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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.

2017 Ram 2500 Power Wagon demos off-road abilities in Chicago

In today's world, big budget auto show debuts involve lots of music and video, with a car docilely rolling onto the stage. Practical demonstrations of abilities are few and far between. Ram didn't get that memo, though, and decided to give attendees at the 2016 Chicago Auto Show a taste of just what the new Power Wagon can do off road, showing some extreme suspension articulation before crawling the big pickup down a flight of stairs. It was an impressive display for the facelifted pickup, which retains all the things that made the Power Wagon such a monster while improving on its overall aesthetic. The two-tone styling looks great in person, and even the controversial grille – which many of our readers cited as being a problem in our debut post – looks nicer in the flesh than in static shots. The upholstery, too, with its tire-tread imprints looks better in real life, and we're digging the Power Wagon and Ram logos sprinkled around the high-riding thrones. You can read a deeper dive into the new new truck in our introduction post from early this morning. We've also got a smattering of images of the new Power Wagon on the show floor and a video of the flashy debut in Chicago. Have a look. View 18 Photos Show full PR text New 2017 Ram Power Wagon – The Ultimate Off-road Truck Benefits From New Design New 2017 Ram Power Wagon front grille design styling super-sizes Ram 1500 Rebel Tops Ram – "The Off-road Truck Leader" – 4x4 lineup New colors, lighting, wheels, grilles and legacy graphic takes cues from 1979-80 "Macho Power Wagon" New interior colors and materials, including Diesel Gray and Black seats with tire tread-matching pattern Unique 17-inch wheels and 33-inch Goodyear Wrangler DuraTrac tires pull dirt from its comfort zone Standard 6.4-liter HEMI® V-8 with best-in-class 410 horsepower and 429 lb.-ft. of torque features unsurpassed powertrain warranty – five years/60,000 miles Unique Ram "Articulink" front suspension system incorporates high movement joints and sway-bar disconnecting system, allowing for additional flexibility and axle articulation Ram engineering continues to lead heavy-duty segment innovation with five-link coil rear suspension to deliver best-in-class ride and superior axle control Ram Power Wagon features standard front and rear electronic-locking differentials for true four-wheel drive and maximum traction Standard Warn 12,000-lb.

2023 CES Editors' Picks

Over the past few years, it has become more and more clear that the Consumer Electronics Show is a car show. And this year that reality is more clear than ever. Not only did established automakers show off seriously important vehicles, but a traditional electronics company brought a car that gives an idea of its intents (with the help of establishment car company). With so many car reveals, we had to rank our favorites. Our picks for this show are entirely electric. Or at least, they are on paper, since many are concepts. Considering the name of the show, it would be a little strange if they weren't. In fact, not only are many of our favorites concepts, they all are save for one. See how they shook out below. VW ID7 camo View 28 Photos 5. Volkswagen ID.7 "The ID.7 definitely got lost in the crowd at CES. That it was camouflaged definitely didn't help, even if that camo was electroluminescent (BMW trumped it big time with its color-changing Dee). Nevertheless, this is a close-to-production hatchback-ed sedan, not unlike today's Arteon, with an extra-long wheelbase courtesy its EV architecture. It should be a solid answer to the Tesla Model 3 and Hyundai Ioniq 6, and even if people obviously prefer SUVs now, VW says there is still a market for sedans. I know I'd probably prefer one." –Senior Editor, West Coast and Reviews, James Riswick Peugeot Inception concept View 12 Photos 4. Peugeot Inception "It's not often that show debuts surprise us. While Peugeot teased the Inception ahead of CES, its unveiling seemed almost incidental. But just look at this thing; it's like an electric French Mustang with someplace important to be. I don't buy into the stupid 'It's not a wheel!' thing that Peugeot CEO Linda Jackson described as providing a video-game-like drive experience, but that bit of silliness aside, this is a really promising design study. Give us more of these and fewer tall boxes, please." –Associate Editor Byron Hurd Afeela prototype from Sony Honda Mobility View 11 Photos 3. Afeela by Sony Honda “Ever since Sony showed off an impressively put-together concept car at CES a few years ago, IÂ’ve been anticipating the companyÂ’s next move. Apparently, that next move is “Afeela.” No, I donÂ’t love the name. The specs from SonyÂ’s original concept car give me hope that this prototype sportback (itÂ’s a hatchback!) will be fun to drive, though.