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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.

Small number of 2013 Chrysler 200 and Dodge Avenger models recalled

A small number of units of the 2013 Chrysler 200 (inset) and 2013 Dodge Avenger are being recalled over a broken control valve in the fuel tank assembly. The potential 1,785 sedans were manufactured late last year, and if affected with a broken control valve could suffer from stalling or fuel leakage.
A bulletin from the National Highway Traffic Safety Administration notes that the recall should begin next month, at which time owners can take their cars to dealers for repair free of charge. The full release with more information is just below.

2016 Dodge Viper ACR First Drive [w/video]

The Dodge Viper is not a comfortable car. Livable, yes. The interior is covered in fine materials. But you still climb over a hot door sill to enter the tiny cabin. And the frequency range of the engine's noises seem specifically designed to cause headaches. What happens, then, if you remove all pretense of civility from a Viper and add equipment solely aimed at improving lap times? You would have the 2016 Dodge Viper ACR. In terms of achieving its purpose, this car is a absolute success. In many ways it's also the most honest Viper of the current generation. Prices start at $121,990 (including $2,100 gas-guzzler tax and $1,995 destination), or $32,900 more than the least expensive Viper. In ACR trim, the Viper loses the under-carpet padding, 9 of 12 speakers plus amplifier, carpet and trim from the cargo area, and sound deadening in front of the rear wheel wells. The parts of the interior still covered add healthy amounts of Alcantara or optional carbon fiber. That weight loss is compensated by the addition of go-fast bits like the giant rear wing (or the larger "x-wing" on the Extreme Aero Package), 10-way adjustable Bilstein Motorsports shocks, Brembo carbon-ceramic brakes, a rear diffuser, and a front splitter. Total claimed curb weight is 3,392 pounds in Aero trim (standard ACR trim is 18 pounds lighter), which is within a few stone of the rest of the Viper lineup. The diffuser strakes and leading edge of the splitter are removable, made to be replaced after rubbing on track tarmac and make street driving slightly more practical. Not that you'd want to drive the ACR on the street, with the lack of noise insulation and spring rates twice as stiff as the Viper TA, but it is street-legal. Dodge claims the DOT-approved Kumho Ecsta V720 tires on the ACR allow faster lap times than some race compound tires. Our test was limited to on-track shenanigans at Virginia International Raceway. Which is fitting because we wouldn't have anything good to say about driving the car on the street. The ACR is, essentially, a race car sold in the showroom, although with the Viper's 1 of 1 customization program, your custom build can include as many creature comforts as you like. Lined up in pit lane at VIR, the Viper ACRs for our evaluation blur the air with heat shimmer. All of the test cars have air conditioning, but that shuts off at full throttle with a six-second reset.