2008 Green Jeep Wrangler 4wd 2dr X 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.

2018 Jeep Grand Cherokee Trackhawk First Drive | Crazy. Good.

TAMWORTH, New Hampshire – We're tempted to tell you that the 2018 Jeep Grand Cherokee Trackhawk is ridiculous. It's borderline frightening to think that we now live in a world where anybody with the money and the gumption can stroll into the nearest Jeep dealership and place an order for a 707-horsepower Hemi-powered Grand Cherokee. Let's put this slice of history into perspective. The original Jeep, the one used by the military, boasted 60 horsepower from the Go Devil four-cylinder engine under the hood. The most powerful version of the muscle car-era 426-cubic-inch Hemi was factory-rated at 425 hp. And even if that legendary powerplant was underrated from the factory, the Grand Cherokee Trackhawk still obliterates it by a couple hundred horses. In an SUV. Seven-hundred-horsepower sport utility vehicle doesn't exactly roll off the tongue, does it? And conventional wisdom says it shouldn't. But we're here to tell you otherwise. After driving the Trackhawk in and around the streets of Portland, Maine, and taking it to Club Motorsports in New Hampshire, we're convinced that Jeep and SRT engineers have managed to defy physics and reason. The Trackhawk isn't just fast, it's also manageable. Subdued, even – at least when you want it to be. Put the hammer down, summon the nearly demonic power of supercharged combustion, and all hell breaks loose. But the tires don't. With launch control engaged and with the programmable engine speed properly chosen, the all-wheel-drive Trackhawk rockets to 60 miles per hour in just 3.5 seconds, over and over and over again. No drama, no wheelspin, just g-force, pressing you and four close friends into the backs of your seats. It's addictive, and the only penalty is single-digit fuel mileage. But we'll wager a guess that anyone shopping for a Trackhawk isn't much concerned about its drinking problem. The only proper way to experience the Trackhawk's acceleration is from inside. But, to give you an idea of its speed and power, check out the videos below. Stick around for a walkaround both inside and out, and for a look under the hood. Jeep had to make a few small changes to the well-known 6.2-liter supercharged Hellcat V8 engine to shoehorn it under the hood of a Grand Cherokee. The oil pan is reshaped and baffled, the intercooler is modified, and the exhaust manifolds are new. The result is a reduction in torque from 650 pound-feet in Dodge Hellcat models to 645 in the Jeep, but we wouldn't worry about that.

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.