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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.

FCA goes all-in on Jeep and Ram brands on cheap gas bet

It's no surprise that as SUV and truck sales remain strong in the wake of unusually cheap gas, Jeep and Ram sales are taking off. What is a surprise is that FCA CEO Sergio Marchionne thinks that cheap gas will be a "permanent condition," and feels strongly enough about it to change up North American manufacturing plans. Jeep appears to be the biggest beneficiary of the product realignment. In addition to increasing the sales estimates for the brand worldwide upwards to 2 million units a year by 2018, the brand will get a flood of investment for new product and powertrains. Consider the Wrangler Pickup to be part of the salvo, as well as the Grand Wagoneer three-row announced in 2014 as part of the original five-year plan. The Wrangler four-door will get at least two new powertrains, a diesel and mild hybrid version, in its next generation. That mild hybrid powertrain may utilize a 48-volt electrical system like the one that's being developed by Delphi and Bosch – which the suppliers think will be worth a 10 to 15 percent fuel economy gain at a minimum. Down the road, in the 2020s, the Wrangler could adopt a full hybrid system. The diesel powertrain is planned for 2019 or 2020. The Ram 1500 is also pegged to receive a mild hybrid system, again potentially based on 48-volt architecture, sometime after 2020. Lastly, Jeep and Ram will take over some of the production capacity of existing plants. The Sterling Heights, MI, plant that builds the Chrysler 200 will now build the Ram 1500; the Belvidere, IL, facility that produces the Dodge Dart will take over Cherokee output; the big Jeep facility in Toledo, OH, will be used for increased Wrangler demand. In 2015, according to FCA's numbers, car and van demand went down by 10 percent, but SUV demand went up 8 percent and truck demand 2 percent. Considering that these are high-margin vehicles, FCA can't ignore the math. FCA also won't build any new factories to supplement production to meet demand, but instead are reshuffling production priorities. Think of it this way: FCA is gambling on cheap gas being a permanent part of our lives, at least into the 2020s. By doubling down on SUVs and trucks, the company stands to win big, unless a spike in gas prices changes the landscape. FCA isn't talking about a Plan B, so they're all in. It'll be interesting to see how this plays out.

2021 Ram 1500 TRX Back Seat Driveway Test | Jump that gorge with the kids!

The TRX is the newest and sexiest 2021 Ram 1500. It's also the most powerful by a few hundred horsepower and its eye-popping suspension makes it capable of truly eye-popping things off road. As in both "off the paved road" as well as "we've jumped off the road and will eventually land back down upon it." Thing is, though, that suspension makes the TRX shockingly comfortable when you're back on terra firma. It's downright plush, the result of its four-wheel coil springs with extra-long initial travel. In other words, this is one high-performance vehicle you can get without fear of sneering from the significant other about buying some firm-riding sports thing that makes long journeys miserable. Just don't tell them about the fuel bill.  Besides the ride, though, the TRX shares the same crew cab as any other 2021 Ram 1500. Besides having the same sort of palatial legroom as the crew cabs of any full-size truck, the Ram's goes above and beyond in a number of ways, especially in an upper trim level like the TRX.  First off, it reclines. Though not the only truck to do so (hello Tundra!), this is nevertheless a great feature that fully takes advantage of the immense legroom the crew cab affords. Note that the front seats are as far back as they can go in this picture.  One tidbit: The seatback doesn't just tilt backward. There's no room for that. Instead, the top of the seat basically stays put while the bottom slides forward along with the seat bottom. Airplane seats and the reclining chair in my office work in a similar manner. And, since you're basically pulling the seat forward, the reclining mechanism is located between your legs under the seat bottom.  Lots of power available back here, too. There's a proper house-style outlet so you can plug in a toaster or whatever, along with both USB-A and USB-C ports. Note that there aren't four ports, just two with a choice of port type.  Also, check out those seat controls. Not only do the back seats recline, not only are they heated, but they're also ventilated. That's really cool. Literally! Besides the little shelf you can store a phone while it charges, the center console cupholder unit doubles as a tablet holder. Thoughtful touch. Admittedly, that trim piece is a bit wonky. Only noticing that now in the picture. Didn't see it in person.  Here's another thoughtful touch I'm quite certain is specific to the TRX: Molle straps on the front seatbacks to attach whatever you want.