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Fiat Chrysler's Q3 profit boosted by strong North American earnings

MILAN, Italy — Fiat Chrysler Automobiles (FCA) reported a 17 percent jump in third-quarter adjusted operating profit on Tuesday, helped by a strong performance in its key North American market and improving operations in Europe and Latin America. The world's seventh-largest carmaker still makes the lion's share of its profits in North America, so improving, or at least maintaining, its margins there is a key focus. The carmaker reported an 8 percent adjusted operating profit margin in the region, up from 7.6 percent a year ago, despite a drop in sales and shipments. "FCA's profitability in North America remained strong in the quarter despite a weakening market there," a Milan-based analyst said. FCA's profitability compares with an 8.3 percent North America margin reached in the quarter by bigger U.S. rival GM , showing CEO Sergio Marchionne making progress towards his goal of closing the margin gap with GM and the company's other U.S. rival, Ford, by 2018. The company's confirmation of its full-year outlook also pushed shares higher, a trader added. The stock was up 2.8 percent by 1129 GMT, outperforming a 1 percent rise in the European auto index. FCA has been retooling some U.S. factories to boost output of sport-utility vehicles (SUVs) and trucks while ending production of some unprofitable sedans to strengthen profitability as the U.S. car market comes off its peak. The company said a drop in North America shipments due to lower fleet sales and discontinued models was partially offset by higher deliveries of Ram trucks and two models from the Alfa Romeo stable: the Stelvio sport utility vehicle and Giulia sedan. Profitability also improved in Europe, helped by sales of the Stelvio and the new Jeep Compass, and Latin America, while margins at Maserati remained strong at 13.8 percent due to strong demand for its first SUV, the Levante. In a later conference call, investors are looking for hints on the new strategy to 2022 which the company promised to unveil early next year. Chief Executive Sergio Marchionne said earlier this year that FCA would streamline its portfolio and that components businesses, including Magneti Marelli, would be separated from the group, possibly via a spin-off. While FCA confirmed its targets this year, doubts remain about its exposure to a weakening U.S. market, recall costs and potential fines over emissions after it was targeted by European and U.S.

Maserati GT2 turns the MC20 into a real race car

Maserati previewed a racing version of the MC20 super car last year, and now it's finally showing the real thing. The car has dropped the MC20 name altogether, becoming just the Maserati GT2. That's a bit odd, considering it's still an MC20 at its core, but regardless, the race car is still pretty sweet. Significant exterior changes have been made to become a GT2 race car. Vents, louvres and intakes are all over and much larger. It's all in service of increased downforce, as well as increased cooling. And besides adding more holes, the GT2 features a flat undercarriage, bigger diffuser and a giant adjustable rear wing. The carbon fiber chassis is the same as the MC20, and it continues to use double-wishbone suspension front and rear. But geometry has been updated, and it uses unique shocks, springs and anti-roll bars. And of course, they're all adjustable. Stopping power is provided by six-piston front calipers, four-piston rears, and ventilated steel rotors. The engine is also pretty much what you would expect in a regular MC20, and Maserati even quotes the same 621 horsepower and 538 pound-feet of torque. But the output of the twin-turbo Nettuno V6 can be adjusted based on balance of performance needs for races. It also is capable of greater overall boost pressure and reduced back pressure in the opened-up exhaust. It does ditch the eight-speed automatic in favor of a six-speed sequential manual transmission, plus a competition-ready limited-slip differential. The interior is expectedly gutted. In place of the more luxurious MC20 cockpit, the GT2 gets race-spec seats, a multifunction steering wheel and control stack and a screen for instruments. It also has a roll cage and six-point racing harness. While many niceties are gone, the GT2 does still have air conditioning. Maserati will be offering the GT2 to professional racing teams for regular competition and private owners for track and occasional racing use. The company expects the car to start appearing in the Fanatec GT2 European Series this year, with full-year competition starting next year. Related Video:

Ferrari to stop supplying Maserati with its engines

The Ferrari Q1 earnings call was full of information, and perhaps the biggest revelation was that Ferrari is going to stop supplying engines to Maserati. CEO Louis Camilleri broke the news, and The Motley Fool posted a transcript of the whole call online. "Eventually, we will no longer supply engines to Maserati, which actually from our perspective is actually a good thing, both from a margin perspective, but also the fact that we can transfer a lot of the labor that's been focused on the engines to the car side of the business," Camilleri says. Maserati has used Ferrari engines (arguably, one of the most compelling reasons to buy a Maserati) in its vehicles since 2002, a little while after Fiat passed Maserati off to the prancing horse. The partnership continued as both Ferrari and Maserati were under the same house at FCA. Then when Ferrari was spun off from FCA in 2015, they kept the supply steady to Maserati. Those engines include a 3.8-liter twin-turbo V8, 3.0-liter twin-turbo V6 and a 4.7-liter naturally aspirated V8. Camilleri said Ferrari will officially stop in 2021 or 2022, with no intention of supplying anybody with engines beyond that. Of course, this leaves Maserati high and dry with no engines for its growing lineup. Maserati will have to reach into the FCA parts bin, find a new outside supplier or develop its own engines. Battery electric sounds out of the question. As of now, there doesn't appear to be a clear plan going forward. We've reached out to Maserati to see if they have any comment on the situation as it stands.