2014 Jeep Grand Cherokee Summit on 2040-cars

Auto blog

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.

Stellantis to introduce hybrid versions of Fiat 500e EV, Jeep Compass

  MILAN — Fiat owner Stellantis said on Monday it would build a hybrid version of its 500e small electric car at its Mirafiori plant in Turin, Italy, amid a slowdown in electric car sales. The announcement came after Stellantis CEO Carlos Tavares met in Turin with union representatives who had long been asking the company to boost production at Fiat's historic home with a new high-volume, cheaper model. The factory currently produces the 500e model, but a global slowdown in sales of fully electric vehicles has pushed Stellantis to significantly slow production rates, introducing protracted furlough periods for the plant's workers. "Carlos Tavares recalled the importance of offering affordable and high-quality cars for Italian customers," Stellantis said in a statement. It added that developing affordable cars also depended on external factors including lower energy costs, the development of a charging network for electric vehicles, and long-term subsidies for auto purchases. The move might help the automaker improve its relations with the Italian government, which has often criticized the group for its falling output in the country and for making some of its Fiat and Alfa Romeo models abroad. Stellantis — Italy's only major automaker — and the Rome government are in talks over a plan aimed at restoring the group's production in the country to 1 million vehicles by the end of this decade from around 750,000 last year. "The shared ambition with the Italian government to reach 1 million vehicles produced in Italy by 2030, will need a supportive business environment, currently impacted by electrification uncertainties and strong competition with new entrants to the market," the automaker said. FIM-Cisl union leader Ferdinando Uliano, who attended the meeting with Tavares, said Stellantis told him and others that production of the hybrid 500e would start in the first quarter of 2026 but did not give details about targeted output figures. Automotive News Europe, which first reported the hybrid 500 production earlier on Monday, said Stellantis was aiming for total annual output of 200,000 500s, including 125,000 hybrids, compared with fewer than 80,000 last year. The Franco-Italian carmaker also said it would build a hybrid version of the Jeep Compass SUV at the Melfi plant in southern Italy, and that production of the hybrid Fiat Panda city car made in Pomigliano near Naples could be extended.

Fiat-based baby Jeep spotted testing in US and Europe

Details remain scarce, but our spy photographers have managed to capture the upcoming Jeep B-segment crossover for the first time, testing in both the Alps and in the US. Shown here as a cobbled-together Fiat 500L mule, the new Jeep model is expected to arrive for the 2015 model year and act as a replacement for the current Compass and Patriot models.
According to our shooter, the new "baby Jeep" will share a platform with the Fiat 500X, and both models will be built on the same assembly line in Turin, Italy. We can't tell much from these images, but the added length apparent on this 500L mule would seem to dispel the recent speculation that the new entry-level Jeep model would be sized closer to the Ford Fiesta - since the 500L is already considerably larger than the Fiesta. Powertrain options will likely mirror other Fiat/Chrysler collaborative vehicles like the Dodge Dart, but this Jeep will also try to live up to its off-road roots with an optional all-wheel-drive system.