2011 Maserati Quattroporte S Sedan 4-door 4.7l on 2040-cars

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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 GranCabrio Folgore Tignanello is a wine-themed drop-top

Maserati is celebrating two of Italy's best-known exports, cars and wine, with a one-off version of the electric GranCabrio Folgore named Tignanello. The convertible was created by the brand's Fuoriserie department to celebrate 50 years of a type of wine called Tignanello. The one-of-a-kind GranCabrio was built for an Italian wine company called Marchesi Antinori, and Maserati explains that its designers were inspired by vineyards. It starts with the paint: the convertible is finished in a wine-esque shade of red called Terra di Tignanello that was created specifically for it. Flat-black 20-inch wheels, gloss-black brake calipers, and a black soft top add a touch of contrast to the look. More vineyard-inspired details are found inside. The seats are upholstered with a blend of beige leather and burgundy Vegea, which is a biomaterial made from the stalks, skins, and pips of grapes — in a way, you're sitting on wine. The stripes on the seats echo the rows of vines in a vineyard, while the dark briar wood trim is inspired by the printing burned into the oak barrels used to age Tignanello wine. You can also learn a thing or two about the wine's history: historical details are lasered into some of the trim pieces, though they're written in Italian. Power comes from three electric motors that draw electricity from a T-shaped, 92.5-kilowatt-hour lithium-ion battery to zap the four wheels with 750 horsepower and 995 pound-feet of torque. Maserati pegs the 5,200-pound GranCabrio's zero-to-60-mph time at 2.8 seconds. If you like wine as much as you like Italian cars, it's not too late to put the GranCabrio Folgore Tignanello in your garage. It will be auctioned off on July 14 at the Festival Napa Valley Arts for All Gala taking place on July 14 in California. The proceeds will be donated to charity. Pricing for the regular-production GranCabrio Folgore starts at about $205,000, but the one-off should sell for considerably more.

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