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FCA close to paying off debt, outperforming Ford in earnings

FCA boosting output of SUVs, trucks in U.S. Marchionne says the company no longer needs a merger partner FCA expects to pay off all debt this year "There's a very strong likelihood that we will outperform Ford" MILAN/DETROIT — Fiat Chrysler's shift to sell more trucks and SUVs boosted margins yet again in its North American profit center, making Chief Executive Sergio Marchionne confident he can hit most of the final targets of his five-year turnaround plan. FCA has been retooling some U.S. factories to boost output of lucrative sport-utility vehicles and trucks while ending production of some unprofitable sedans. This put the world's seventh-largest carmaker on track to become debt-free by the end of the year, and allowed Marchionne to make good on his promise to close the gap on larger U.S. rivals General Motors (GM) and Ford. "There's a very strong likelihood that we will outperform Ford in terms of operating earnings in 2018," Marchionne told analysts on an earnings call Thursday. "That's something that if I told any of us in the room here that would've been doable five years ago, nobody would have believed it." As the 65-year-old executive prepares to hand over the reins to an internal successor next year, he said the improvements mean the company no longer needed a partner to survive. The carmaker has often been the subject of merger speculation, especially after its unsuccessful 2015 attempt to tie up with GM. "The necessity to find a partner, to try and guarantee our survival, going forward, is put to bed. I mean we're done," Marchionne told analysts on a post-results conference call. North America accounted for 71 percent of earnings last quarter, and profit margins in the region rose to 8 percent from 7.1 percent a year earlier, even as shipments fell 3 percent. Meanwhile Ford's automotive margin for North America slipped to 6.8 percent, down from 8.5 percent a year earlier.FCA trimmed its expectations for 2018 revenues and forecast adjusted operating profit of at least 8.7 billion euros, at the lower end of a previously given range. Analysts said FCA's margin improvement was impressive, and it could be on the cusp of a big boost from its new Jeep Wrangler and Jeep Cherokee models and its Ram 1500 truck. FCA ready to pay off its debt But the Italian-American carmaker expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros in net cash by the end of the year.

Junkyard Gem: 2004 Chrysler PT Cruiser GT

Many claim to hate the Chrysler PT Cruiser now, though better than a million were sold in the United States during the retro-styled little truck's production run (the NHTSA classified the PT Cruiser as a truck, so that's what we'll call it). I didn't start finding many PT Cruisers in junkyards until about 10 years ago, at which point the Chrysler section in just about every big self-service yard became choked with row upon row of them. While most of these cars trucks were ordinary— if cute-looking— transportation appliances, Chrysler built some with turbocharged 2.4-liter engines and five-speed manual transmissions. Here is one of those rare machines, found in a Northern California self-service yard last month. The PT Cruiser was based on the Neon, meaning that it was no sweat to take any high-performance Neon bits and swap them onto its sibling. The PT Cruiser GT didn't quite get the same running gear as the SRT-4 Neon, but it was a genuine factory hot rod. The heart of the PT Cruiser GT was this turbocharged 2.4-liter engine, rated at 215 horsepower in the 2003-2005 version. The naturally-aspirated 2.4 that went into ordinary PT Cruisers made 150 horses in 2004. While a Getrag five-speed manual transmission was standard equipment (at least at the lower-end trim levels) for all but the final year of the Cruiser's 2001–2010 American sales run, nearly every buyer paid what it took to get the optional four-speed automatic. That didn't happen with this car truck, which has the five-speed. The GT also got better brakes, bigger wheels, a stiffer suspension, a lower ride height, and a louder exhaust. What's not to like? Will we miss the special-edition PT Cruisers when they're all gone? This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Referred to as a "small-car alternative" in this TV commercial.

Driving the Jeep J6, Shakedown Challenger and other Mopar concepts

Mopar has been a one-stop-shop for factory-backed performance modifications and accessories on FCA products for a long time now. You want a 707-horsepower engine for your old Plymouth Belvedere? Mopar has you covered with the Hellcrate. Maybe you want a lift and off-roading lights on that newly-bought Wrangler? Mopar can accommodate those wants (or needs, we don’t judge) as well. We get to see some of the companyÂ’s weirdest creations every now and then, but rarely do we get the opportunity to drive the FCA Mopar concepts. ThatÂ’s what made this past Woodward Dream Cruise so special: We got to rip some of MoparÂ’s finest and most recent creations up and down Woodward Avenue. Everything from a 1971 Challenger restomod to the brand-new Easter Jeep Safari J6 concept was in attendance, so letÂ’s get right to it. Mopar Woodward View 6 Photos 1967 Plymouth Hellvedere This car is near the pinnacle of what you can do with off-the-shelf Mopar purchases. It was only a humble 1967 Plymouth Belvedere before Mopar dropped the 707-horsepower supercharged V8 from the Hellcat into the engine bay. Sound ridiculous? Yeah, it is. Other parts of it are new as well, including the disc brakes. Good call. However, Mopar didnÂ’t remove the classic car charm from the entire driving experience. The steering, for example, is surely as slow and inaccurate as it was back in 1967. That doesnÂ’t help matters when youÂ’re trying to put 707 horsepower to the pavement with less-than-ideal rear rubber. Floor it in damn near any gear of the Tremec six-speed, and the front end rises straight up as the rear kicks sideways with the force of many mules. There are no electronics such as traction control or stability control to step in and wrangle the car into submission. But hey, who wants them, anyway? The question remains: Should you buy a Hellcrate engine for your classic? If money were no object, the easy answer is yes. Have at it so long as you love smoky burnouts and excessive amounts of horsepower. Just make sure you know how to deal with that much power before you stick your right foot in it.   Dodge Challenger Shakedown View 15 Photos 2016 Dodge Shakedown Challenger Concept WeÂ’re going downhill in horsepower with this restomod, but the drivability and ease of driving goes way up. Dodge showed this “Shakedown” concept at SEMA awhile back, and as with most concept cars, getting a chance behind the wheel is a special opportunity.