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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.

US-spec 2017 Alfa Romeo Giulia details revealed

Maurice the Bowler from The Simpsons said, "Better than the act, better than the memory, is the anticipation!" He wasn't talking about the 2017 Alfa Romeo Giulia Quadrifoglio, but he could have been. Recently delayed another six months by parent company Fiat, we're going to do a whole lot more anticipating since the sedan might not make it here until the actual 2017 calendar year. That's a shame to think about because the top-of-the-Giulia line is a thing of beauty, so we'll enjoy it at the LA Auto Show while we have it. Built on the new Giorgio architecture developed in conjunction with Ferrari, its standard elements are a 2.9-liter, twin-turbo V6 with 505 horsepower and 443 pound-feet of torque. That power number is the largest Alfa Romeo has ever let loose from a production car factory, and that torque is available from 2,500 to 5,000 rpm. The fireworks are sent to the rear wheels through a short throw six-speed manual transmission and carbon fiber driveshaft, and 19-inch wheels can convert those explosions into a 3.8-second run from 0-60 miles per hour and a top speed of 191 mph. The Giulia Quadrifoglio gets its grunt massaged by tech like an active front splitter controlled by two electronic actuators, a carbon fiber rear spoiler, torque-vectoring limited-slip differential, and adaptive damping. Brembo four-pot calipers all around hugging iron rotors come stock, you'll find carbon ceramics on the options list providing six-piston Brembos in front and four-piston Brembos in back. The carbon fiber hood and roof, and extensive aluminum bits like the doors and fenders go easy on the scales and help provide a "near 50/50 weight distribution." Cylinder deactivation will help you go easy on the gas, if not the throttle. After the top-dog Giulia gets here its less powerful minions will follow, all of them motivated by a 276-horsepower, turbocharged 2.0-liter four-cylinder. All-wheel-drives comes after launch, too. Interior options will be lengthy and detailed, with a mix of materials, colors, and stitching. For the hardest of the hardcore, Sparco racing seats can be had for the Quadrifoglio. You can read about all of this and much more in the press release below, here's the number you'll want to know now: "around $70,000," the US MSRP we're now being warned about. Because beauty is not cheap, especially when it's quick.

Fiat Chrysler target 850k sales in China by 2018

Behind the vanguard of numerous Jeep models, two Chryslers, a smattering of Fiats and Alfa Romeos and local production through a joint venture with Guangzhou Automotive Group (GAG), Fiat Chrysler wants to increase sales in China more than six-fold by 2018. The group sold 130,000 cars in China in 2013, the aim for 2018 being 850,000 cars.
Ultimately it's expected that the Jeep Grand Cherokee, Cherokee, Wrangler, Renegade, the coming Grand Wagoneer and a sub-Renegade-sized crossover will either be built in or exported to the People's Republic. The Chrysler Town & Country and 300 will join the export list in 2016 and 2018 respectively, according to a report in Automotive News.
With a number of those vehicles not in production or perhaps even envisaged yet, and others not due on the local market until 2018, it will be interesting to see how Fiat Chrysler plans to achieve the target in the specified timeframe. The joint venture with GAG builds two products now, the Dodge Dart-based Fiat Viaggio launched two years ago - supposedly designed just for China - and the just-launched Fiat Ottimo, a hatchback version of the Viaggio. Fiat projected 300,000 Viagio sales in its first two years, that number has been adjusted downward to 94,000 and there doesn't appear to be an analyst alive that sees a good future for Fiat in China's overrun mainstream market. Still, last year's 130,000 group sales in China is a huge jump from 2012 sales of 66,000 units, but less than half the 300,000 units it projected.