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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.

Fiat set to invest $12B on new models, stop Euro losses in 3 years

Naturally, you'd expect a massive automaker like Fiat to have an in-depth plan to exit the current European-market doldrums, and you'd expect that plan to include plenty of new vehicles to attract those precious buyers that still remain despite the financial downturn. And you'd be right, though Fiat does seem to have a few unexpected twists up its corporate sleeve.
Perhaps the biggest shocker is a report that Fiat will completely drop the Punto, a car with mass-market appeal aimed at small-car buyers cross-shopping the popular Volkswagen Polo. Its replacement will be a five-door Fiat 500 aimed at upmarket buyers (sounds awfully similar to the 500L) that will be built in Poland. Lower-end customers will reportedly be served by variants of the Fiat Panda.
Borrowing a page from the BMW, Daimler and Volkswagen playbook, reports Automotive News, Fiat is said to have plans to reignite production at its Italian factories by retooling them to build high-end vehicles from Maserati and Alfa Romeo. These will be marketed as premium products, built by skilled Italian workers (who are paid wages that are 75-percent higher than those building Fiats in Poland), and will be sold around the world.

2023 Maserati Grecale revealed with 523-hp twin-turbo V6

After months of releasing preview images and several delays, Maserati has introduced the Grecale, its long-awaited entry-level SUV. The sub-Levante model is aimed directly at the Porsche Macan, and it will likely become the firm's best-selling nameplate in the coming years. The latest addition to the Maserati range stretches 191 inches long and 66 inches tall, dimensions that make it about six inches shorter and nearly the same height as the Levante. Visually, it illustrates what Maserati design boss Klaus Busse meant when he told us that future Maserati models would borrow styling cues from the MC20: its front end is defined by a wide grille positioned below a pair of elongated headlights. Viewed from the side, the Grecale leans more toward sportiness than utility, while the back end wears horizontal lights connected by a strip of bright trim. Vents chiseled into the fenders and trident-shaped logos on the C-pillars link the SUV to the rest of the Maserati range. It's a design that works, in our opinion: The Grecale is recognizable as a Maserati but not a copy of an existing model. Busse told us that the idea wasn't merely to Xerox the MC20's front end onto the body of an SUV. "The design philosophy that I laid out in the beginning was actually done before we designed [the MC20 and the Grecale]. We really had to sit down and get our ahead around what we want to do with the next chapter of the brand. The reality is that 70% of the design process is understanding the message that you want to create, and the car then designs itself and the remaining 30% is just putting it on paper. We didn't want to design the car purely for Instagram; end up with a car loaded with real or fake features, lines, and creases. We're very much about purity. Maserati is a very strong performing car, so it doesn't need to shout, "Hey, look at me!" Quite the opposite; it wants to be a rolling structure, a car that adds almost visual value to its environment. That's the overreaching philosophy," Busse told Autoblog. Inside, Maserati integrated a relatively long list of tech features without making the dashboard look like the automotive equivalent of an iPhone. The driver faces up to four screens: a 12.3-inch digital instrument cluster, a 12.3-inch touchscreen for the Maserati Intelligent Assistant (MIA) digital instrument cluster, an 8.8-inch touchscreen positioned right below, and a digital clock — yes, that seemingly counts as a screen.