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FCA Q2 Earnings:Net Cash has been reached,NAFTA margins decline

Manley stated on the Conference Call RAM 1500 won't reach full production until Q4.
He sticks to to Chrysler 10% EBIT margin target for 2018.
 
BTW: as I did on "the other site" I will provide a Play-By-Play of the Conference Call as it goes on.
 
FCA's tax rate was at 28% significantly higher than they (the company)expected (low 20's%) due International adjustments (Mexico), but stated in the second half they taking actions to assure a 19% tax rate for second half of 2018.
 
Jeep is at 129 days of inventory in China with negative mix.
 
Maserati EBIT fell to €2 million, Palmer and Manley both called it a bad quarter for Maserati with the need to manage inventory.
 
Palmer also sticks to "Chrysler"/NAFTA 10% EBIT margins, but adds it sole dependent on higher RAM production.
 
RAM 1500 is currently at 80% percent of cycle according to Manley.
 
It sounds like Manley and Palmer are not in the same area which creates a gap in audio.
 
Manley praises the FIAT brand in South America, and talked about Jeep as the premium brand in South America with seperate dealers.
 
Palmer stated works continues on the captive FinCo.
 
Palmer stated there's no trade down (trim levels) in NAFTA.
 
Here's Comes the Merger question from Barclays analyst.
 
Manley stated his mandate is delivering the 5 year plan, but stated FCA has flexibility.
 
AlexB said:
Here's Comes the Merger question from Barclays analyst.
Click to expand...
Manley seemed to pretty strongly squash talk of merger. He stressed completing the 5 year plan as an independent company but did leave the door open to cooperative development agreements for components.
 
djsamuel said:
Manley seemed to pretty strongly squash talk of merger. He stressed completing the 5 year plan as an independent company but did leave the door open to cooperative development agreements for components.
Click to expand...
He made the importance of the five year plan.....through didn't full slam the door.
 
Jeep China dealer network isn't where Manley would like it.
 
Manley stated he will announce the new head of EMEA/"Italian operations in pretty short order.
 
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