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FCA earnings improve in first quarter

Following on the recent global financial releases from Ford and from General Motors for the first quarter of 2015, FCA is now putting out its own numbers, and things look quite good for the company. The automaker posted adjusted earnings before taxes and interest of $895 million, a 22-percent jump from Q1 2014, and net profits of $103 million, a $296-million boost from last year. Revenue was also up 19 percent to $30 billion. Despite the favorable figures, actual worldwide shipments fell slightly by 2 percent to 1.1 million vehicles. FCA is giving some credit for these strong Q1 results to the automaker's performance in the NAFTA region. Shipments grew 8 percent to 633,000 vehicles, and net revenue jumped a strong 38 percent to $18.1 billion. Adjusted earnings reached $672 million, compared to $425 million in 2014. The company especially praised the Jeep Renegade, Chrysler 200, and Ram 1500 for helping the bottom line. The numbers could have been even higher, but the corporation admitted that "higher warranty and recall costs" partially drug things down. For the full year in 2015, FCA expects to ship between 4.8 and 5 million vehicles worldwide and post up to $5 billion in adjusted earnings. There should be about $1.3 billion in net profit, as well. FCA CLOSED Q1 WITH NET REVENUES OF ˆ26.4 BILLION, UP 19% AND ADJUSTED EBIT AT ˆ800 MILLION, UP 22% 30/04/15 FCA closed Q1 with net revenues of ˆ26.4 billion, up 19% and adjusted EBIT at ˆ800 million, up 22%. Net industrial debt was ˆ8.6 billion, up ˆ0.9 billion. Full year guidance confirmed. Worldwide shipments were 1.1 million units, 2% lower than Q1 2014, reflecting strong performance in NAFTA and weak market conditions in LATAM. Jeep's positive performance continued with worldwide shipments up 11% and sales up 22%. Net revenues were up 19% to ˆ26.4 billion (+4% at constant exchange rates, or CER). Adjusted EBIT was ˆ800 million, up ˆ145 million from Q1 2014, with all segments except LATAM posting positive results. The positive impact of foreign exchange translation was offset by negative impacts at a transactional level. Net profit was ˆ92 million, up ˆ265 million compared to the net loss of ˆ173 million in Q1 2014. Net industrial debt was ˆ8.6 billion, up ˆ0.9 billion from year-end mainly due to timing of capital expenditures and working capital seasonality. Liquidity remained strong at ˆ25.2 billion. The Group confirms its full-year guidance.

Marchionne says electric Maserati may debut by 2019

Ask Sergio Marchionne's opinion on the prospects of making a profit on producing electric-vehicle versions of Fiats or Chryslers, and he's likely to shoot the concept down. Bring that price point up into Maserati range, though? That apparently may be in the works, according to Bloomberg News. The famously EV-averse Marchionne says the company may start work on an electric vehicle for its hoped-for Maserati Alfieri model. Additionally, a hybrid version of the Maserati Levante SUV may also be developed during the next few years. The EV may be available by 2019, while the hybrid may start sales shortly thereafter. Meanwhile, Fiat may also be working on an electric city car, which would be its first in Europe. The key, of course, is the price point. The Maserati brand means that a new EV may be a legitimate competitor to Tesla Motors because such a badge could approach the $100,000 threshold where the Tesla competes. Marchionne has long professed that it's nearly impossible to make money on electric vehicles. Earlier this month, Marchionne, speaking with UK's Car magazine, suggested that Tesla Motors is the best example of this theory, because, for all the demand for and growth of the California-based company, Tesla has never made an annual profit. And while the Fiat 500e electric vehicle has been feted for its style and performance, Marchionne has always insisted that the model was produced strictly to comply with California's zero-emissions policy, and that the company loses about $10,000 on each 500e it sells. Related Video: Green Chrysler Fiat Electric Sergio Marchionne

You can own Don Draper's 1964 Imperial Crown Convertible

In AMC's Mad Men Jon Hamm's character may have been a jerk, but Don Draper's 1964 Imperial Crown Convertible is fantastic. One of just 922 droptop Imperials built for 1964, Draper's land yacht is up for auction as part of a broader sale of Mad Men props. Alongside stuff like Roger Sterling's Ray-Bans or Draper's copy of Dante Alighieri's Inferno, the big Imperial is the undisputed star of the show. According to the auction page, fewer than 200 exist today, meaning that even without its Hollywood provenance, this is an exceedingly rare vehicle. Under hood, there's a 413-cubic-inch V8 wedge mated up to a push-button, three-speed TorqueFlite automatic transmission. Typical of a big, 1960s luxury vehicle, the Imperial gets power steering, power brakes, and power windows. Even the roof is electric. Cosmetically, the auction site claims Draper's convertible was repainted once, 20 years ago, going from a "drab" Roman Dark Red to today's California Red. In the interior, the only change are new carpets. This isn't the first time Draper's Imperial has crossed the auction block. It sold at a Palm Springs auction in February 2015 for just $23,625, before a St. Louis dealership listed it on eBay for $39,900 less than a month later. That online listing has long since disappeared, so there's no telling if it actually sold or not before being listed as part of this latest auction. Regardless, with fewer than 1,000 made, fewer than 200 in existence, a credit on a critically acclaimed TV show, and a history of reasonable sale prices, this is one big, 1960s land yacht worth considering. The auction starts on June 1 and runs through June 15. Related Video: