2006 Chrysler 300 Touring on 2040-cars

Auto blog

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.

Minivan market not what it used to be, but margins make up for it

Residual values for last year's minivans are higher than they were in 2000.
Much like the station wagon was the shuttle of Baby Boomer generation, the minivan has been the primary means of transport for Generations X and Y. Just as the boomers abandoned the Country Squire, though, those kids that were toted around in Grand Caravans and Windstars are adults, and they certainly don't want to be seen in the cars their parents drove.

2015 Chrysler 300 First Drive [w/video]

When Chrysler last updated its 300 in 2011, the fullsize sedan market was a very different place than it is today. Ford's redesigned Taurus was in showrooms, sure, but segment stalwarts like the Toyota Avalon and Chevrolet Impala were languishing at the tail end of their model cycles. And still, the second-generation 300 (not counting the "letter series" cars from the 1950s and '60s, of course) failed to recapitulate the booming success of the model reboot in 2004. Something in the combination of the down economy, higher gas prices and great product from front-wheel-drive entries in the class kept the 300 from the six-digit sales numbers it saw in the early 2000s. For the 2015 model year, Chrysler hopes that a more clearly defined purpose for its big sedan, combined with liberal dipping into the corporate tech toy box, will rekindle buyer interest. Considering the mild characters and front-driver dynamics of its mainstream competition, the promise of V8 power and rear-wheel drive should at least turn the heads of those looking for a car with a little edge. I grabbed the keys of the edgiest of the bunch, the sport-intended 300S, and found a big sedan that gives away some practicality to the rest of its segment mates. The trade-off for the dip in pragmatism is an uptick and driving fun and attitude that should make all the difference for the right buyer. Even though the hard-to-miss face of the 300 has come in for another nip and tuck, that attitude is still clearly on display, too. The grille of the 300 is some 33-percent larger than the outgoing model, though it's still far less brutal than the throwback styling of the 2005 "Baby Bentley" car, at least to my eyes. The cheese grater insert is metallic in most trims of the 300, though the 300S you see in my photo set gets the meaner blacked-out treatment. A quick scroll through our gallery will show you that the rest of the 300 has been similarly changed but not reinvented. Light clusters front and rear are revised, the rear clip has been re-forged with less busy styling, and the whole car has been de-chromed to a large extent (this 300S is wearing the least blingy outfit of the bunch). That rear spoiler is S-model specific. I held the existing 300 interior in fairly high regard, and this new car improves on that base.