2007 Chrystler Aspen on 2040-cars

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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

Junkyard Gem: 1982 Chrysler LeBaron Convertible

Things looked very grim at Chrysler during the late 1970s, as Oil Crisis-shocked car shoppers avoided buying thirsty land yachts and ancient-technology compacts in droves. The Carter administration grudgingly bailed out the company with loan guarantees in 1979 (leaving "small enough to fail" American Motors to seek help from the French government) and Chrysler needed a huge sales hit in a big hurry. Under the leadership of Lee Iacocca (freshly canned by Henry Ford II), Chrysler developed the modern, front-wheel-drive K Cars and the company was saved. The very first K Cars hit the road for the 1981 model year, and I'm always on the lookout for those historic early Ks when I'm searching for interesting bits of automotive history in junkyards. The '81 and '82s have become nearly impossible to find, but this once-plush LeBaron convertible appeared in a Northern California yard last month. While a bafflingly complex family tree of K-derived vehicles grew up in Chrysler showrooms through 1995 (including the hot-selling Caravan/Voyager/Town and Country minivans), the only "true" US-market K-Cars are the Dodge Aries, Dodge 400/600 coupe, Plymouth Reliant and Chrysler LeBaron. 1982 was the first model year for the K LeBaron and this car was built in March of that year, so we're looking at one of the very early successors to the Dodge Diplomat-based LeBarons of the 1970s. Chrysler developed a homegrown 2.2-liter, overhead-cam straight-four engine that proved very successful, and a 94-horsepower version of that engine was the base powerplant for the 1982 LeBaron. This car appears to have just about every option available that year, so of course the original buyer went for the 2.6-liter Mitsubishi Astron straight-four. With hemispherical combustion chambers, the 2.6 could be called a Hemi (a few Ks even got "2.6 HEMI" badging); horsepower came to just 93 in 1982, but the 132 pound-feet of torque beat out the 117 lb-ft of the Chrysler 2.2 that year. Silver-faced gauges and complicated radio controls were all the rage during the Late Malaise Era, and this car has both. Note the Chronometer next to the HVAC controls, a digital design with green vacuum-fluorescent display lifted from the previous-generation rear-wheel-drive LeBaron. The non-cloth bits of the convertible-top mechanism look decent enough, so perhaps some junkyard-shopping LeBaron owner will rescue them.

FCA facing class-action lawsuit over Grand Cherokee shifters

Fiat Chrysler Automobiles is now facing a multi-million-dollar class-action lawsuit over the recalled shifter design in the 2014 and 2015 Jeep Grand Cherokee, and the 2012 to 2014 Dodge Charger and Chrysler 300. Grand Cherokee owners, galvanized by Star Trek actor Anton Yelchin's fatal accident, filed the suit. According to The Wall Street Journal, the owners allege that FCA concealed the shifter's problems. On top of restitution, the class action suit is demanding a court order force FCA to issue a do-not-drive warning to owners of affected vehicles until it fixes the problem. FCA started distributing a software fix to dealers last week – according to the WSJ, the update will add more warnings about the shifter's position and will automatically kick the vehicle into park if the driver steps out. FCA's shifter problems have been bubbling under the surface as part of the company's recall issues. The US government dinged FCA with a $105 million fine last year for its recall practices (or lack thereof) last year, but things have exploded this week after Yelchin's death. The 27-year-old, best known for playing Ensign Pavel Chekov in the rebooted Star Trek film series, was killed after his 2015 Grand Cherokee rolled down his driveway and pinned the actor against a security gate. According to Jeep CEO Mike Manley, the company will dispatch engineers to analyze Yelchin's vehicle. Related Video: