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FCA close to paying off debt, outperforming Ford in earnings

FCA boosting output of SUVs, trucks in U.S. Marchionne says the company no longer needs a merger partner FCA expects to pay off all debt this year "There's a very strong likelihood that we will outperform Ford" MILAN/DETROIT — Fiat Chrysler's shift to sell more trucks and SUVs boosted margins yet again in its North American profit center, making Chief Executive Sergio Marchionne confident he can hit most of the final targets of his five-year turnaround plan. FCA has been retooling some U.S. factories to boost output of lucrative sport-utility vehicles and trucks while ending production of some unprofitable sedans. This put the world's seventh-largest carmaker on track to become debt-free by the end of the year, and allowed Marchionne to make good on his promise to close the gap on larger U.S. rivals General Motors (GM) and Ford. "There's a very strong likelihood that we will outperform Ford in terms of operating earnings in 2018," Marchionne told analysts on an earnings call Thursday. "That's something that if I told any of us in the room here that would've been doable five years ago, nobody would have believed it." As the 65-year-old executive prepares to hand over the reins to an internal successor next year, he said the improvements mean the company no longer needed a partner to survive. The carmaker has often been the subject of merger speculation, especially after its unsuccessful 2015 attempt to tie up with GM. "The necessity to find a partner, to try and guarantee our survival, going forward, is put to bed. I mean we're done," Marchionne told analysts on a post-results conference call. North America accounted for 71 percent of earnings last quarter, and profit margins in the region rose to 8 percent from 7.1 percent a year earlier, even as shipments fell 3 percent. Meanwhile Ford's automotive margin for North America slipped to 6.8 percent, down from 8.5 percent a year earlier.FCA trimmed its expectations for 2018 revenues and forecast adjusted operating profit of at least 8.7 billion euros, at the lower end of a previously given range. Analysts said FCA's margin improvement was impressive, and it could be on the cusp of a big boost from its new Jeep Wrangler and Jeep Cherokee models and its Ram 1500 truck. FCA ready to pay off its debt But the Italian-American carmaker expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros in net cash by the end of the year.

Hybrid, electric campers take center stage at Germany's motorhome trade show

Car companies from all over the automotive spectrum will make international headlines next week by presenting hybrid and electric cars at the biennial Frankfurt auto show. Camper van and motorhome manufacturers got a head start on the rest of the industry by presenting their green solutions at the Dusseldorf Caravan Salon. The show confirms electrification is present in the leisure segment, too. German camper experts Dethleffs introduced a plug-in hybrid, pop-top camper based on the full-size Ford Transit van. Called Globevan e.Hybrid, it relies on a 126-horsepower drivetrain built around a turbocharged, 1.0-liter EcoBoost three-cylinder engine. The system can power the camper on electricity alone for up to 31 miles. Adventurers who leave with a full tank and a full charge enjoy 310 miles of driving range, which is an impressive figure for the camper van segment. Charging the battery pack takes 5.5 hours when using a regular household outlet, according to the manufacturer, or three hours when hooking it up to a quick-charging station. Globevan production is tentatively scheduled to begin in 2020, and pricing starts at 75,000 euros, a sum that represents approximately $83,000. EFA-S took electrification a step further. Starting with a Fiat Ducato, a van known as the Ram Promaster in the United States, it yanked out the turbodiesel engine and replaced it with a 140-kilowatt electric motor fed by an 86-kilowatt-hour lithium-ion battery pack. The company pegs the camper's driving range at up to 186 miles, a relatively low figure which hardly reflects how most vacationers use their van. The pack takes four hours to charge, Auto Motor und Sport learned. While sustainable, zero-emissions tourism is difficult to argue against, the Ducato-based camper suffers from two serious setbacks. First, the battery pack makes it so heavy that it can't be driven with a regular license. It's considered a heavy commercial vehicle. Second, its 160,000-euro (about $177,000) price tag makes it twice as expensive as a diesel-burning model, and puts it in the same price range as much bigger, more powerful, and more luxurious models. EFA-S will nonetheless move forward with production in 2020, though it plans to build no more than 30 units. The caravan Salon is not only about hybrids and electric cars, however.

Ford hiring 2,200 salaried US workers this year

With its influx of popular new products made in the US, Ford Motor Company has announced that it intends to hire 2,200 new salaried workers domestically this year. This is the biggest increase of salaried workers for Ford in the last 10 years, and it is all a part of Ford's contract commitment to the United Auto Workers union to bring 12,000 new jobs to the US by 2015.
There were no specifics as to where in the US these job openings will be, but Ford did reiterate that it will be spending $773 million on equipment upgrades and capacity expansion at six plants located in southeast Michigan; as a whole, Ford is investing a total of $6.2 billion to its US assembly plants over the next couple years. According to recently appointed president of the Americas Joe Hinrichs, the new jobs will be focused on areas such as engineering, manufacturing and computer software. Ford will post its job openings online at careers.ford.com, and it will also use social media sites like Facebook and Twitter to recruit new workers, including military veterans.
Scroll down for more about Ford's planned job growth as well as how to go about applying for said openings.