2011 Dodge Challenger Srt8 392 Inuagural Edition 556/11000 Limited Edition 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.

General Lee Dodge Charger replica jumps Dukes of Hazzard-style in Downtown Detroit

Ouch. That was our first reaction after we saw the video up above, in which stunt driver Raymond Kohn goes full-on Bo and Luke Duke in a specially prepared Dodge Charger right in the middle of Downtown Detroit. The jump looks good – and, courtesy of the whistling-Dixie horn of the Charger, sounds good, too – until you see the landing. Like we said, ouch. The ramp stood just five feet tall, but since the bright orange '69 Charger was traveling around 55 miles per hour when it launched, the car soared 25 feet in the air over a distance of 134 feet. That's pretty impressive. Apparently, the car was modified to take the brunt of the landing forces at impact to help keep Kohn safe (relatively speaking, of course). The stunt was a promotion for the 65th annual Autorama Show, which is taking place this weekend at the Cobo Center in Detroit. Scroll down to watch a video interview with Kohn that was shot right after the stunt, and stick around till the end to see the automotive carnage close up. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video:

The first production 1992 Dodge Viper RT/10 is up for grabs

The 1992 Dodge Viper RT/10 was a game-changer both for parent company Chrysler and the U.S. auto industry at large. While it was significant for bringing its automaker out of its dull, post-1980s funk, it also lit a fire under the rest of Detroit. If it hadn't been for the Viper, the world may not have gotten the C5 Chevrolet Corvette Z06 (and its many world-class successors) or the revived Ford GT.  And the very first one is headed to auction.  This Viper is particularly special for two reasons. Not only was it the first production RT/10 to roll off the line at Chrysler's Mack Avenue plant (the Viper wouldn't move to Conner Avenue Assembly until 1996), but it was immediately scooped up by industry icon and then-Chrysler executive Lee Iacocca, who famously ushered fellow great Bob Lutz on stage at the Viper concept's reveal and told him to "build the damn thing." Even if you've never heard of Iacocca, you're certainly familiar with the cars he's influenced, whether you know it or not. Whether it's the Chrysler K-Car platform (and the minivan segment it spawned) or the 1964 Ford Mustang, one of Iacocca's projects has undoubtedly touched your life in one way or another.  Showing just over 6,200 miles, this Viper remained in Iacocca's possession from day one until his passing in 2019. Even without the Iacocca connection, this would be a special lot. VIN #001 is all-original, packing the 8.0-liter V10 engine that made the Viper famous. Dodge's bruiser was also known for being light on superfluous extras, such as anti-lock brakes, which the Viper didn't receive until 2001 — just before the second-generation model was discontinued.  Bonhams projects this Viper will go for between $100,000 and $125,000. That's probably a bargain. Opportunities to own such a unique and significant piece of automotive history come around very rarely, and considering this is about the same amount FCA was charging for a brand-new Viper when it went out production in 2017, it's not an unreasonable price point.  The Viper will cross the block on Jan. 16.