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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.

Alfa Romeo turns it up to 11 with Harrison guitars and Marshall amps

To American enthusiasts, nothing might say rock n' roll quite like a classic muscle car. But that doesn't preclude the Europeans from trying. Volkswagen has partnered with Fender for its premium audio systems, and now Alfa Romeo is teaming up with some rocking powerhouses as well. The Italian automaker is collaborating with Harrison Custom Guitar Works to create the limited-edition axe you see here. The electric guitar is designed around Alfa's iconic grille and uses automotive materials like aluminum and carbon fiber as well as traditional guitar woods like poplar, maple, ebony and Korina. The cross-bars, pickups, tail piece and bridge are CNC-machined from aluminum billet. Only 11 examples will be made, each taking eight months to construct, and priced at GBP4,000 (about $6,800 at current exchange rates). At the same time Alfa has also created a one-off MiTo concept car together with Marshall Amplification. The hatchback packs a custom Marshall JVM 50-watt amp and a pair of 12-inch 75-watt speakers, but has also been decked out with gold-mesh trim on the grille, head- and taillight surrounds, side mirrors, door handles and lower bumper – just like a Marshall stack – while the interior has been worked over with Marshall treadplates, white piping and gold trim. The shift knob has even been replaced by a Shure SH55 microphone. Though the collaborations look like something straight out of This Is Spinal Tap (with a touch of The Graduate thrown in for good measure), they'll both be showcased at a special screening in London of another rock documentary: Sound City, directed by Foo Fighters frontman (and former Nirvana drummer) Dave Grohl. You can, however, check them out in the pair of image galleries and the press releases below. CRAFTED FOR PERFORMANCE: HARRISON CUSTOM GUITAR WORKS UNVEILS ULTRA-EXCLUSIVE ALFA ROMEO-INSPIRED GUITAR - Harrison Custom Guitar Works create the 'Alfa Romeo' – an ultra-limited edition Alfa Romeo-inspired guitar - The 'Alfa Romeo' integrates traditional craftsmanship with performance materials such as carbon fibre and aluminium - Hand-built to order for GBP4,000 with each guitar taking eight months to create Harrison Custom Guitar Works based in Yorkshire (UK) has created an ultra-exclusive electric guitar inspired by Alfa Romeo's design and heritage. The 'Alfa Romeo', is a completely custom-made design that draws inspiration from the style, materials and technology of the Italian brand's road cars.

Alfa Romeo takes over naming of Sauber F1 team

HINWIL, Switzerland — Italian car brand Alfa Romeo will be the only name on its Formula One team partnership with Switzerland-based Sauber this season. The rebranding means 2007 F1 champion Kimi Raikkonen and Antonio Giovinazzi will be driving for Alfa Romeo Racing in 2019. The team was called Alfa Romeo Sauber when it finished eighth in the constructors' standings last year. Sauber says the "long-term partnership ... has been further extended, with the ownership and management of Sauber remaining unchanged and independent." Alfa Romeo drivers won the first two F1 championships — Giuseppe "Nino" Farina in 1950 and Juan Manuel Fangio in 1951 — then left the series after 1985 until returning with Sauber. Related Video: