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FCA close to paying off debt, outperforming Ford in earnings

FCA boosting output of SUVs, trucks in U.S. Marchionne says the company no longer needs a merger partner FCA expects to pay off all debt this year "There's a very strong likelihood that we will outperform Ford" MILAN/DETROIT — Fiat Chrysler's shift to sell more trucks and SUVs boosted margins yet again in its North American profit center, making Chief Executive Sergio Marchionne confident he can hit most of the final targets of his five-year turnaround plan. FCA has been retooling some U.S. factories to boost output of lucrative sport-utility vehicles and trucks while ending production of some unprofitable sedans. This put the world's seventh-largest carmaker on track to become debt-free by the end of the year, and allowed Marchionne to make good on his promise to close the gap on larger U.S. rivals General Motors (GM) and Ford. "There's a very strong likelihood that we will outperform Ford in terms of operating earnings in 2018," Marchionne told analysts on an earnings call Thursday. "That's something that if I told any of us in the room here that would've been doable five years ago, nobody would have believed it." As the 65-year-old executive prepares to hand over the reins to an internal successor next year, he said the improvements mean the company no longer needed a partner to survive. The carmaker has often been the subject of merger speculation, especially after its unsuccessful 2015 attempt to tie up with GM. "The necessity to find a partner, to try and guarantee our survival, going forward, is put to bed. I mean we're done," Marchionne told analysts on a post-results conference call. North America accounted for 71 percent of earnings last quarter, and profit margins in the region rose to 8 percent from 7.1 percent a year earlier, even as shipments fell 3 percent. Meanwhile Ford's automotive margin for North America slipped to 6.8 percent, down from 8.5 percent a year earlier.FCA trimmed its expectations for 2018 revenues and forecast adjusted operating profit of at least 8.7 billion euros, at the lower end of a previously given range. Analysts said FCA's margin improvement was impressive, and it could be on the cusp of a big boost from its new Jeep Wrangler and Jeep Cherokee models and its Ram 1500 truck. FCA ready to pay off its debt But the Italian-American carmaker expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros in net cash by the end of the year.

Mark LaNeve named head of Ford US sales and marketing

Ford continues to rework the positions of its top marketing executives as Jim Farley moves to take over the Blue Oval in Europe and Stephen Odell becomes head of global sales. The latest shift brings Mark LaNeve in as the new vice president of US marketing, sales, service and dealer relations, effective February 1. LaNeve replaces John Felice, who is retiring. Felice was with the automaker for the last 30 years and held his most recent job since November of 2013. In addition to coordinating marketing and sales, LaNeve's other duty is to build "innovative new digital communications and transforming the retail experience for customers," according to the automaker's press release announcing the change. He reports to both Odell and Joe Hinrichs, Ford's boss of the Americas. LaNeve has a long history in the auto industry. He spent a portion of his early career with Cadillac but eventually was hired as the CEO of Volvo Cars North America. He also headed up US marketing at General Motors for several years in the 2000s. Since 2012, LaNeve has been the chief operating officer at Global Ford Team, which is responsible for the company's worldwide advertising. There's an interesting challenge ahead of LaNeve in leading the Blue Oval's US marketing and sales in 2015. Ford was the bestselling auto brand here in 2014 but overall sales fell about 1.1 percent. According to Automotive News, the company's market share dropped to 14.9 percent, a one-percent reduction and the lowest level since 2008. Read below for the automaker's official announcement of LaNeve's new job. JOHN FELICE RETIRING AFTER 30 YEARS; FORD NAMES MARK LANEVE TO LEAD U.S. MARKETING, SALES AND SERVICE TEAM John Felice is retiring as vice president, U.S. Marketing, Sales and Service, after 30 years of service Mark LaNeve, named vice president, U.S. Marketing, Sales and Service and elected a Ford Motor Company officer; former chief operating officer at Global Team Ford brings nearly three decades of automotive marketing and sales experience to Ford Ford Motor Company [NYSE: F] announced today changes in its senior leadership team as it continues to deliver and accelerate the company's One Ford plan while driving for product excellence and innovation. John Felice, vice president, U.S. Marketing, Sales and Service, has elected to retire after 30 years at Ford, effective Feb. 1, 2015.

2013 Ford Mustang V6

Secretary Trim, Evolved
There was a time not so long ago when opting for a base Ford Mustang meant getting little more than some sheetmetal, an anemic four-cylinder engine and what may very well have been the world's most disappointing automatic transmission. During the Fox Body years, Ford seemed hell-bent on living up to Carroll Shelby's derogatory description of the coupe as little more than a runabout for demure office assistants, and the result was a base model with fewer sporting intentions than a Dilbert day calendar.
Some 20 years later, hopping behind the wheel of an entry-level pony is an entirely different experience. With all of the menacing aesthetics of the brawnier GT, a well-equipped interior and a drivetrain that toes the line between efficiency and power better than few before it, the 2013 Ford Mustang V6 is an attractive option for buyers in the big coupe market. But is it attractive enough to forgo the beastly GT?