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Fiat Chrysler's profit boosted by Ram and Jeep in North America

MILAN/DETROIT — Fiat Chrysler took the market by surprise by sticking to its full-year profit guidance on Wednesday after a strong performance from its Ram pickup truck in North America helped it defy an industry slowdown. Chief Executive Mike Manley, in FCA's first earnings release since a failed attempt to merge with France's Renault, also left the door open to that or other deals. "We are open to opportunity," Manley said on a call with analysts. "I have no doubt why there still would be interest in it," he added, when pressed on what it would take to revive talks with Renault. Manley declined to comment further. FCA last month abandoned its $35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world's third-biggest automaker. Manley said a merger was not a must-have and Fiat Chrysler's business plan was strong. The company said it remained confident its adjusted earnings before interest and tax (EBIT) would top last year's 6.7 billion euros ($7.5 billion). Given disappointing forecasts from other automakers this earnings season, FCA's confirmation of the outlook sent Milan-listed shares in the Italian-American automaker, whose other brands include Jeep, up over 4%. A broad-based auto sales downturn has rattled the sector, forcing FCA's competitors — including Renault, Daimler and Aston Martin — to cut their sales forecasts after second-quarter results, while U.S. carmaker Ford gave a weaker-than-expected 2019 profit outlook. Japan's Nissan, a long-term partner of Renault, said it would cut 12,500 jobs by 2023 after its earnings collapsed. In the second quarter FCA's adjusted EBIT totaled 1.52 billion euros, versus analysts' expectations of 1.43 billion euros, according to a Reuters poll. FCA's U.S. shipments were down 12% in the second quarter but the group said that the successful performance of its Ram brand resulted in an enhanced share of the large pickup truck market of 27.9%, up 7 percentage points from last year. Adjusted EBIT margin in North America rose to 8.9% from 6.5% in the first quarter, thanks to strong demand for the heavy-duty Ram and the new Jeep Gladiator pickup. Chief Financial Officer Richard Palmer also said FCA expected to report up to 10% margins in the region in both the third and fourth quarters.

Autoblog Podcast #408

Episode #408 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Brandon Turkus talk about the possibility of France banning diesel, Cadillac putting Porsche in its sights, and the lineup of high-performance Fords potentially coming to the Detroit Auto Show. 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 #408: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: France to ban diesel? Cadillac to go Porsche hunting Ford NAIAS lineup In The Autoblog Garage: 2015 Cadillac ATS Coupe 2015 Audi S3 Long-Term 2014 Jeep Cherokee Hosts: Dan Roth, Steven Ewing, Brandon Turkus Runtime: 01:04:56 Rundown: Intro and Garage - 00:00 France Diesel Ban - 27:13 Cadillac vs. Porsche - 34:32 Ford Performance at NAIAS - 42:23 Q&A - 49:46 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 Podcasts Detroit Auto Show Audi Cadillac Ford Jeep

First Jeepster prototype spotted with final, boxy form

The long-awaited baby Jeep is getting closer to production, as evidenced by these spy photos. Previously, the only images of the so-called Jeepster saw it wearing a Fiat 500L body (see below), while this new batch of photos show hefty amounts of camouflage. How is that better? Well, it's very likely there's a production body hiding under all that cladding.
While picking out styling details is virtually impossible thanks to all the camo, as our spies point out, this gives us a very sound idea of the Jeepster's final size. It's small, although we'd argue that it's only slightly smaller than the current Jeep Patriot, based on the images of the newest Jeep sitting in front of an Alfa Romeo Giulietta.
As we reported previously, this little bambino will be built on a Fiat platform, but the styling should be uniquely Jeep - likely to include a somewhat vertical seven-slat grille and round headlights. We can expect to see a production Jeepster, if that ends up being the actual name (Latitude has been rumored, although as that's traditionally a trim level, we imagine there'd be some confusion), when it debuts at the 2014 Geneva Motor Show.