2006 Jeep Commander Limited Sport Utility 4-door 5.7l 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.

Auto Mergers and Acquisitions: Suicide or salvation?

We love the Moses figure. A savior riding in from stage right with the ideas, the smarts, and the scrappiness to put things right. Alan Mullaly. Carroll Shelby. Lee Iacocca. Andrew Carnegie. Steve Jobs. Elon Musk. Bart Simpson. Sergio Marchionne does not likely view himself with Moses-like optics, but the CEO of Fiat Chrysler Automobiles recently gave a remarkable, perhaps prophetic interview with Automotive News about his interest and the inevitability of merging with a potential automotive partner like General Motors. Marchionne has been overtly public about his notion that GM must merge with FCA. For a bit of context, GM sold 9.9 million vehicles in 2014, posting $2.8 billion in net income, while FCA sold 4.75 million units and earned $2.4 billion in net income, painting a very rosy FCA earnings-to-sales picture. But that's not the entire picture. Most people in the auto industry still remember the trainwreck that was the DaimlerChrysler "merger" written in what turned out to be sand in 1998. It proved to be a master class in how not to fuse two companies, two cultures, two continents, and two management teams. Oh, it worked for the two individuals at both helms pre-merger. They got silly rich. And the industry itself was in a misty romance at the time with mergers and acquisitions. BMW bought Rolls-Royce. Volkswagen Group bought Bentley, Bugatti, and Lamborghini, putting all three brands into their rightful place in both products and positioning. No marriages there, so no false pretense. Finally, Nissan and Renault got married in 1999. A successful marriage requires several rare elements in this atmosphere of gas fumes and power lust. But a successful marriage requires several rare elements in this atmosphere of gas fumes and power lust, the principle part being honesty. Daimler and Chrysler lied to each other. The heads of each unit, the product planners, and finance all presented their then-current and long-range forecasts to each other with less-than-forthright accuracy. Daimler was the far greater equal and no one from the Chrysler side enjoyed that. The cultures were entirely different, too, and little was done to bridge that gap. Which brings me back to the present overtures by Marchionne to GM. "There are varying degrees of hugs," Marchionne stated in the Automotive News piece. "I can hug you nicely, I can hug you tightly, I can hug you like a bear, I can really hug you." Seriously?

2018 Jeep Wrangler Unlimited JL Sahara Drivers' Notes Review | Fun, multiplied

The 2018 Jeep Wrangler Unlimited JL has huge boots to fill. Its predecessor, the Wrangler JK, was one of the most important vehicles ever, truly breaking Jeep's icon into the mass market. The outgoing Wrangler — especially the four-door Unlimited model — was finally a car you could comfortably live with seven days a week. The new model improves on it in every way without sacrificing what makes Jeeps so beloved. Our loaner was a optioned-up Sahara Unlimited. If you're going for maximum on-road comfort, this is the one to get. It has quite a few options, bumping the as-tested MSRP to $52,235. Features include leather upholstery, heated seats, LED lighting, an upgraded infotainment system, blind-spot monitoring, a body-color hardtop and a Dana 44 rear axle. Editor-in-Chief Greg Migliore: The 2018 Jeep Wrangler is a step forward for this legendary off-roader, improving it in subtle ways that truly effect change. The upgrades feel cohesive and work in harmony to create the most capable and sophisticated Wrangler ever. We tested a loaded-up Unlimited Sahara, which stickered for the eye-watering tally of $52,235. Make no mistake, the Wrangler is a premium SUV. I've always said that if I were to own a Wrangler I'd go for basic trim, but after driving this almost dressy Jeep, I'm not so sure. It's expensive — but it's really nice. The changes for 2018 involve powertrain, design and features. You can read about them here. The styling is what I kept noticing. The changes are subtle, but after looking at it — I'd often stare at it while sipping a cup of coffee last weekend — it really elevates the Wrangler with a more modern look. In Unlimited Sahara trim, with the elegant LED lights, 18-inch polished gray wheels and brilliant white exterior paint, it reminded me more than a bit of the Mercedes G-Class. The greenhouse, which has slightly new and larger window shapes and a steeper windshield angle, also evokes the G-Class, to my eye. This probably wasn't Jeep's intent, but it looks sharp. Speaking of subtle changes, I'd compare the Wrangler's styling changes to the alterations to the Detroit Tigers' uniforms, also from 2017 to 2018. The interior is a solid upgrade from the JK. The digital instruments, the Sahara trim's smart use of leather and stitching, and FCA's clever Uconnect all made my experience in the Wrangler pretty comfy. Love the old war Jeep on the shift knob. The driving experience does feel more comfortable to me compared to the JK.