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Fiat Chrysler's Q3 profit boosted by strong North American earnings

MILAN, Italy — Fiat Chrysler Automobiles (FCA) reported a 17 percent jump in third-quarter adjusted operating profit on Tuesday, helped by a strong performance in its key North American market and improving operations in Europe and Latin America. The world's seventh-largest carmaker still makes the lion's share of its profits in North America, so improving, or at least maintaining, its margins there is a key focus. The carmaker reported an 8 percent adjusted operating profit margin in the region, up from 7.6 percent a year ago, despite a drop in sales and shipments. "FCA's profitability in North America remained strong in the quarter despite a weakening market there," a Milan-based analyst said. FCA's profitability compares with an 8.3 percent North America margin reached in the quarter by bigger U.S. rival GM , showing CEO Sergio Marchionne making progress towards his goal of closing the margin gap with GM and the company's other U.S. rival, Ford, by 2018. The company's confirmation of its full-year outlook also pushed shares higher, a trader added. The stock was up 2.8 percent by 1129 GMT, outperforming a 1 percent rise in the European auto index. FCA has been retooling some U.S. factories to boost output of sport-utility vehicles (SUVs) and trucks while ending production of some unprofitable sedans to strengthen profitability as the U.S. car market comes off its peak. The company said a drop in North America shipments due to lower fleet sales and discontinued models was partially offset by higher deliveries of Ram trucks and two models from the Alfa Romeo stable: the Stelvio sport utility vehicle and Giulia sedan. Profitability also improved in Europe, helped by sales of the Stelvio and the new Jeep Compass, and Latin America, while margins at Maserati remained strong at 13.8 percent due to strong demand for its first SUV, the Levante. In a later conference call, investors are looking for hints on the new strategy to 2022 which the company promised to unveil early next year. Chief Executive Sergio Marchionne said earlier this year that FCA would streamline its portfolio and that components businesses, including Magneti Marelli, would be separated from the group, possibly via a spin-off. While FCA confirmed its targets this year, doubts remain about its exposure to a weakening U.S. market, recall costs and potential fines over emissions after it was targeted by European and U.S.

Step inside the secret lab creating Maserati's future

MODENA, Italy – Driving Maserati's raucous GranTurismo MC and the effortlessly quick Levante SQ4 back to back feels like traveling through time. Horsepower doesn't go out of style, but a user interface quickly does, and the GranTurismo looks like it's from another era in that respect. Designers, engineers, and executives are busily orchestrating a transformation that will ensure the 105-year old firm's next leap forward is even more dramatic. Autoblog went behind the scenes in Maserati's Innovation Lab – which has never been opened to outsiders before – to find out how the looming metamorphosis will shape Fiat-Chrysler Automobiles' (FCA) flagship brand. Maserati is on the brink of a ground-up redesign that will take it into new segments of the market, and diversify its powertrain palette. We heard the term electrification used on many occasions during our visit, though company officials resorted to automotive omerta when we asked for additional details. An earlier product plan reveals every upcoming addition to its line-up will be available with an electric powertrain, and there will be quite a few cars to electrify. Historically a small, almost niche automaker, Maserati is on track to release five new models between 2020 and 2023, including a second SUV positioned below the aforementioned Levante, plus replacements for most of its current cars. Technology is playing a significant role in Maserati's renaissance. The company's four-year-old Innovation Lab is home to simulators capable of reproducing six months' worth of wear and tear in two weeks. Engineers can dial in a variety of situations, locations, and road conditions, ranging from a winding country road in France to a busy highway in southern California. They can digitally insert potholes, add rain or fog at the push of a button and remove either just as quickly, and put virtual prototypes on a long list of race tracks around the world, including the Nurburgring. Digital wind tunnels help the team test future cars well before they're built. This approach saves time and money, explained Luca Dusini, the man responsible for Maserati's vehicle dynamics testing and simulation. Making every dollar and each minute count is key to pulling off such an ambitious overhaul. 90% of development work is carried out on the various simulators, according to Dusini. This is significant, because Maserati is developing most of the technology it will pack into its future models from scratch.

Consumer Reports no longer recommends Honda Civic

Consumer Reports annual Car Reliability Survey is out, and yes, there are some big surprises. First and foremost? The venerable publication no longer recommends the Honda Civic. In fact, aside from the walking-dead CR-Z and limited-release Clarity fuel-cell car, the Civic is the only Honda to miss out on CR's prestigious nod. At the opposite end there's a surprise as well – Toyota and Lexus remain the most reliable brands on the market, but Buick cracked the top three. That's up from seventh last year, and the first time for an American brand to stand on the Consumer Reports podium. Mazda's entire lineup earned Recommended checks as well. Consumer Reports dinged the Civic for its "infuriating" touch-screen radio, lack of driver lumbar adjustability, the limited selection of cars on dealer lots fitted with Honda's popular Sensing system, and the company's decision to offer LaneWatch instead of a full-tilt blind-spot monitoring system. Its score? A lowly 58. The Civic isn't the only surprise drop from CR's Recommended ranks. The Audi A3, Ford F-150, Subaru WRX/STI, and Volkswagen Jetta, GTI, and Passat all lost the Consumer Reports' checkmark. On the flipside, a number of popular vehicles graduated to the Recommended ranks, including the BMW X5, Chevrolet Camaro, Corvette, and Cruze, Hyundai Santa Fe, Porsche Macan, and Tesla Model S. Perhaps the biggest surprise is the hilariously recall-prone Ford Escape getting a Recommended check – considering the popularity of Ford's small crossover, this is likely a coup for the brand, as it puts the Escape on a level playing field with the Recommended Toyota RAV4, Honda CR-V, and Nissan Rogue. While Ford is probably happy to see CR promote the Escape, the list wasn't as kind for every brand. For example, of the entire Fiat Chrysler Automobiles catalog, the ancient Chrysler 300 was the only car to score a check – there wasn't a single Dodge, Fiat, Jeep, Maserati, or Ram on the list. That hurts. FCA isn't alone at the low end, either. GMC, Jaguar Land Rover, Mini, and Mitsubishi don't have a vehicle on CR's list between them, while brands like Mercedes-Benz, Volvo, Nissan, Lincoln, Infiniti, and Cadillac only have a few models each. You can check out Consumer Reports entire reliability roundup, even without a subscription, here.