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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.

Vintage 1921 Alfa Romeo G1 rally car hits RM Sotheby’s

The only known surviving, fully operational example of Alfa Romeo's first commercial car is hitting the auction block at RM Sotheby's at its auction in Phoenix next month, when the 1921 G1 is expected to fetch up to $1.5 million. It's one of only 52 examples, including two prototypes, built between 1921 and 1923, and the only known surviving member of the series, stamped chassis No. 6018. It spent many years on a remote farm in Australia, during part of which the engine was put to work powering a water pump, before undergoing a restoration sometime in the mid-1960s. The G1 is powered by a 6.3-liter side-valve inline six that was said to have been designed with input from Enzo Ferrari, then a driver for the company, and was the largest motor ever fitted to an Alfa. It was based on two cast-iron three-cylinder blocks with fixed cylinder heads, a cylinder bore of 98 millimeters and a stroke of 140 mm to make 71 horsepower and 216 pound-feet of torque, with a top speed of 86 mph. It has a four-speed manual gearbox, which sends power to the rear axle through a single-dry plate clutch and an open driveshaft. The G1 was built to support Alfa Romeo's racing activities and was marketed to the same upscale clientele as Rolls-Royce, Hispano Suiza and others. A stripped-down version of the car won its production class at the Coppa del Garda, according to RM Sotheby's, but the production version suffered for being an expensive fuel guzzler at a time of economic and political chaos in Italy following World War I. So the company exported all 50 production versions to Australia (and possibly to South Africa), where this one was picked up by a Queensland businessman, who later went into bankruptcy and sent the car to a farm in the Outback to hide it from creditors. Ranch workers reportedly found it in the late '40s and used it as a farm runabout before the rear axle failed and the engine was used for the water pump. The remains of the G1 were acquired by a man named Ross Flewell-Smith, who would restore it over 10 years, including finding authentic replacement parts. It would undergo three full restorations in subsequent years.Related Video:

It's finally here! | 2017 Alfa Romeo Giulia First Drive

There's been an Alfa Romeo Giulia-shaped hole waiting to be filled in the American car market for what feels like forever. A couple years ago, Alfa rejoined the US car party with the flawed but hugely entertaining 4C, reigniting passions after a decades-long absence but leading to little in the way of sales volume. That single offering acted only as a tease for those wanting a properly practical, five-person sports sedan. After a true-to-Italy leisurely wait, the Giulia has arrived. The 2017 Alfa Romeo Giulia puts some practical meat on the bone for American drivers bored of the usual Audi A4/Mercedes C-Class/BMW 3 Series suspects. Even better, the new Italian-made sedan comes packed with some heavy artillery, the top Quadrifoglio model offering 505 horsepower and returning a 3.8-second 0–60 mph run as well as a shockingly quick Nurburgring Nordschleife time of 7:32 – which, for the record, makes it the fastest four-passenger production car around the 12.9-mile circuit. For context, that's six seconds quicker than a Lamborghini Gallardo LP570-4 Superleggera, and a full 20 seconds faster than a BMW M4. Our first taste of the highly anticipated Giulia brought us to Sonoma Raceway and some local roads nearby in California's wine country. As we approach the pack of cars warming in pit lane, there is further evidence that the Giulia Quadrifoglio is serious: its Ferrari-derived 2.9-liter twin-turbo V6 sounds snarly and sweet, and cars passing on track report raspy exhaust coughs between shifts. When you go to get in, there's a slight chance of bumping your head on the low-slung roof – wouldn't be an Italian car without an ergonomic quirk, right? The test car appears to be equipped with a full gamut of options: leather across the dash, carbon-fiber trim breaking up the bovine bits, an Alcantara- and leather-covered steering wheel, and the standard eight-speed automatic (the only transmission option for US-market Giulias). This is a distinctly Italian execution, with unique details like green and white top-stitching. But there are also splashes of conventional design throughout, including the analog tach and speedo with a multifunction screen positioned between them, and a steering wheel flanked by tall aluminum shift paddles that are attached to the column and remain stationary.