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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.

Maserati MC20 supercar will debut in May then hit the race track

In the mid-2000s, Maserati was at the top of its game and at the top of performance car mountain with the Ferrari Enzo-based MC12. Today, Maserati isn't even in the foothills, let alone at the summit. The company is hoping to regain its credibility and status this year when it releases a new "super sports car" that we now know will be named MC20. We first caught a glimpse of the MC20, which is the spiritual successor to the MC12, in late 2019 via four murky photos of a camouflaged test mule. Judging by those photos, it seems the car will not look like any previous concept or model we've seen, which should help establish Maserati's insistence that 2020 marks the start of a new era for the company. However, test mules often have bodies and shapes that do not represent what the eventual production car will look like (the mid-engine Corvette started as this crazy Holden ute). Although it's alphanumeric, the name MC20 has some depth to it. MC stands for Maserati Corse, and 20 indicates the year 2020. But the MC12 wasn't released in 2012, so what's up? Maserati did this as a nod to its first race car, the Tipo 26, which was produced in 1926. Again, new era, back to its roots, etc.  The MC20 will have an all-new powertrain that has been developed and built by and for Maserati. It is unclear what type of powertrain the vehicle will launch with, but Maserati has confirmed the car will eventually be available as an "electrified version," just like every other Trident from here on out. A Ghibli PHEV is expected to kick things off when it arrives this spring, and we've already heard the sound Maserati's electric vehicles will make. As the MC indicates, Maserati plans to return to racing with the MC20, just as it did with the MC12. Following development in the Innovation Lab we recently featured, the MC20 will be built at the Viale Ciro Menotti plant in Modena, Italy.  The MC20 will debut at the end of May in Modena. More details to come. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Maserati details the new, 630-hp V6 that will power its mid-engined MC20 coupe

Maserati is done leaning on former sister company Ferrari for technical support. It has unveiled the six-cylinder engine it designed and will build in-house to power the MC20 supercar that's scheduled to make its debut later in 2020. Ferrari's willingness to develop and/or build engines for Maserati shrank significantly when it split from former parent company Fiat-Chrysler Automobiles (FCA) in early 2016 and became independent. Insiders knew the division would be spun off, so they began designing Maserati's new engine (which is called Nettuno) in 2015 and accelerated the process in 2017. It's a 90-degree, 3.0-liter V6 with a dry sump and a twin-spark, pre-chamber ignition system rooted in racing. In this application, it's twin-turbocharged (the turbos are mounted on the outside of the engine rather than in the middle of it) and it's equipped with both direct and indirect fuel injection.  All told, the 485-pound Nettuno engine develops 630 horsepower at 7,500 rpm and 538 pound-feet of torque between 3,000 and 5,500 rpm. It continues revving to a redline of 8,000 rpm.  Matteo Valentini, Maserati's chief engineer, explained the Nettuno engine will ultimately power the company's entire range of vehicles, though he stopped short of naming the specific models that will use it after the MC20. He added the six-cylinder will "bring Maserati back into the world of racing," meaning its output will likely grow in the not-too-distant future. We'll learn more about the engine when the MC20 makes its debut September 9. What remains to be seen is whether Maserati will replace the V8 available in the Levante and the Quattroporte, or if it will surf the downsizing wave sweeping across the industry. Developed jointly with Ferrari in the early 2010s, that engine makes 590 horsepower when it's bolted in the Levante Trofeo's bay, meaning its output is eclipsed by the Nettuno V6's. Both engines are built around a 90-degree architecture, so the 3.0-liter V6 could turn into a 4.0-liter V8 if it's modular enough to gain a pair of cylinders — and if Maserati sees a market for another eight-cylinder. Featured Gallery Maserati Nettuno 3.0-liter V6 engine Maserati Coupe Performance