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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.

Maserati introduces Ghibli to Americans in Super Bowl spot

Fiat Chrysler Automobiles aired three commercials during this year's Super Bowl, and the first spot was given to Maserarti during the first quarter of the big game. The 90-second ad was used by Maserati to introduce its new midsize Ghibli luxury sports sedan to a very captive American audience.
Called Strike, the Ghibli commercial tells the familiar tale of the little guy who waits around for the world's giants to let down their guard. Scroll down to watch the spot yourself and let us know if it lives up to the high bar that Chrysler brands have set for themselves in past Super Bowls.

Alfa Romeo drops its Giorgio platform as it electrifies for the future

Alfa Romeo, a storied Italian automaker with a tremendous amount of goodwill from the automotive enthusiast crowd, is about to go through yet another major transformation. According to reports, including this one from Automotive News Europe, newly appointed Alfa Romeo CEO Jean-Philippe Imparato told Italian journalists during a roundtable event that all future vehicles from the company would be electrified and built on a new platform known internally as the STLA large-vehicle architecture that will be shared across brands under the Stellantis umbrella. "We are working on the Large platform of Stellantis and we will no longer use the Giorgio,” Imparato said. “We must take advantage of the volumes to take all possible opportunities and bring an EV range to Alfa Romeo, but always with the touch of Alfa Romeo.” That means the well-regarded Giorgio platform that currently underpins Alfa Romeo's only two mainstream products, the Giulia sedan and the Stelvio crossover, will come to an inglorious end. That's a shame. The Giorgio platform didn't just cost Alfa's previous parent company Fiat Chrysler Automobiles millions of dollars to engineer, it also gave the company a duo of vehicles that arguably drive better than anything else in their segments. Forbes reports that the Giorgio platform won't be entirely abandoned, as it will reportedly be integrated into the rest of the Stellantis portfolio in some way. We don't know exactly what that means, but perhaps it lives on in heavily modified form as the basis of crossovers and SUVs like the upcoming Jeep Grand Cherokee, which Jeep calls a completely new platform but one we believe shares engineering with the Giorgio. We also think it will underpin the upcoming Maserati Grecale. As for the future of Alfa Romeo, the next model coming from the brand is the Tonale, which was delayed by Imparato in order to get its plug-in hybrid powertrain just right. Tonale will use a platform shared with current Jeeps. Rumors suggest an even smaller crossover called the Brennero is on the way, also using a hybrid drivetrain. Past that, we'll just have to wait and see — Imparato says new 5-year and 10-year plans are currently being finalized. In any case, we doubt there will be any significant updates to the Giulia or Stelvio as the brand moves all its resources to its electrified intentions. Related video: