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Fiat Chrysler profit up as it closes in on retiring its debt

MILAN — Fiat Chrysler Automobiles reduced its debt by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. Chief Executive Sergio Marchionne expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros ($5 billion) in net cash by the end of the year. Marchionne has said that forecast does not include any one-off measures, nor the impact of the planned spinoff of parts maker Magneti Marelli, which he hopes to execute by early 2019. The world's seventh-largest carmaker said on Thursday net debt had fallen to 1.3 billion euros ($1.6 billion) by the end of March, well below a consensus forecast of 2.6 billion euros in a Thomson Reuters poll of analysts. FCA said capital spending fell 900 million euros in the quarter due to "program timing," which analysts said implied higher investments for the rest of the year. The Italian-American group said first-quarter operating profit rose 5 percent to 1.61 billion euros, below a consensus forecast of 1.74 billion, as a weaker performance from its North American profit center weighed. Shipments there were higher due to the new Jeep Wrangler and Compass models. But currency moves hit revenues and earnings, and costs related to new product launches added to the pressure. FCA's shift to sell more trucks and SUVs boosted margins yet again in North America to 7.4 percent from 7.3 percent in the same quarter a year ago, although they were down from the 8 percent recorded in the preceding three months. Marchionne, preparing to hand over to an internal successor next year, is close to his goal of ending a margin gap with larger U.S. rivals General Motors and Ford. The 65-year-old has said becoming debt free and being able to compete on a par with U.S. peers would mean FCA no longer needed a partner to survive and could well succeed on its own. The CEO has previously said tying up with another carmaker would help to meet the huge costs in an industry investing in electric vehicles and automated driving. FCA shares fell immediately after the results, but recovered to trade up 3 percent at 19.71 euros by 1150 GMT, outperforming a 0.4 percent rise in Europe's blue-chip stock index. ($1 = 0.8214 euros) Reporting by Agnieszka FlakRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2015 Dodge Charger R/T Scat Pack Quick Spin

"Scat Pack" is plucked from The Big Book of Dodge Nameplates to describe what is basically the average of the Charger R/T and Charger SRT 392. Unnecessary horsepower always seems to go down better with a dose of heritage. If you think it's a silly name, just be thankful Dodge didn't call it an S/RT or an R/T-S. In previous years, a similar formulation was known as the SRT8 Super Bee. Going by another name, it's still as sweet and wears the same hurried-looking pollinator on the grille. We do wonder: What has displeased him so, and why does he have wings and wheels? The packaging is at least fresh. All Chargers get updates for 2015, including improved interiors and a Dart-on-steroids exterior redo. The new lines work especially well on the more aggressive models, including this Scat Pack car. Like the Super Bee before it, the Scat Pack gets the 6.4-liter engine from SRT 392; for 2015 it gets a slight output boost to 485 horsepower and 475 pound-feet of torque, respective increases of 15 and 5. It does without the SRT three-mode suspension and comes with cloth seats (leather is an option) to keep the price down. The Scat Pack also has slightly smaller Brembo front brakes, narrower wheels, and different rubber. It does, however, cost eight grand less and is just as quick in a straight line. Intriguing. Driving Notes Scat Pack cars get an electronically controlled active exhaust that we'd call hyperactive. It's loud all the time, opening its widest at startup, idle, and when you ask for any appreciable amount of power. Sport mode supposedly makes a difference, but we couldn't discern loud from louder. It's a delicious and appropriate loudness, with a brassy trumpet tone to it, and the engine makes top-fuel noises at full tilt. The squeal of the rear tires can be heard from every stoplight no matter the road conditions. A light touch avoids leaving a mark if you're so inclined. We weren't. When the tires eventually smear into the realm of traction, this thing is pretty quick – hitting 60 miles per hour takes 4.5 seconds. There's also an adjustable launch control mode if you want to cut out some of the wheelspin. The eight-speed transmission shifts smoothly. Quicker, more-palpable shifts are had in Sport mode, but occasionally the transmission still needs a moment to drop down from seventh or eighth when you mash the throttle. Despite its two overdrive gears, this Charger is still loud on the highway. In a good way. Probably.

Vin Diesel's Fast 8 Charger has fake jet power, sounds mean

With filming for Fast 8, the eighth installment in the Fast and Furious franchise, well underway, we've gotten some sneak peeks into the actors' vehicles. Dominic Toretto, played by Vin Diesel, will once again get behind the wheel of a Dodge Charger. The Charger, which was revealed as Toretto's ride in Iceland, has been heavily modified and even features a jet turbine. Sadly, the turbine is purely cosmetic, but the sound from the car's V8 is glorious. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The videos, which were posted to Jadatoys Instagram account, capture the Charger's incredible sound when it starts, revs, and idles. While the V8 sounds amazing, there's no word on what engine lurks behind the Charger's hood. The previous vehicles from Furious 7 featured 500-horsepower V8 crate engines from General Motors, which may make another appearance in the upcoming film. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Despite being a prop, Fast 8's film crew will surely find a way to bring the turbine to life in the movie that, according to Diesel, will come out on April 14, 2017. If the movie is anything like previous ones, it should have over-the-top action and an incredible selection of cars. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Star Wars Stormtrooper Dodge Charger | Beauty-Roll