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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.

Dodge Challenger returns to Trans Am

NASCAR's Nationwide Series may have switched (in appearance anyway) to muscle cars, but American racing fans know that if they want to see real muscle cars on the street circuits, the only place to look is Trans Am. The all-American racing series is packed with Mustangs, Camaros and even Corvettes. The one thing it's been missing is the Dodge Challenger, but now SRT Motorsports has announced it's bringing its muscle car back where it belongs.
Rather than waiting until next year, the Miller Racing team is switching mid-season to the new Dodge Challenger SRT Trans Am racer you see here, just in time for this weekend's race at Mid-Ohio. And not just that - it's lined up a compelling pair of drivers to pilot it, as well.
The No. 11 car will be driven by Trans Am legend Tommy Kendall, a four-time series champion who's been off the grid since 2004. Backing him up in the No. 1 Challenger will be none other than Cameron Lawrence, the driver who has won five out of six races in the Chevy Camaro so far this season, losing out only once to American racing scion Adam Andretti.

2015 Dodge Challenger SRT Hellcat [w/videos]

Darrell Waltrip once said, "If the lion didn't bite the tamer every once in a while, it wouldn't be exciting." The sentiment behind that aphorism is causing my adrenal gland to wake up as Dodge and SRT drivers and engineers - somber-faced to a man - give me the track talk that will precede my driving the 2015 Dodge Challenger SRT on the circuit at Portland International Raceway. PIR might not be Daytona, and the 707-horsepower Challenger Hellcat might seem tame to a legend like ol' Jaws, but there's a not-small part of me that's thinking about how hard Dodge's fire-breathing kitty might bite.
Just a few hours previous, I'd gotten behind the wheel of the Hellcat for the first time, letting its hyperbole-spitting, supercharged V8 Hemi pull me yieldingly through Portland's morning commuter traffic. Lulled into a cocky certainty by the Challenger's good manners at low speed, I drove the throttle just a hair too deep, too fast when I ran on to the highway ramp. For just an instant the rear tires were utterly drenched in torque, and the back end of the big Dodge loosened up like a drift car on a wet track. Throttle steer lives at the fleeting whim of your right foot in this car.
It was no big thing to lay off the gas and pull the Hellcat back in line as I entered the highway, but the incident did get me to thinking: What will this car do to me on a road course?