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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.

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.

Maserati Levante production starting next year, Alfieri could come within 28 months

Maserati is on a roll. The new Ghibli and Quattroporte have been huge successes, and it unveiled the gorgeous Alfieri concept (pictured above) at the 2014 Geneva Motor Show. The next step for the brand is getting the Levante crossover into production.
"We are getting Mirafiori ready for production [of the Levante]. The first bodies are expected for 2015," said Fiat CEO Sergio Marchionne to Reuters in Geneva. He also said that there isn't much keeping the Alfieri off the streets. "The platforms and motors are there. Technically, production could start in 24-28 months," he said. However, Marchionne refused to say whether the company would actually give the concept a green light to be built.
Fiat hopes to be profitable again by 2016, and while its acquisition of Chrysler is certainly going to help, rejuvenating Alfa Romeo and Maserati are also a major part of the plan. In 2013, the Italian luxury brand saw sales more than double to 15,400 vehicles. Maser is still far away from its goal of selling 50,000 units by 2015, but it's quite a start. Fiat bought Maserati in 1993, but business went through a decade or more of doldrums and falling sales. It appears that the century-old brand is finally finding a path forward with some gorgeous new cars.