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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.

Chrysler set to make $266M-investment into 8-speed transmission production

Chrysler will shortly make a significant $266-million investment into its Kokomo, IN transmission factory in a bid to expand production of its eight-speed automatic transmissions. The gearboxes, which are built under license from Germany's ZF Friedrichshafen, have been well received by customers and critics, and according to an SEC filing obtained by Automotive News, the transmissions will eventually find their way to all of Chrysler's rear-drive offerings (Viper and heavy-duty Ram models, aside). According to AN, a Chrysler spokesman says the investment has not been confirmed, but once it is, it'll mark the company's latest in a growing line of investments at the facility. Chrysler has poured $1.5 billion into Kokomo since 2009.

Here's what Ram may name its electric pickup

Ram's answer to the Ford F-150 Lightning and the Chevrolet Silverado EV is due out in 2024. Official details about the electric pickup are few and far between, but a recent trademark filing might have revealed the nameplate that the model will wear when it lands in showrooms. Parent company Stellantis asked the United States Patent and Trademark Office (USPTO) to trademark the name "Ram Revolution" in January 2022. Discovered by CarBuzz, the filing applies to "motor vehicles, namely, passenger trucks" so it's not for a toy or an event. The filing has fueled speculation that Revolution will be the name given to the 1500's electric sidekick. It's a move that would make sense; Ram pledged to redefine the segment, so the pickup will be more of a revolution than an evolution, and the word "revolution" has "EV" in it. Unlike rival Ford, Ram doesn't have an EV-friendly nameplate in its attic that's waiting to be dusted off. Dodge's trucks were lumped under the D-Series umbrella for decades, and its limited-edition models wore names like The Dude, Warlock, and Macho Power Wagon. We suppose that the Li'l Red Express could become the Li'l Green Express, but that territory is arguably best left unexplored. And, following Chevrolet's lead by tacking "EV" after the "1500" nameplate is seemingly not creative enough for the company's marketing department. As always, a trademark filing is not a guarantee that a nameplate will see the light that awaits at the end of a production line. If it was, Volkswagen would sell the Amarok in the United States and the Falcon would again be part of the Ford lineup. Ram hasn't commented on the trademark filing, and it hasn't revealed what it plans to call its first series-produced electric truck. More details should emerge in 2022.