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Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall

Jeep Grand Wagoneer, Deserthawk and plug-in models coming soon

BOLOCCO, Italy — Today at FCA's Italian proving ground, Mike Manley rolled out the roadmap for Jeep's next five years. Manley has been in charge of Jeep since 2009 and has helped boost sales to more than 1.5 million units globally thanks to the success of models like the Cherokee, Grand Cherokee and Wrangler and submodels like the Trailhawk and Trackhawk. Well, there's more on the way, including new sand-prepped Deserthawk models, the return of the Wagoneer and Grand Wagoneer nameplates, and electrified versions of every model by 2021. While the plan for these next five years is a little less firm than the last one, it does provide the American automaker with some flexibility and breathing room. If you'll remember, by 2018 we were already supposed to have a new version of the Grand Cherokee as well as the premium Grand Wagoneer. Both of those are still coming, just not as soon as Jeep had hoped. Additionally, by 2022 Jeep plans to roll out two new three-row SUVs, new versions of the Renegade and Cherokee as well as the long-awaited Scrambler pickup. All in, Jeep plans to launch two models per year by 2022. That includes eight plug-in hybrids for the North American market. We saw one of the first Wrangler PHEVs at today's presentation. There are also plans to have a Level 3 autonomous vehicle on the market by 2021. Jeep will double down on its heritage, arguably one of the biggest things the brand has going for it. Its rugged image has helped boost sales in a market already clamoring for utility vehicles. By the end of 2018, FCA expects 1 in every 17 utility vehicles sold worldwide to wear a Jeep badge. The ratio should be even better for 2019. Related Video:

2018 Jeep Wrangler Moab splits the Sahara and Rubicon gap

We knew it was coming, and it's pretty much what we were expecting. The 2018 Jeep Wrangler Moab Edition is now official, is available solely as a four-door Unlimited Model with the 3.6-liter V6 engine, and splits the gap between the luxury-biased Sahara and the off-road-ready Rubicon. It's easily identifiable by the big Moab lettering on the hood, but there's a lot more to this limited edition model besides its graphics. The Moab borrows its hood and steel bumpers, complete with removable end caps, from the Rubicon. The 17-inch wheels are painted in a low-gloss black that matches the headlight surrounds, grill inserts, and tow hooks, and are shod in 32-inch mud-terrain tires. LED lighting clusters are standard front and rear. Rock rails from the Rubicon are standard, but the Sahara's side steps are a no-cost option for owners who don't plan to do any hardcore rock crawling. Jeep's new Selec-Trac full-time four-wheel-drive two-speed transfer case is also standard equipment, which means all Wrangler Moab models will have an eight-speed automatic transmission. A limited-slip rear differential is also standard. The Safety Group, which includes blind-spot monitoring, rear cross path detection and a rear backup camera, is included along with an 8.4-inch Uconnect touchscreen infotainment system. A leather interior package comes standard on the Moab and includes contrast stitching on the seats and dash. Granite Crystal, Billet Silver, Punk'n Metallic (orange), Mojito! (green), Black, Bright White, Sting Gray, Ocean Blue Metallic and Firecracker Red are all available on the Moab, which leaves the recently introduced Hellayella (bright yellow) as the only stock color that's not offered on the Moab. A body-color hard top comes standard on the Moab, and the Dual Top Group and power-operated Sky top are optional. Jeep didn't release pricing when it announced the 2018 Wrangler Moab, but an ordering guide showing a starting price of $52,695 out the door has already made the internet rounds. That makes the Moab Edition Jeep's priciest Wrangler package... so far. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.