Low Mileage, Original, Rust Free, No Reserve on 2040-cars

Auto blog

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.

Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

2015 Alfa Romeo 4C Spider First Drive [w/video]

New cars are getting, to quote Alice during her Adventures in Wonderland, "curiouser and curiouser." Take the Alfa Romeo 4C, a car from a mass-market European brand with supercar-like construction at a price that starts under $55,000. The exotic looks on the outside are countered with an almost pre-war era lack of frills on the inside, but the 4C drives like a street-legal go-kart when you put it to work. That price is either a bargain or a ripoff, depending on your priorities. This oddity now has a topless variant in the 2015 Alfa Romeo 4C Spider, which is almost identical to the coupe at first glance. On the stat sheet, two numbers separate this open-top car from its closed-cabin sibling. The first is ground clearance, which goes down in the Spider: 4.4 inches here compared to 4.5 inches in the coupe. The second number is 22. That's how many pounds the Spider gains by losing its roof, for a claimed weight of 2,487 pounds. Alfa Romeo senior product planner Fabio Migliavacca says none of that mass comes from body reinforcement. The 4C's carbon fiber tub was engineered for convertible duty from the go. Alfa Romeo engineered the 4C's carbon fiber tub to handle convertible duty from the beginning, so the roof on the coupe – made of the same sheet-molded compound as the rest of the body – isn't a structural member. The Spider's canvas soft top accounts for an extra 14.3 pounds, making it heavier than the roof on the coupe. And yes, you read that correctly, the Spider comes standard with a canvas top. The optional carbon fiber roof panel costs $3,500. In fact, the options list is so full of woven composite accessories that, during the presentation, one journalist asked if the $1,595 charge for destination and handling could also be had in carbon fiber. The other 7.7 pounds comes from small alterations. The Spider gets larger mufflers – 11-liter cans here, as opposed to eight liters on the coupe - for a richer exhaust note. The car's rear haunches are reshaped to be fuller than those on the hardtop, and the engine cover is now a single solid piece, without the coupe's revealing clear insert. A few changes on the Spider will come to the coupe, including a pair of cellphone pockets, one next to each seat. The awful Parrot stereo goes away, replaced by a more friendly Alpine unit. Some coupe options are standard features on the Spider, like the full leather interior. Two of the six seat styles and four of the six available wheels are exclusive to the Spider.