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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.

Drive like a prince: Join us for a walk through Monaco's car collection

Small, crowded, and a royal pain in the trunk lid to drive into during rush hour, Monaco sounds like an improbable location for a huge car museum. And yet, this tiny city-state has been closely linked to car culture for over a century. It hosts two major racing events every year, many of its residents would qualify for a frequent shopper card if Rolls-Royce issued one, and Prince Rainier III began assembling a collection of cars in the late 1950s. He opened his collection to the public in 1993 and the museum quickly turned into a popular tourist attraction. The collection continued to grow after his death in April 2005; it moved to a new facility located right on Hercules Port in July 2022. Monaco being Monaco, you'd expect to walk into a room full of the latest, shiniest, and most powerful supercars ever to shred a tire. That's not the case: while there is no shortage of high-horsepower machines, the first cars you see after paying ˆ10 (approximately $11) to get in are pre-war models. In that era, the template for the car as we know it in 2023 hadn't been created, so an eclectic assortment of expensive and dauntingly experimental machines roamed whatever roads were available to them. One is the Leyat Helica, which was built in France in 1921 with a 1.2-liter air-cooled flat-twin sourced from the world of aviation. Fittingly, the two-cylinder spun a massive, plane-like propeller. Government vehicles get a special spot in the museum. They range from a Cadillac Series 6700 with an amusing blend of period-correct French-market yellow headlights and massive fins to a 2011 Lexus LS 600h with a custom-made transparent roof panel that was built by Belgian coachbuilder Carat Duchatelet for Prince Albert II's wedding. Here's where it all gets a little weird: you've got a 1952 Austin FX3, a Ghia-bodied 1959 Fiat 500 Jolly, a 1960 BMW Isetta, and a 1971 Lotus Seven. That has to be someone's idea of a perfect four-car garage.  One of the most significant cars in the collection lurks in the far corner of the main hall, which is located a level below the entrance. At first glance, it's a kitted-out Renault 4CV with auxiliary lights, a racing number on the front end, and a period-correct registration number issued in the Bouches-du-Rhone department of France. It doesn't look all that different than the later, unmodified 4CV parked right next to it. Here's what's special about it: this is one of the small handful of Type 1063 models built by Renault for competition.

Why Maserati won't share the Nettuno V6 with its siblings

Maserati spent a great deal of time and resources developing a twin-turbocharged, 3.0-liter V6 called Nettuno. It made its debut in 2020 in the MC20, and it will be available in the Grecale Trofeo in 2022, but Autoblog learned that the six won't travel outside of the trident family. "We want to keep the Nettuno engine as a signature for the brand. It was developed with the aim of being uniquely associated with the Maserati brand, so it was designed and engineered specifically for Maserati. It's technically feasible to apply it to other cars [in the Stellantis group], but we want to keep it proprietary. We have it in the MC20 and now in the Grecale; there will be other uses for it in the future, but always in Maserati cars," Federico De Medio, Maserati's head of vehicle validation, told Autoblog on the sidelines of the Grecale launch. While he stopped short of providing details about the other uses, De Medio hinted that Nettuno will gradually replace the Ferrari-derived V8 that Maserati has used for many years. He explained that the project's goal was to design a six-cylinder engine with V8-like power. Does that mean that a V8 with V10-like power is on its way? Nope, it sounds like the eight-cylinder's days are numbered in the Maserati line-up. Asked how long the V8 had left to live, De Medio replied that "it depends on the life of the product itself, so the response will be provided by the market and by regulations." And, how about a new V8 designed in-house? "Never say never, but for now we just launched Nettuno so let's enjoy the V6," he answered. What's certain is that the Levante and the Quattroporte won't need a V8 for much longer: they're going electric in the coming years. We know the Ghibli is on its way out, so that leaves the next-generation Gran Turismo as the only candidate for a V8. Nothing is official, but our crystal ball tells us it's more realistic to expect that the coupe will make its debut with a V6 than with a V8. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.