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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.

The 2018 Ram Limited Tungsten Edition is rough-neck luxury

No one makes offshoots of offshoots quite like FCA. Ram and Jeep in particular seem to have limited edition versions of special edition trims. This week, Ram announced the new Limited Tungsten Edition, a special version of the top-level Limited trim. The packaged adds a number of niceties and is available on the Ram 1500, 2500, and 3500 in a number of cab and bed configurations. The high-end truck market is expanding as customers drop luxury SUVs for kitted-out trucks. The Ram Limited Tungsten Edition adds a number of new features inside and out that make the truck more premium than ever. On the exterior, the 1500 model gets a vented sport hood, body-color bumpers, mirrors, door handles, and running boards, and the massive chrome R-A-M grille. The black headlights are pulled from the Sport model, and the wheels from the Limited trim have a unique satin paint. Ram boasts that the Limited Tungsten Edition has the first suede headliner in the pickup truck segment. Blue and indigo-colored accents are found on the instrument cluster, the steering, wheel, doors, and seats. The deep blue and tan interior is quite handsome and is well matched by the real wood trim. Special badging on the interior marks the model. The luxury truck goes on sale later in 2017, with a base price of $55,120 for the 1500 Limited Tungsten Edition model (compared to $54,270 starting for a 1500 Limited). Prices go up as cabs and bed lengths get longer. Related Video: Related Gallery 2018 Ram Limited Tungsten Edition View 9 Photos Image Credit: Ram Design/Style RAM Truck

Chrysler recalling 382k Ram HD diesel pickups, 184k SUVs

Between GM's ignition switches and Takata's airbags, it's been a big year for recalls, but they keep rolling in. The latest comes from Chrysler, which has announced a pair of recalls for certain heavy-duty pickups and SUVs.
The first issue revolves around the 6.7-liter Cummins diesel engine available in the 2010-2014 Ram HD trucks, including 2500 and 3500 series pickups as well as 4500 and 5500 series chassis cabs. In the affected units, "a terminal connector near the fuel heater may be subject to friction-induced corrosion," according to the first of the two announcements from Chrysler below.
The problem could result in overheating and fuel leakage. Chrysler launched its investigation following cases of overheating, none of which actually started a fire, much less an injury or accident. As a precautionary measure, however, Chrysler is instructing service technicians to replace the terminals on an estimated 381,876 Ram units around the world - the vast majority of those (314,704) registered in the US, another 59,432 in Canada, 1,803 in Mexico and 5,937 abroad.