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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.

Ram Multifunction Tailgate swings into the pickup truck tailgate fray

Let the tailgate wars escalate, says Ram. Today, the Ram 1500 responds to GMC's Multi-Pro tailgate with its own fancy way to get stuff in and out of the bed. Named the "Multifunction Tailgate," (very creative, we know) Ram decided to give the tailgate a 60/40 split. Before we get into functionality, just take a peek at how it looks closed. On the red Ram Rebel chosen to show it off, you're greeted with a sizable black line running down the entire height of the tailgate in an odd spot. The off-center nature of the split makes for a strange look no matter the angle. We have a feeling that a black truck would solve any kind of visual weirdness going on here. On to the important part: How does it work? For starters, you can use it just like a normal truck tailgate. Drop it down with a release button on the handle, or use the remote release. Ram says it doesn't give up anything in capability or toughness in this down position — it has a 2,000-pound load rating. What makes this tailgate unique is its swinging functionality, though. The tailgate is capable of swinging both sides open like doors. Think Honda Ridgeline, but there are two elements to swing out instead of just one. This allows for closer access to the truck bed. The benefits are obvious: easier loading and unloading, easier washout, and you can even use a forklift to load it up now, too. Both of the barn doors swing out to 88 degrees. It's possible to have just the right or just the left door open, or both at once. Ram Multifunction Tailgate View 10 Photos Ford started this tailgate war with its now simple-looking bed step, but now it finds itself the most back-to-basics offering in the group. GMC officially has the most complicated piece of tech with the various foldouts and all-out size, but Ram is somewhere in the middle with this one. We were fans of the swing-out tailgate on our long-term Honda Ridgeline, so let's hope this one proves just as useful. Ram will be at the Chicago Auto Show with this tailgate, so we'll be sure to give it a thorough shakedown on the show floor. Any 2019 Ram 1500 can be equipped with the tailgate as an option for $995. The center step can be tacked on separately for $295. We're told to expect Rams equipped thusly to roll into dealerships during the second quarter of 2019. Related video:

Huge, pricey trucks haul jobs and profits for the Detroit Three

DECATUR, Texas — Mickey McMaster is on his 12th pickup truck. The 61-year old farm equipment dealer in Decatur, Texas, two weeks ago treated himself to a 2019 GMC Denali for around $69,000 — a reward for long hours at work. "For me this is the Cadillac of trucks, it's a real luxury vehicle," McMaster said. "I've worked my way up to afford a truck like this and it shows that I've earned it." McMaster is the kind of customer General Motors Co is banking on as it plans to add 1,000 jobs at a plant in Flint, Michigan that will build a new generation of its largest pickups. Demand from Texas and other heartland states for big pick-ups is providing a lifeline to many workers the No. 1 U.S. automaker is laying off at plants elsewhere. The Detroit Three automakers and thousands of their U.S. workers are counting on customers like McMaster to keep buying bigger and more luxurious pickup trucks even if overall U.S. vehicle demand weakens this year, as most analysts predict. At Flint, GM will build a new generation of its heavy-duty Chevrolet Silverado and GMC Sierras, including luxury models that are some of the most profitable vehicles on the planet. GM, Ford Motor Co and Fiat Chrysler Automobiles NV's Ram division own the segment and are each doubling down with new or redesigned models launching this year. Sales of heavy-duty pickups in the United States have grown to more than 600,000 vehicles a year, up more than 20 percent since 2013, according to industry data. Prices for luxury models can easily top $70,000. GM on Tuesday celebrated the launch of a new generation of heavy-duty GMC and Chevrolet pickups at the assembly plant in Flint, Michigan, that is now building all such trucks for the company. At the same time that GM is laying off thousands of U.S. workers and planning to shutter five North American factories, Flint is hiring. The plant runs on three daily shifts, six days a week. As the new model's assembly system ramps up, the plant's capacity will increase by more than 25 percent, plant manager Mike Perez told Reuters. The Flint plant plans to add 1,000 workers, more than half of the 1,500 factory workers who have asked to transfer from plants GM has targeted for shutdown as part of CEO Mary Barra's restructuring plan. "We're bringing in 50 to 100 people every week," said Perez. Workers last week were still finishing the job of retooling the Flint factory to build the new heavy-duty trucks as part of a $1.5 billion investment project.