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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.

Jeep recalls 92k Grand Cherokee SUVs over electrical issue

According to the National Highway Traffic Safety Administration, Chrysler is recalling 91,559 Jeep Grand Cherokee SUVs from the 2014 model year due to some serious electrical issues. All of the affected models were built between January 8 and August 20, 2013.
The NHTSA report states that, "Due to a disruption of computer communications and loose alternator ground wires, the affected vehicles may experience random illumination of multiple instrument cluster warning lights, loss of cluster illumination and loss of anti-lock brake system (ABS) and electronic stability control (ESC) function." The loss of ABS or ESC would greatly reduce a driver's ability to control the vehicle if things get squirrely, and since these failures would not be illuminated on the dashboard display, drivers would not be warned of the issue, increasing the risk of a crash.
The recall is expected to kick off sometime this month. Chrysler will notify affected Jeep owners and dealerships "will update the ABS and instrument cluster module software and tighten the alternator ground wire," according to NHTSA.

Jurassic Park made a big impact on these Jeep drivers

For a certain cohort of young folks, Jurassic Park is a touchstone film from their childhood. Not only did it play into practically every little boy's love of dinosaurs, the movie included some great action scenes and special effects that still hold up today. In its latest video, The Aficionauto takes a look the Jurassic Park Motor Pool, a California car club with over 40 fans who created replica vehicles from the iconic film.
The club is made up of an interesting cross-section of people. Many of them were Jeep Wrangler fans that already loved off-roading and Jurassic Park, and liked the idea of bringing them together. Like any close-knit club, it ends up being about community and people coming together to share their interests. It's quite a heartwarming video. Also, be sure to stay until the end because The Aficionauto teases a future Jurassic Park-themed vehicle. Scroll down to check out the motor pool.