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FCA earnings improve in first quarter

Following on the recent global financial releases from Ford and from General Motors for the first quarter of 2015, FCA is now putting out its own numbers, and things look quite good for the company. The automaker posted adjusted earnings before taxes and interest of $895 million, a 22-percent jump from Q1 2014, and net profits of $103 million, a $296-million boost from last year. Revenue was also up 19 percent to $30 billion. Despite the favorable figures, actual worldwide shipments fell slightly by 2 percent to 1.1 million vehicles. FCA is giving some credit for these strong Q1 results to the automaker's performance in the NAFTA region. Shipments grew 8 percent to 633,000 vehicles, and net revenue jumped a strong 38 percent to $18.1 billion. Adjusted earnings reached $672 million, compared to $425 million in 2014. The company especially praised the Jeep Renegade, Chrysler 200, and Ram 1500 for helping the bottom line. The numbers could have been even higher, but the corporation admitted that "higher warranty and recall costs" partially drug things down. For the full year in 2015, FCA expects to ship between 4.8 and 5 million vehicles worldwide and post up to $5 billion in adjusted earnings. There should be about $1.3 billion in net profit, as well. FCA CLOSED Q1 WITH NET REVENUES OF ˆ26.4 BILLION, UP 19% AND ADJUSTED EBIT AT ˆ800 MILLION, UP 22% 30/04/15 FCA closed Q1 with net revenues of ˆ26.4 billion, up 19% and adjusted EBIT at ˆ800 million, up 22%. Net industrial debt was ˆ8.6 billion, up ˆ0.9 billion. Full year guidance confirmed. Worldwide shipments were 1.1 million units, 2% lower than Q1 2014, reflecting strong performance in NAFTA and weak market conditions in LATAM. Jeep's positive performance continued with worldwide shipments up 11% and sales up 22%. Net revenues were up 19% to ˆ26.4 billion (+4% at constant exchange rates, or CER). Adjusted EBIT was ˆ800 million, up ˆ145 million from Q1 2014, with all segments except LATAM posting positive results. The positive impact of foreign exchange translation was offset by negative impacts at a transactional level. Net profit was ˆ92 million, up ˆ265 million compared to the net loss of ˆ173 million in Q1 2014. Net industrial debt was ˆ8.6 billion, up ˆ0.9 billion from year-end mainly due to timing of capital expenditures and working capital seasonality. Liquidity remained strong at ˆ25.2 billion. The Group confirms its full-year guidance.

Fiat Grande Panda is a compact hatchback with a serious attitude

Earlier in 2024, Fiat announced plans to turn the Panda — which has been one of its smallest and most affordable models since 1980 — into a full range of models. The first member of the extended Panda family is a compact, crossover-like hatchback called Grande Panda. Stretching to 157 inches long, the Grande Panda stands out with angular styling and a futuristic-looking front end. There's a tiny bit of retro hiding in that 22nd-century-like stare: The Fiat logo is offset to the side, like it was on the pre-facelift version of the original Panda. The black plastic cladding, the skid plate-like trim on the front bumper, and the roof rails give the hatchback a rugged look, while the rear lights create another visual link to the first-generation Panda. What's certain is that the Grande Panda looks like nothing else on European roads. We haven't seen the interior yet. We're told it seats five, and we hope the cabin will be at least as distinctive as the exterior. Technical specifications haven't been released. Fiat noted that it built the Grande Panda on a multi-energy platform to offer both hybrid and electric variants. Four-wheel-drive is a big part of the Panda's heritage, but we're guessing the Grande will settle for front-wheel-drive. Fiat will release more details about the Grande Panda in the coming months. The model will be sold in Europe, in the Middle East, and in Africa, but nothing suggests we'll see it in the United States. As for the current, third-generation Panda, it's sticking around for the time being. It was renamed Pandina in February 2024, and it's tentatively scheduled to remain on the market through 2027. It's old by car standards — it made its debut at the 2011 Frankfurt auto show. It remains one of the cheapest new cars in Europe and one of Fiat's best-sellers, however.

Fiat Chrysler pressing on with Magneti Marelli spinoff amid sale rumor

MILAN — Fiat Chrysler (FCA) is pressing ahead with the spinoff of its parts maker Magneti Marelli, a spokesman confirmed in Wednesday after reports investment firm KKR was in talks to acquire the unit. "FCA is pursuing a plan to separate the Magneti Marelli business ... it will evaluate bona fide proposals for alternative transactions that may be in the best interest of the Company," the spokesman said in an emailed statement. The company would not comment on market rumors, the statement added. Earlier on Tuesday the Wall Street Journal reported that global investment house KKR was in talks to acquire the unit and that a potential sale price could exceed the 3.23 billion euros value at which some analysts valued it. In mid-July, FCA kicked off the process to register the business in the Netherlands and list it on the Milan stock exchange. Reporting by Stefano RebaudoRelated Video: Image Credit: Getty Earnings/Financials Chrysler Fiat Parts and Accessories FCA magneti marelli