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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.

330-horsepower Ghibli Hybrid is Maserati's first electrified model

Maserati kicked off its electrification campaign by releasing a hybrid version of the Ghibli, its entry-level model. The sedan gains a mild hybrid system, subtle visual tweaks, and many technology upgrades inside. Unveiled online, the brand's first production-bound electrified car features a gasoline-electric powertrain built around a turbocharged, 2.0-liter four-cylinder engine. It works jointly with a 48-volt belt-driven starter-generator and what the company calls an e-booster that's essentially an electric supercharger. The system's total output checks in at 330 horsepower at 5,750 rpm and 332 pound-feet of torque at 4,000 rpm, and it channels its power to the rear wheels via an eight-speed automatic transmission and a limited-slip differential. Maserati quotes a 5.7-second sprint from zero to 62 mph, and a 159-mph top speed. While fuel economy figures are still being finalized, preliminary estimates peg the Hybrid's fuel consumption at about 27.6 mpg in a combined cycle, a figure which — if accurate — makes it less efficient than the 31.3-mpg diesel model it will replace. Adopting 48-volt technology was the best way to electrify the Ghibli, according to the brand. "We thought about a plug-in option for the Ghibli, but when you put a lot of batteries — and a lot of other stuff — into the car, it adds weight and it's going to jeopardize the performance and the fun-to-drive quotient that is key for Maserati. I'm not saying this to diminish the good points of the plug-in hybrid technology, but it's not the best solution here," Francesco Tonon, Maserati's head of global product planning and marketing, told Autoblog. Tonon pointed out making the Ghibli a hybrid wasn't an excuse to make it dull; it still needed to drive and sound like a Maserati. It's 176 pounds lighter than the diesel-burning model, and it offers better weight distribution because there is a lighter engine under the hood and some of the hybrid components are installed in the back. As for the sound, Tonon proudly explained his team gave the Ghibli a unique exhaust note worthy of the storied trident emblem without resorting to an amplifier, by tweaking the system and adopting resonators. Subtle design changes set the Hybrid model apart from the non-electrified Ghibli.

Maserati returns to Indianapolis to commemorate historic win

This past weekend was Memorial Day weekend, folks, and you know what that means: racing. There was the Monaco Grand Prix for Formula One fans, and back Stateside there was the Indianapolis 500. You might expect to see a name like Maserati pop up at the former more than the latter, but that wasn't always the case.
These days its all about Dallara chassis powered by Chevy or Honda, but over the course of a century there have been plenty of foreign automakers that have won the Greatest Spectacle in Racing. McLaren won it twice in the 1970s, Mercedes and Peugoet won during the race's pre-WWI infancy, and in between them Boyle Racing won it two years in a row with a Maserati chassis and engine.
The car was the Maserati 8CTF "Boyle Special," and its first win came 75 years ago. So to mark the occasion (as well as Maserati's 100th anniversary), the car was brought back to the Indianapolis Motor Speedway for a revival lap. Unfortunately Wilbur Shaw, who won the Indy 500 three times (twice in the Maserati) and went on to be president of the speedway, died in a plane crash the day before his 52nd birthday in 1954. So in his place fellow three-time winner Johnny Rutherford took the wheel of the 8CTF in front of the gathered crowds.