert. A few changes on the Spider will come to the coupe, including a pair of cellphone pockets, one next to each seat. The awful Parrot stereo goes away, replaced by a more friendly Alpine unit. Some coupe options are standard features on the Spider, like the full leather interior. Two of the six seat styles and four of the six available wheels are exclusive to the Spider.

2025 Toyota 4Runner is here, Chevy Corvette ZR1 teased | Autoblog Podcast #827

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Electric, John Beltz Snyder. The big news of the week is the reveal of the 2025 Toyota 4Runner. Chevy teased the 2025 Corvette ZR1, Alfa Romeo previewed its Milano EV and BMW announced the M5 Touring. Tesla cut the price on the Model Y, canceled a lower-cost EV and is doubling down on robotaxis. Disneyland's Tomorrowland cars are going electric. This week, we've been driving the Toyota GR Corolla and Supra, as well as the Kia EV9. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #827 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2025 Toyota 4Runner (finally!) revealed Chevy teases summer reveal of 2025 Corvette ZR1 Alfa Romeo Milano revealed as brand's first full EV offering BMW M5 Touring confirmed: Wagon lovers rejoice! Tesla Model Y price cuts / lower-cost Tesla model canceled / Tesla pivots to robotaxis Disneyland's Tomorrowland cars are ditching fossil fuel, and Disney World ought to do the same Cars we're driving 2024 Toyota GR Corolla 2024 Toyota GR Supra 2024 Kia EV9 Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Alfa Romeo BMW Kia Toyota Coupe Crossover Hatchback SUV Wagon Electric Future Vehicles Hybrid Luxury Off-Road Vehicles Performance