1991 Alfa Romeo Spider Veloce on 2040-cars

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CEO says Volkswagen's buying spree is over

After adding Italian motorcycle icon Ducati to its stable and spending $5.6 billion on the rest of Porsche, Volkswagen CEO Martin Winterkorn says he's done shopping for a while.
"We have enough to do at the moment in taking our twelve brands to where we want to be," Winterkorn tells German newspaper Handelsblatt.

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 4C coupe will be gone for 2019, but the Spider lives on

This post has been updated with confirmation from Alfa Romeo. Not with an expensive bang, but a barely audible whimper: That's the way Alfa Romeo's 4C sports coupe goes out. The slow-selling mid-engined car has been cut from the lineup for next year. An Alfa Romeo spokesperson has confirmed to Autoblog that the 4C coupe will be gone from Alfa's U.S. portfolio after the 2018 model year. It will remain for sale in this country while supplies last, and will still be produced for other markets around the world. View 12 Photos The 4C never sold in enormous numbers during its 2014-on tenure, but monthly sales have slowed down to just a couple dozen cars in the past year. In January, 12 were sold, with October 2017 a particular high point with 45 units delivered. By contrast, the strongest month was January 2015 with 97 4Cs sold. Not a single month has seen three-figure U.S. sales. Those sales figures seem to cover both 4C models, so we can only assume the coupe was the weaker part of those numbers. However, if a 4C is what you want, you don't have to give up on the dream. The open-topped Spider version remains on sale, but Motor Authority reports that it gets a $1,000 price hike for next year, to $66,900; at $55,900 the coupe was $10,000 cheaper than the open version, so those wanting one should act on it quickly. In addition, the racing-oriented Track Package will be unavailable after 2018. That included handling improvements like sturdier sway bars and better shocks, along with sportier wheels and tires. Related Video: Related Gallery 2018 Alfa Romeo 4C Competizione: Geneva 2018 View 11 Photos News Source: Motor AuthorityImage Credit: FCA Alfa Romeo Car Buying Coupe Performance alfa romeo 4c alfa romeo 4c spider