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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.

2014 Challenger R/T Shaker, Mopar '14 Challenger bring back iconic hood

Enamored of the Dodge Challenger but wish you could get one with a shaker hood? We've got good news, because Dodge and Mopar have teamed up to bring it back.
The 2014 Dodge Challenger R/T Shaker packs the same 5.7-liter Hemi V8 as the standard Challenger R/T, but upgrades the business end with a through-the-hood exposed cold-air intake system. The retro hood scoop protrudes from the center of the hood in satin black (matching the decklid spoiler) to feed the Hemi and shakes with the engine just like the original from 1970. The Shaker model also comes with a Super Track Pak that adds a new steering rack, brake linings, shocks and 20-inch Goodyear Eagle F1 Super Car rubber. You can also shut off the stability management system completely in this car. A series of interior and exterior trim enhancements round out the look. The whole package adds $2,500 to the price of a Challenger R/T Classic for an all-in MSRP of $36,995.
In case that's not enough, Dodge is also offering a limited-edition Mopar Challenger that follows the 2010 Mopar Challenger, 2011 Mopar Charger, 2012 Mopar 300 and 2013 Mopar Dart. Limited to just 100 examples, the 2014 Mopar Challenger gets the same Shaker hood intake, unique graphics and wheels, an enhanced interior and a long list of optional extras from the Mopar parts catalog. Dodge isn't saying just yet how much the Mopar Challenger will cost, but you can bet it will command a considerable premium for the exclusivity alone.

Buick takes top spot in 2022 J.D. Power Initial Quality Study

People, economies, and supply chains weren't the only things continuing to get sick over the past year. The 2022 J.D. Power Initial Quality Study (IQS) is out, showing the average rate of problems per 100 vehicles (PP100) during the first 90 days of ownership increased overall. The average figure for the 32 ranked manufacturers in 2020 was about 166 problems per 100 vehicles. In the 2021 IQS, that dropped to an average of 162. This year, the average jumps to 180 problems. J.D. Power says that figure is a record high over the 36-year history of the study. Buick leapt to the top of the rankings this year with the fewest issues, at 139 problems per 100 vehicles in the first 100 days of ownership. After Dodge became the first American automaker to lead the IQS in 2020, followed by Ram in 2021, this year marks a three-peat for U.S. carmakers. Dodge took second this year at 143 PP100, Chevrolet third with 147 PP100, Genesis the first luxury maker on the chart in fourth with 156 PP100. Between February and May, this year's study gathered responses to 223 questions from more than 84,000 new 2022-model-year car owners and lessees. The questions are designed to zero in on real-world problems new owners encounter with nine categories of vehicle features: Infotainment; features, controls and displays; exterior; driving assistance; interior; powertrain; seats; driving experience; and climate. As has been the case in the past few year, infotainment has proved to be the most problematic bugbear making scores worse. Considering features individually, six of 10 of the worst problem areas dealt with infotainment, causing infotainment's score of 45 PP100 to be 19.5 PP100 worse than the second-placed feature. Consumers ranked getting Android Auto and Apple CarPlay to connect reliably as the most troublesome.  GM didn't just score with Buick, which was one of only nine of the 33 ranked brands to show improvement this year. The conglomerate earned first place with the fewest PP100 among all the automaker groups, and scored the most model-level awards with nine, ahead of BMW with eight and Hyundai Group with three.  This year's study again showed a gap between luxury and mass-market makers, thought to be down to the amount of tech in luxury vehicles that consumers aren't properly informed about or that doesn't act as expected — that latter issue exacerbated by the chip shortage.