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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 rapidly expanding dealer network

With the new Quattroporte and Ghibli sedans out on the market, and the new Levante crossover and Alfieri coupe on their way, Maserati is making serious headway towards revitalizing its lineup. Now all it needs in order to reach its ambitious sales targets is to expand the network of dealers where they're to be sold. And according to Maserati chief Harald Wester in speaking to Automotive News at the Paris Motor Show, that's exactly what it has in store.
At the end of last year, Maserati had 79 dealerships across the United States. It has already boosted that number to 100 so far this year, but before 2014 is over, it plans to open another 20 to bring the total up to (carry the two, divide by the square-root of Pi)... 120 showrooms.
Globally speaking, Maserati reportedly closed 2012 with around 220-230 dealers around the world, and currently has about 355, but aims to close 2015 with a worldwide network of 450 dealers, representing a doubling of its network in two years' time. Having more than a quarter of those in the US alone is testament to how seriously Maserati takes the American market.

Maserati video sheds a little light on mid-engined MC20 coupe

Maserati is preparing to unveil the MC20, its first new model since the Levante made its debut in 2016. It released a short video to whet our appetite before the mid-engined coupe makes its global debut on September 9. Posted on its official Twitter account, the five-second video does an excellent job of keeping the MC20's design under wraps, but it helps us decode what's lurking under the camouflage. It suggests Maserati stylists don't have a straight-edge in their arsenal of tools, because nearly every surface looks deliciously curved. We also get a quick glimpse at the vents chiseled into the hood, and at the air intakes positioned over the rear wheel wells. Out back, the coupe will feature louvers over the rear window, according to a different video posted on the company's Facebook page. We'd say it's safe to bet the cabin will receive the digital rear-view mirror that's slowly making its way across the Fiat-Chrysler Automobiles (FCA) portfolio. Louvers have never stopped carmakers from hanging a conventional rear-view mirror above the front passengers, but the MC20's represent a golden opportunity for Maserati to flex its technology muscles. Whether they'll be standard or optional is up in the air. Although Maserati is trickle-feeding us clues, earlier spy shots taken near its headquarters in Modena give us a much better look at the MC20. Its proportions reveal its mid-engined layout, and even the camouflage can't hide the low-mounted oval grille with the firm's trident emblem. It's a styling cue that subtly links the MC20 to the firm's past models, like the race-winning Tipo 61 (also known as the Birdcage) built from 1959 to 1961. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Power for the MC20 will come from a 3.0-liter V6 engine developed in-house and twin-turbocharged to 630 horsepower and 538 pound-feet of torque. Called Nettuno internally, the 90-degree six-cylinder will have an 8,000-rpm redline, and it will spawn a track-only engine that will power Maserati's future race cars. Unconfirmed rumors claim the MC20 range will later grow to include a hybrid variant with at least 700 horsepower on tap, and a convertible. Maserati is investing significant resources into the development of electric powertrains, the next-generation GranTurismo will run exclusively on batteries, so we wouldn't be the least bit surprised if Maserati delivers an MC20 without exhaust pipes sooner or later.