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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.

How good would this look as a Dodge? New Peugeot 408 is a cool EV crossover coupe

Americans have long lusted after the forbidden fruits of the automotive markets: Vehicles offered elsewhere but not sold here in the United States. When Fiat Chrysler Automobiles, former parent to Jeep, Chrysler, Dodge, and others, joined forces with PSA (Peugeot and others), there was hope that Americans could get hold of some quirky French cars as part of the deal. That hasn’t happened, at least not yet. As it turns out, Europeans get just as many boring crossovers as we do, though Peugeot thinks it has a solution with the new 408, an aerodynamic compact crossover with style for days. While we seriously doubt a rebadged 408 would ever show up on our shores, it's easy to imagine how a vehicle looking something like this on the same electrified platform could spawn a viable product for the American market. Squint a bit and "new electric Dodge Intrepid" comes to mind.  Perhaps it shouldn't be surprising that France would come out with a new vehicle that seems well-matched to the American market. Utility vehicles made up 46% of new vehicle sales in France in May, matching the sales numbers of sedans in the country. PeugeotÂ’s banking on the fact that many people want the space and usability of a compact SUV but tire of the styling and ubiquity of the vehicle type. The fastback shape provides a more dramatic design look without completely sacrificing the characteristics that make SUVs so popular.  Peugeot offers a traditional SUV in the 3008, but the 408 is sleeker and more aerodynamic. The automaker says that the 408 “offers a feline stance and unique allure, engineering excellence focused on efficiency and intelligent electrification, as well as the emotions provided by cutting-edge technologies dedicated to driving pleasure and instinctive use." Two plug-in hybrid powertrains will be offered first, producing 180 and 225 horsepower. A standard gas model will also be available with a 130-horsepower engine. All variants get an eight-speed gearbox, and Peugeot says an electric model will come later. No Stellantis brand in the United States currently offers a purely electric vehicle.  Peugeot will build the 408 at its plant in Mulhouse, France, for the European market. The vehicle will go on sale early in 2023 and will later become available in China. Related video: Featured Gallery 2023 Peugeot 408 Green Green Dodge Citroen Crossover Future Vehicles

Dodge and Jeep recalling 895k SUVs for possibility of headliner fires

Dodge and Jeep are announcing recalls of a total of 895,000 Durango and Grand Cherokee models worldwide from the 2011 through 2014 model years. There's a possibility that the wiring in the sun visor can short circuit and cause a fire. It specifically affects vehicles built between January 5, 2010, and December 11, 2013, and there are approximately 651,000 of them in the US, 45,700 in Canada, 23,000 in Mexico and 175,000 outside of North America.
Screws that fasten the sunvisor to the headliner may pierce wires in the visor, if the part has been removed or serviced, potentially causing a fire risk. If the wires short circuit, they could overheat and potentially combust. The automakers report three injuries caused by this defect, and according to the investigation by the National Highway Traffic Safety Administration, "there may be a total of 52 unique fire incidents."
To fix the problem, Dodge and Jeep will inspect the vehicles for suspect wiring, and all of the models, whether damaged or not, will get a new sun visor spacer with a wire guide to stop the possibility of short circuits. According to the automakers' announcement, "this condition is not present in vehicles which have not had the headliner or vanity mirror serviced." They will notify affected owners, and repairs will begin in August.