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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.

Subaru Impreza WRX, Dodge Charger police car from 'Baby Driver' are for sale

Fans of " Baby Driver," now is your chance to own some seriously cool bits of movie memorabilia. Allpro Subaru is currently selling two of the cars from the film. The first is one of the red Subaru Impreza WRXs that were used for some of the film's signature stunts, which made the red rally sedan the de facto hero car of the movie. There were a number of stunt cars used to represent the hero car, including a modified WRX and an STI with a WRX wing. This particular one, a 2006 model, is a little more interesting, as it was the one that was converted to rear-drive to make it easier to complete stunts with it. According to the description, it also has a turbocharger from a 2004 STI to make more power, which fits what stunt driver Jeremy Fry told us. The description reveals other interesting tidbits. The car does have a clean title and has 158,000 miles on it. Obviously some of those miles were a bit rough, and the description notes that the stunt driving has led to some cosmetic defects. The AutoCheck vehicle history report reveals more. Apparently this Impreza WRX led a rough life before filming, as it had four mild to moderate crashes reported. It also appears that it will need the Takata airbag replaced. But on the plus side, this car is a unique piece of car and film history, and its rear-drive layout should make it interesting to drive. On top of that, it also has a leather interior that appears to be in good shape. View 5 Photos You'd better have a healthy bank account before trying to buy this WRX. As of writing, the bidding has reached $40,300. If that's too pricey, though, Allpro Subaru has yet another car from the movie. It's a 2011 Dodge Charger police car in Atlanta, Ga. police livery, complete with a V8. It's also pretty thoroughly wrecked, though the description says that it is drivable. Based on the bullet holes in the windshield, the Charger appears to be the one used in the (mild spoiler alert) final showdown between Baby and Buddy. But because this car is much less famous and in far worse shape, it's also much cheaper. Bidding has only reached $3,000 at the time of writing. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2006 Subaru Impreza used in Baby Driver News Source: eBay / Allpro Subaru via JalopnikImage Credit: eBay / Allpro Subaru TV/Movies Dodge Subaru Auctions Police/Emergency Performance Sedan impreza wrx baby driver

Autoblog Podcast #394

Episode #394 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Michael Harley talk about the possibility of a supercharged Dodge Viper, the Chevrolet Silverado Rally Edition, the newly released supercharger kit for the Honda CR-Z, and rumblings of an Alfa Romeo 6C. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #394: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: Supercharged Viper Chevrolet Silverado Rally Edition Honda CR-Z Supercharged Alfa Romeo 6C In The Autoblog Garage: 2014 Ford Fiesta SE 2015 Cadillac Escalade 2015 Toyota Tundra TRD Pro 2015 Audi A8 L TDI Hosts: Dan Roth, Steven Ewing, Michael Harley Runtime: 01:32:30 Rundown: Intro and Garage - 00:00 Supercharged Viper - 44:25 Chevrolet Silverado Rally Edition - 55:19 Supercharged Honda CR-Z - 01:00:52 Alfa Romeo 6C - 01:07:29 Q&A - 01:13:41 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes