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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.

Ram Recall for some 2016 Heavy-Duty Pickups | Autoblog Minute

Ram is recalling some of its 3500, 4500, and 5500 heavy-duty pickups. The National Highway Traffic Safety Administration says that certain Rams were manufactured with a misshapen main output shaft. RAM Autoblog Minute Videos Original Video FCA autos ram 5500 4500

2019 Ram 1500: Everything we know

We're not too far away from the sheet being pulled off the 2019 Ram 1500. But over and over, we've had spy shots come in revealing much of the truck before hand. The latest ones have given us a very clear look at the truck's new grille, which boldly does away with the signature crosshair grille. The main iteration we've seen is the one above with the "RAM" logo in the center flanked by split chrome bars. Chrome is used extensively elsewhere, too. The traditional Ram logo has also probably been binned, at least on the exterior, in favor of the broad Ram script currently seen on the Ram Rebel, Laramie Longhorn and Limited trims. Indeed, it seems like a change that the brand has subtly been trying to get its customers ready for, as a quick trip to the company website will show a greater reliance on those trim levels to visually represent each Ram model (including the heavy-duty 2500 and 3500). View 3 Photos Now, there will likely continue to be multiple grille options available as there is today to at least differentiate luxury and off-road models. In the renderings above, we show a version of the grille without those chrome bars. The rest of the truck in the rendering is based on what we saw when some gusty weather unofficially revealed the Ram 1500 to a spy photographer, as seen in the gallery below. View 18 Photos As for everything else we know about the 2019 Ram 1500 ... The Interior View 8 Photos We got pretty good shots of the new Ram interior a few weeks ago. There will be a huge, vertically oriented touchscreen available, possibly with updated UConnect interface software, flanked by hard buttons for the climate control system. A volume knob and redundant multi-purpose control knob will remain, as will the rotary transmission selector. New toggle switches below will be dedicated to various vehicle controls, and we would assume would remain in place throughout the trim level range. Smaller touchscreens will almost certainly be found on lower trims with a traditional array of climate controls between them and the toggles. It'll be steel View 5 Photos An intrepid magnet-wielding spy photographer back in August examined a 2019 Ram test mule's body panels and discovered the majority of them are steel. The hood and tailgate are aluminum, however. There will be a split tailgate option View 18 Photos Speaking of that tailgate, spy photos have shown that it will be available with a split, barn-door-style tailgate option.