2011 Maserati Quattroporte V8 Certified Cpo Warranty Loaded Low Miles Silver on 2040-cars

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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.

Maserati cutting Ghibli, Quattroporte production on slowing demand

If Maserati is going to meet its ambitious sale targets, it's going to need to grow as fast as its cars can accelerate. But lately, the Trident marque has seen demand for its luxury sedans flattening, if not receding. And now Maserati has had to cut production to avoid overshooting demand. We've been seeing reports of production being trimmed at the company's Grugliasco plant near Turin, Italy, for over a month now. But while earlier reports seemed to indicate the trouble was rooted in supplier issues, the latest suggests that slowing demand is the culprit. According to Automotive News Europe, parent company Fiat Chrysler Automobiles has had to cut the number of shifts at Grugliasco (where the Ghibli and Quattroporte are produced) from 12 per week to 10. "Fiat has told us that workers at the Grugliasco plant will be working for three weeks out of four up until July," union leader Federico Bellono told ANE. "The company is predicting production of about 30,000 to 35,000 cars at Grugliasco this year. I think it will be closer to 30,000." Last year the plant produced 34,000 units, with the sedans accounting for the bulk of Maserati's sales. Of the 36,448 units the Modena-based automaker sold last year, 23,500 were Ghiblis and 9,500 were Quattroportes, with the GranTurismo accounting for just 3,500 units. That's up considerably from the total of 15,400 units it sold in 2013, but is still some ways off from the 50,000 it hopes to reach this year and the 75,000 it aims to achieve by 2018. The arrival of the upcoming Levante crossover, as well as the Alfieri sports car and new GranTurismo, will surely help. But if Maserati is going to reach its ambitious sales targets, it's going to have to find more buyers for its core sedans. Repeated requests made by Autoblog for comment from Maserati have yet to be answered, but we'll be sure to update you if and when relevant new information comes to light. Related Video:

Maserati's Super Bowl spot may have cost more than $700 per car [w/video]

It's no secret that Super Bowl ad time is very, very expensive, with a 30-second spot for this year's game costing around $4 million. For Maserati, which aired a 90-second spot showing off its new Ghibli sedan during this year's game, the price was considerably above $4 million, though.
Automotive News estimates that the spot cost Maserati the equivalent of over $700 for each of the 15,400 vehicles sold last year. That works out to nearly $11 million. It may have paid off, though, as search traffic for Maserati and the Ghibli in particular saw a significant spike following the airing of the stylish commercial, and the brand's total sales were already on target for record levels before the ad aired.
The Ghibli "deserved a wide audience platform such as the Super Bowl," according to Maserati's chief marketing officer, Saad Chehab. The sports sedan is Maserati's most affordable entry, with prices starting around $67,000, moving the brand further downmarket than it's ever ventured before.