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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.

Marchionne may stay with FCA until 2020

We might get to see Sergio Marchionne and his vast array of sweaters in the auto industry for even longer than expected. The FCA CEO suggested last year that he would retire from the automaker when its current five-year plan was complete in 2018. Now, he has tentatively extended that point out to at least 2020. "I can do this for another five years if you push me, right? Beyond that, I ain't gonna do it, and I don't want to," he said to Automotive News. That would give Marchionne a 16-year career at the top from joining Fiat in 2004 to possibly leaving FCA in 2020. Although, take the CEO's statement with a grain of salt because he has made multiple statements about the timing for his retirement. In 2012, Marchionne said he would only remain in charge until 2015, which is, well, now. Those five years might also go quite quickly because Marchionne is a busy guy with the Ferrari IPO, the attempted merger with General Motors, implementing FCA's five-year plan, and many other projects. He's already considering the next CEO, though. "My purpose in life is to find the Kuniskises of the world, the Manleys, the Biglands, the Palmers," Marchionne said to Automotive News, referencing the heads at Dodge, Jeep, FCA North America, and the company's chief financial officer, respectively. "I told them, 'One of you is going to do what I do one day. I don't know who that is, but one of you is going to do it.'" News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Chrysler Dodge Fiat Jeep Sergio Marchionne FCA fca us Mike Manley reid bigland tim kuniskis

Dodge rolls out Shaker package for 2015 Challenger

Having an awesome Hemi engine under the hood can deliver impressive performance, but for those who lament not being able to see that big V8 engine doing its thing, hidden away under the hood, Dodge offers the Shaker hood on its Challenger muscle car. And it's just released the option for the updated 2015 model. Now available on two engines and three trim levels – including the Challenger R/T and R/T Plus with the 5.7-liter V8 and the 6.4-liter Challenger 392 – the new Shaker hood brings cold air into the engine compartment and lets everyone see that V8 (or at least an appendage thereof) shaking away in plain view. Arriving 45 years after the original Shaker Challenger, the package includes a satin black hood scoop, cold-air intake, conical air filter and optimized air box, along with Shaker graphics inside, out and under the hood. The 2015 Dodge Challenger R/T Shaker and R/T Plus Shaker are available to order now, priced at $35,495 and $38,495, respectively (plus a $995 destination charge), and come bundled with the Super Track Pak. Order books open in March for the 392 HEMI Shaker, which also comes with the Scat Pack, for $42,495 (plus destination and $1,000 gas-guzzler tax if equipped with the manual transmission). Dodge is Shaking Up the Muscle Car Segment Again; Opens Orders for New 2015 Challenger 'Shaker' Models Dodge Celebrates 45 Years of Its Functional "Cold-air Grabbing" Hood Scoop That "Shakes" With the Legendary HEMI® V-8 Engine's Movement - Back by enthusiast demand, Dodge returns the "Shaker" to the Challenger lineup – now expanding the functional cold-air induction hood scoop on two HEMI V-8 engines and three performance-packed models - "King of the Shakers" – all-new 2015 Dodge Challenger 392 HEMI Scat Pack Shaker combines the ultimate combination of 485 best-in-class horsepower and legendary Dodge heritage cues with a functional Shaker hood - Dodge Challenger R/T Shaker and R/T Plus Shaker models feature the legendary 5.7-liter HEMI V-8 engine with unique hood and intake design combined with a functional exposed-element cold-air intake system - New 2015 Dodge Challenger R/T Shaker and R/T Plus Shaker are available for ordering now, with the 392 HEMI Scat Pack Shaker model available for customer orders in March February 13, 2015 , Auburn Hills, Mich.