2015 Ram 2500 Longhorn on 2040-cars

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Fiat Chrysler profit up as it closes in on retiring its debt

MILAN — Fiat Chrysler Automobiles reduced its debt by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. Chief Executive Sergio Marchionne expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros ($5 billion) in net cash by the end of the year. Marchionne has said that forecast does not include any one-off measures, nor the impact of the planned spinoff of parts maker Magneti Marelli, which he hopes to execute by early 2019. The world's seventh-largest carmaker said on Thursday net debt had fallen to 1.3 billion euros ($1.6 billion) by the end of March, well below a consensus forecast of 2.6 billion euros in a Thomson Reuters poll of analysts. FCA said capital spending fell 900 million euros in the quarter due to "program timing," which analysts said implied higher investments for the rest of the year. The Italian-American group said first-quarter operating profit rose 5 percent to 1.61 billion euros, below a consensus forecast of 1.74 billion, as a weaker performance from its North American profit center weighed. Shipments there were higher due to the new Jeep Wrangler and Compass models. But currency moves hit revenues and earnings, and costs related to new product launches added to the pressure. FCA's shift to sell more trucks and SUVs boosted margins yet again in North America to 7.4 percent from 7.3 percent in the same quarter a year ago, although they were down from the 8 percent recorded in the preceding three months. Marchionne, preparing to hand over to an internal successor next year, is close to his goal of ending a margin gap with larger U.S. rivals General Motors and Ford. The 65-year-old has said becoming debt free and being able to compete on a par with U.S. peers would mean FCA no longer needed a partner to survive and could well succeed on its own. The CEO has previously said tying up with another carmaker would help to meet the huge costs in an industry investing in electric vehicles and automated driving. FCA shares fell immediately after the results, but recovered to trade up 3 percent at 19.71 euros by 1150 GMT, outperforming a 0.4 percent rise in Europe's blue-chip stock index. ($1 = 0.8214 euros) Reporting by Agnieszka FlakRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Chevy ramping Silverado incentives after Ram beats it in March

General Motors isn't losing the pickup war without a fight. With the Silverado narrowly falling to third place in the truck segment in March, Chevrolet has announced that it is going to continue its Truck Month pricing through the end of April. In addition to those incentives, some Chevy pickups are going to see even deeper discounts, according to Automotive News.
General Motors Sales Reporting spokesperson Jim Cain says the reason for extending the sale is simple. "It worked," he said. The Silverado's sales were up 6.8 percent for March, which is a big win for a truck with sales down 7.6 percent for the year so far. "Last month we handily beat expectations," he said. Cain attributed the success to having "a simple, straightforward message." He also claimed that the pickup was also able to see growth with lower incentives than competitors. With the weather warming and the economy improving, he thinks the Silverado has the momentum to improve further.
The Truck Month incentives knock as much as $7,541 off some Silverado models, and Chevy is planning even more incentives on top of that in April. "Okay - time to take the gloves off and go back and take back what rightfully belongs to every one of you ... Silverado truck sales," said an email sent to dealers from GM's district manager in the Northeast, received by Automotive News, announcing lower lease rates.

If you can't Ram it, you can plow it

While the auto industry is mostly focused on the would-be Geneva Show reveals, there's another show going on in Indianapolis about commercial work trucks. At the show, Ram revealed it would offer a Snow Plow Prep package for the 2021 Ram 1500. Ram already offered a similar (but better named) package for the 2500 called the Snow Chief Group, so this represents an expansion of availability. The package adds exactly what it says: the basics needed to hook up a snow plow. Under the hood, there's an upgraded 220-amp alternator to handle the load of the extra lights and motors from a plow, plus a wiring harness to plug in said plow. It also removes the active air dam to make room for plow mounts and adds a sliding rear window with defroster. All this adds $195 to the price of your four-wheel-drive Ram, which can be equipped as a Tradesman, Big Horn or Laramie with either the eTorque 5.7-liter V8 or 3.0-liter turbocharged EcoDiesel V6. It's a little less comprehensive than the 2500's Snow Chief Group, which adds the alternator, plus a limited-slip differential, auxiliary dash switches, clearance lamps, off-road tires and a transfer case skid plate, but that package also costs more at $845. One important note for any wannabe Mr. (or Ms.) Plows out there: neither the 1500 or 2500 packages include a plow. For that you'll have to go to an aftermarket plow manufacturer. For example, the Ram 1500 shown above has a Meyer Drive Pro plow, which costs over $5,000. So keep that in mind, or you may find yourself using your family to record a homemade commercial for your plow business just to pay for the huge truck you bought. Related Video: