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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.

Stormtrooper Dodge Charger Episode VII: The Charger Awakens

We spent a day with a Dodge Charger that looks like a Stormtrooper helmet and made a few videos. This one features the Hemi V8 starting up. Read about the car and watch the rest of the videos here.

2020 Dodge Challenger Drag Pak comes solely with supercharged power

The Dodge Challenger Drag Pak has returned for 2020, five years after the last one arrived, and two years after it began development. And while in many ways it looks like past Drag Paks, there are a number of tweaks that should make this the fastest and most capable factory drag car yet from Mopar. Unlike the last model, only a supercharged 354-cubic-inch (5.8-liter for the imperically challenged) V8 is available. Mopar says it's more powerful than its predecessor, though exact horsepower wasn't given. It did confirm that the previous car was capable of a stunning 1,200 horsepower. The engine is coupled solely to a three-speed automatic transmission with a manual shifter. 2020 Dodge Challenger Drag Pak View 17 Photos Supporting the massive engine are many chassis, suspension and driveline enhancements. The independent rear suspension and axles are gone in favor of a solid axle from Strange and a four-link suspension. The front remains stock except for double-adjustable Bilstein shocks. The engine is mounted to a subframe member that's beneficial both to weight distribution and center of gravity. The car gets high-performance brakes and custom Weld Racing wheels with "DRAGPAK" engraved on them. The interior features a welded-in roll cage certified for quarter-mile times as quick as 7.5 seconds. Helping keep the car planted without increasing drag too much are front and rear spoilers from the road-going Challenger, a new addition compared with the previous car. Every Drag Pak car also comes standard with a wheelie bar and parachute. Dodge will only build 50 of these cars, and they'll only be offered as race cars that aren't legal for the street. The cars will be eligible for competing in sportsman classes in NHRA and NMCA drag racing series. Pricing and availability hasn't been set yet, but will be revealed sometime next year.