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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.

2020 Ram 1500's new EcoDiesel horsepower and torque revealed

Following on the reveals of Ford and GM's light-duty diesel full-size pickup truck engines, Ram has finally revealed its second-generation EcoDiesel V6 for the 2020 Ram 1500 and 2019 Ram 1500 Classic. The engine is once again a 3.0-liter V6, but it now makes 260 horsepower and 480 pound-feet of torque. That's an increase of 20 horsepower and 60 pound-feet of torque over the previous engine. Ram notes a number of changes were made to achieve these numbers, including adding a water-cooled variable geometry turbo, reducing compression ratio from 16.5:1 to 16:1, adding lighter pistons, revising the intake ports, and using a new fuel injection system and exhaust gas recirculation system. Those numbers also put the new Ram diesel at the top of its class for torque. Just behind it is the 3.0-liter inline-six in the 2020 Chevy Silverado and GMC Sierra that makes a bit more power at 277 horsepower but less torque at 460 pound-feet. Then there's the 2019 Ford F-150's 3.0-liter V6 that makes 250 horsepower and 440 pound-feet of torque. The Ram engine also hits peak torque at 1,600 rpm, which is sooner than the Ford engine at 1,750 rpm. The Chevy engine's torque arrives even earlier than both at 1,500 rpm. The Ram's maximum towing capacity of 12,560 pounds also tops the F-150 diesel's 11,400 pounds. There are still a number of unknowns regarding the new EcoDiesel engine, though. Ram hasn't announced payload capacity, pricing or fuel economy for the engine. We expect fuel economy will be slightly improved over its predecessor's 20 mpg in the city and 27 on the highway. But we don't know if it will match or surpass the F-150 diesel's 22 mpg in the city and 30 on the highway. All these numbers should be announced closer to the engine's release window of fourth quarter of 2019. The engine will also be available in every single trim and configuration of the 2020 Ram 1500 including the Rebel, which used to be a gas-only trim. The engine will even be available on the 2019 Ram 1500 Classic. This should also be the engine that will soon appear in the Jeep Gladiator and Wrangler.

Stellantis reports surprising 2020 results, is 'off to a flying start'

MILAN — Low global car inventories and cost cuts should boost Stellantis's profit margins this year, though a shortage of semiconductors and investments in electric vehicles could weigh on results, the newly-formed automaker said on Wednesday. The forecast came as Stellantis, created by the January merger of Peugeot-maker PSA and Fiat Chrysler (FCA), reported better-than-expected results for 2020 that sent its shares up around 3% in morning trading. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies (from the merger)," Chief Executive Carlos Tavares said in a statement. Stellantis is the world's fourth largest carmaker, with 14 brands including Fiat, Peugeot, Opel, Jeep, Ram and Maserati. It said 2021 results should be helped by three new high-margin Jeep vehicles in North America and a strong pricing environment there. The U.S. market has driven profits for years at FCA and starts off as the strongest part of Stellantis. The group's guidance assumes no more significant lockdowns caused by the global COVID-19 pandemic, which shuttered auto plants around the world last spring. Stellantis should also get a lift as its starts to implement a plan aimed at delivering over 5 billion euros a year in savings, without closing any plants. Tavares has also pledged not to cut jobs. But a pandemic-related global shortage of semiconductors, used for everything from maximizing engine fuel economy to driver-assistance features, could hurt business. Auto industry executives have said the shortage should ease by the second half of 2021. Stellantis said its "electrification offensive" could also weigh on results this year. Automakers are racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030. Stellantis plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025, broadly in line with plans at top rivals such as Volkswagen and Renault-Nissan, although Stellantis has further to go to meet that goal. The carmaker is targeting an adjusted operating profit margin of 5.5%-7.5% this year. That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.