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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 GranTurismo Folgore teases itself around Monterrey

Maserati began teasing the GranTurismo Folgore toward the end of Car Week on Twitter and Instagram with a caption that read, "A rose gold wrap suited to the Golden Coast. Impossible to keep it secret. We’re touring California with the new GranTurismo Folgore and an audacious Italian-American entertainer. The air is electric. Keep following us down this road." Maserati seems to have meant the line about not keeping secrets more literally than one would expect, because it nonchalantly parked an uncamouflaged car in the same rose gold wrap at a charging station on the Monterey peninsula before the teases began. It had been thought that the automaker might debut the coupe over the weekend, which could have happened. Autocar says the Italians hosted a private preview for potential customers — that, apparently, was the secret.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Maserati teased a different prototype draped in a blue wrap earlier this year before the Formula E grand prix in Rome. This version, with its Homeric rosy hue and quasi-three-spoke wheels is what we've been waiting for. We like what we see. Yes, it's highly reminiscent of the GranTurismo that went off the market in 2019. Why should that bother us? That coupe is still beautiful. From what we can tell of the Folgore, the updated lines should make the coming EV even more so. Guests at that putative private event might know what powers the 2+2, but we don't. We know the battery-electric Grecale crossover will get an EV powertrain with 590 horsepower, the much more expensive GranTurismo should handily outdo that even if it doesn't touch the 1,200-hp figure some believe possible. We expect to get that info when the official debut happens in the coming months. The official GranTurismo Folgore launch is scheduled for next year, probably joined sometime in the year by its droptop sibling, the GranCabrio Folgore. It's thought there will be an ICE-powered version for the two-door as well, maybe offering the choice of an unaided 3.0-liter Nettuno V6 or a hybrid centered around the V6 or a 2.0-liter four-cylinder. Certain markets sell the Ghibli sedan with a 2.0-liter hybrid; however, that option is viewed as a long shot for the new GranTurismo.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Maserati teases all-electric 2022 GranTurismo prototype

Maserati trotted out an early prototype of the 2022 GranTurismo this week, teasing the all-electric replacement for its long-running luxury coupe. The spy-style photographs were shot around the streets of Modena, near the automaker's Innovation Lab, Maserati said in the announcement accompanying the shots. The previous-generation GranTurismo was in production for 12 years before finally retiring in 2019.  The new GranTurismo and its drop-top counterpart, the GranCabrio, have been in development since 2019, but it wasn't until more recently that Maserati confirmed that the next-gen two-doors would spearhead (trident-head?) the company's electrification push. We expect it to borrow from Maserati's upcoming Folgore powertrain which can be configured with up to three electric motors for both all-wheel drive and torque vectoring.  "Going electric is the next logical step. We are trying to avoid unnecessary air openings and air outlets, in contrast to some of our competitors that seem to depend on them to convey a message," explained Maserati head of design Klaus Busse in a previous interview with Autoblog. "In our case, it's about the purity of the body. We can further purify the car by reducing the amount of air intakes and air outlets, which will help us tell the design story even better." We expect to learn details of the all-electric GranTurismo later this year.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.