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Marchionne wants Maserati to be FCA's new Ferrari

Fiat Chrysler Automobiles is gearing up to spin Ferrari, its most profitable brand, off into another company, and float its stock on the open market. That means it's going to need another profit-driver to generate income for the rest of the group. And according to its chief executive Sergio Marchionne, that mantle will soon be picked up by Maserati. FCA is betting big on Maserati, which has long stood as a niche marque with a limited array of models and low sales numbers. In addition to the recently introduced Ghibli and Quattroporte sedans – now crucially offered with diesels and all-wheel drive – Maserati is preparing to roll out the Levante crossover that promises to do for the Modenese marque what the Cayenne did for Porsche. Due in part to the success of its first crossover, Porsche turned itself from a niche sports car manufacturer into an immensely profitable automaker that was (nearly) capable of buying out the entire Volkswagen Group. Maserati's resurgence is part of a two-pronged assault FCA is plotting against its German rivals. Maserati will be charged with taking on the higher end of the Mercedes, BMW, and Audi ranges (from the E-Class, 5 Series and A6 upwards). Meanwhile, Alfa Romeo will go after the lower end of the luxury spectrum with the new Giulia (aimed at the C-Class, 3 Series and A4) and other models to follow. FCA aims to turn Maserati and Alfa Romeo (along with Jeep) into global brands, broadening the narrow geographical appeal they have held until now. In order to generate enough profit to support the rest of the group as Ferrari has, Maserati will need to find a way to increase its profit margins. Bloomberg reports that Ferraris command a 13-percent profit margin, and while the ten percent that Maseratis list for is still triple that of the FCA average, slow sales are forcing some dealers to offer deep incentives that cut significantly into that margin. Related Video:

2017 Maserati GranTurismo will only come with a hard hat

If you've been waiting for the next generation of the Maserati GranTurismo to come along before you place your order for a four-seat convertible, you'd better change your plans and act fast. Because the latest report coming in from across the pond confirms what we long suspected: that the next GranTurismo will be offered in coupe form only. The news comes from Auto Express, which quotes Peter Denton – Maserati's manager for Northern Europe – as saying that "The GranTurismo will be replaced at the end of 2017, but as a coupe only." That coupe will also be smaller than the current model, but the timeframe means that by the time it's phased out, the current GT will have been on the market for a staggering ten years – based on architecture dating back to 2003, if not earlier. That doesn't mean that Maserati won't offer a convertible altogether, though. By the time the new GranTurismo arrives, the Trident marque will have introduced the Alfieri, which (like the outgoing GranTurismo) will be offered as both a coupe and a convertible. The trend seems to follow a larger industry direction away from four-seat convertibles – particularly under the Fiat Chrysler Automobiles umbrella. Chrysler discontinued the 200 Convertible, and unlike Ford and Chevy that offer convertible versions of the Mustang and Camaro, Dodge does not offer a convertible Challenger. Aside from the fated GranTurismo Convertible (known as the GranCabrio overseas) and the Jeep Wrangler, the only droptop in the entire sprawling group with more than two seats is the Ferrari California – a model whose presence may have factored in to the decision to discontinue the Maser cabriolet as well. The news will undoubtedly come as welcome to competitors like Aston Martin and Bentley, which between them offer several four-seat convertibles including the DB9 Volante, Vanquish Volante and Continental GTC. It remains to be seen, however, whether Jaguar will offer a convertible version of the next XK to stand alongside the smaller F-Type roadster.

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.