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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.

Consumer Reports says Ram 1500 tops fuel economy fight [w/video]

Consumer Reports takes its independent vehicle testing procedures seriously. In an era when we have to question the EPA's official ratings thanks to recent re-evaluations from Ford and Hyundai, an independent voice is important. So, when CR says something is the best, it's worth paying attention to. The Ram 1500 EcoDiesel has "about the same fuel-economy numbers that we typically see in a midsized SUV." – Jake Fisher In this case, CR took a look at the fuel economy of the 2014 Ram 1500 EcoDiesel and found that it came out on top of the fullsize pickup truck pack. The Ram did so with 20 miles per gallon overall and 27 mpg on the highway. CR gave the truck a total road test score of 82. The EPA says that the EcoDiesel 1500 gets 28 mpg on the highway, 20 mpg city and 23 mpg combined. Comparing official EPA numbers, the Ram is also the best among trucks in its class. It's nice when people agree on something. As we know from first-hand, long-distance experience, you can push the 1500 EcoDiesel to 38 mpg. CR found in its own testing that the truck had, "about the same fuel-economy numbers that we typically see in a midsized SUV," said Jake Fisher, CR's director of automotive testing, in a statement. Speaking of midsized SUVs, CR also announced this week that the new Toyota Highlander Hybrid got the top spot in CR's ratings in that category. CR liked pretty much everything about the SUV, saying that the "transitions between electric power and the gas engine are seamless" and that, "the new Highlander also handles better, with a steadier ride and reduced body lean in corners." You can find more at the CR website, in the October print issue of Consumer Reports or in the video and press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. RAM ECODIESEL 1500 TOPS CONSUMER REPORTS FULL-SIZE PICKUP TRUCK RATINGS Redesigned Toyota Highlander Hybrid Climbs to Top of Midsized SUV List Yonkers, N.Y.- The Ram 1500 EcoDiesel climbed to the top of Consumer Reports' full-size pickup truck ratings with an impressive performance in the organization's fuel economy tests. The EcoDiesel (82 point overall road test score) turned in a best-in-class fuel economy of 20 mpg overall and 27 mpg on the highway, to help it score better than the previously tested Ram 1500 V8 (81) regular gas version and Chevrolet Silverado 1500 LT (80).

Chrysler recalling over 200k vehicles across its brands

With more than 200,000 units across six separate recalls and almost all of its brands, it appears that Chrysler has officially jumped headfirst into the recall pool this month. The National Highway Traffic Safety Administration has issued three official recalls for the automaker, and The Detroit News is reporting that the automaker itself has announced three more.
The biggest of the recalls applies to about 120,000 Dodge Charger, Dodge Challenger and Chrysler 300 models for 2011 and 2012 due to faulty wiring harnesses for the seat-mounted side airbags, which could lead to these airbags not deploying in the event of a crash. A little more than 60,000 two-wheel-drive versions of the 2007-2008 Dodge Nitro and 2008 Jeep Liberty SUVs are being recalled due to a heat shield that could cause the driveshaft to break, which if that isn't bad on its own, could then hit underneath where the airbag sensor is mounted, causing the airbags to deploy. Wrapping up NHTSA's recall notices, about 20,000 Jeep Patriot and Jeep Compass models for 2012 are also being recalled due to a problem with the fuel tank transfer tube that could lead to the vehicle stalling. The LX car recall campaign is going into effect this month, while the other two will start next month - all three notices are posted below.
In addition to the official NHTSA recalls, The Detroit News is also reporting that Chrysler is recalling more than 16,000 Ram trucks and a small number of Dodge Dart sedans. Around 6,500 2013 Ram 1500 trucks will be recalled due to an improper adjustment of the parking brake cable from the factory, while 7,000 Cummins-powered 2013 Ram Heavy Duty trucks are being recalled due to an engine cover that does not have as much heat resistance as it is supposed to. Finally, a total of 46 Dodge Dart sedans are being recalled due to a problem with the brake calipers and/or parking brake.