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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.

Ram recalls 30k trucks over faulty turn signals

According to the National Highway Traffic Safety Administration, Chrysler is issuing a recall of 30,197 pickup trucks in the United States, all from the 2013 model year. The affected vehicles are the Ram 1500, 2500 and 3500, all of which were built between September 9, 2012 and March 5, 2013.
The problem affects models equipped with "optional premium taillamps," and according to NHTSA, the turn signal indicator "may not flash at a double rate to give a notification to the driver of a turn signal malfunction." The report states that if a driver is unaware of a problem with the turn signals and continues to use them as normal, other vehicles on the road may not be alerted that the vehicle is turning, which increases the risk of a crash.
Other recall woes have affected the Ram line recently. In April, we reported that Ram 1500 models were being recalled due to an improper adjustment of the parking brake cable, and several thousand Heavy Duty models were being called in for engine covers that do not have as much heat resistance as they're supposed to.

Join Autoblog editors for a full video tour of the 2019 Detroit Auto Show

The 2019 North American International Auto Show might have been a little more quiet than past years, but there were still some pretty major reveals, including the Toyota Supra, new Ford Explorer, Shelby GT500, Subaru WRX STI S209 and Kia Telluride. We also saw some lovely concepts like the Nissan IMs and Lexus LC Convertible. Senior Editor Alex Kierstein, Consumer Editor Jeremy Korzeniewski and Senior Green Editor John Beltz Snyder join me, Associate Editor Reese Counts — with Social Media Manager Michael Dylan Ferrara behind the camera — on a long walk through the show. We discuss cars, poke around the stands, dress a bloody wound and answer your questions in the Facebook comments. For more Detroit coverage, you can check out Autoblog's picks for the best in show, listen to our podcast or look at the best images from all the reveals. Finally, don't forget to watch Editor-in-Chief Greg Migliore hand over our 2019 Technology of the Year award. Related Video: Green Detroit Auto Show Acura Cadillac Chevrolet Ford GM Hyundai Infiniti Kia Lexus Nissan RAM Subaru Toyota Volkswagen Truck Convertible Coupe Crossover Hatchback Minivan/Van SUV Videos Sedan facebook 2019 detroit auto show live