2002 Chrysler Sebring Limited Convertible 2-door 70k Miles **no Reserve** on 2040-cars

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Stellantis reports surprising 2020 results, is 'off to a flying start'

MILAN — Low global car inventories and cost cuts should boost Stellantis's profit margins this year, though a shortage of semiconductors and investments in electric vehicles could weigh on results, the newly-formed automaker said on Wednesday. The forecast came as Stellantis, created by the January merger of Peugeot-maker PSA and Fiat Chrysler (FCA), reported better-than-expected results for 2020 that sent its shares up around 3% in morning trading. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies (from the merger)," Chief Executive Carlos Tavares said in a statement. Stellantis is the world's fourth largest carmaker, with 14 brands including Fiat, Peugeot, Opel, Jeep, Ram and Maserati. It said 2021 results should be helped by three new high-margin Jeep vehicles in North America and a strong pricing environment there. The U.S. market has driven profits for years at FCA and starts off as the strongest part of Stellantis. The group's guidance assumes no more significant lockdowns caused by the global COVID-19 pandemic, which shuttered auto plants around the world last spring. Stellantis should also get a lift as its starts to implement a plan aimed at delivering over 5 billion euros a year in savings, without closing any plants. Tavares has also pledged not to cut jobs. But a pandemic-related global shortage of semiconductors, used for everything from maximizing engine fuel economy to driver-assistance features, could hurt business. Auto industry executives have said the shortage should ease by the second half of 2021. Stellantis said its "electrification offensive" could also weigh on results this year. Automakers are racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030. Stellantis plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025, broadly in line with plans at top rivals such as Volkswagen and Renault-Nissan, although Stellantis has further to go to meet that goal. The carmaker is targeting an adjusted operating profit margin of 5.5%-7.5% this year. That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.

Car dealership in East Texas destroyed by tornado

Few things are as fundamentally and unconditionally destructive as a tornado. These cataclysmic phenomena pass through towns, leaving nothing in their wake but ruin and despair. According to an NBC affiliate in the Dallas-Fort Worth region, a car dealership in nearby Canton was hit by a tornado Saturday night. No employees were hurt. Four other people in the area weren't so lucky. Chrysler Dodge Jeep Ram of Canton's new showroom and service center were pounded by the storm, leaving dozens of cars in various states of ruin. Some merely lost windows, while others were flipped and left on their sides or roofs. Photos show piles of cars stacked up like Hot Wheels dumped on the ground. According to a statement from the National Weather Service, winds reached speeds of up to 140 mph. Two other tornadoes were reported in the region. The area has been declared a disaster zone and first responders from up to 100 miles away have swarmed in to help out those in need. According to Reuters, the storms Saturday killed 11 people nationwide. Related Video: News Source: NBC DFW, National Weather Service, Reuters via Automotive NewsImage Credit: Reuters Chrysler Dodge Jeep RAM tornado

Appeals court delays 'sensible resolution' meeting between GM, Fiat Chrysler CEOs

DETROIT — Three federal appeals judges have delayed a court-ordered meeting between the CEOs of General Motors and Fiat Chrysler to try to settle a lawsuit over corruption by union leaders. U.S. District Court Judge Paul Borman last week ordered GM CEO Mary Barra and FCA CEO Mike Manley to meet before July 1. But GM on Friday asked the federal appeals court in Cincinnati to overturn the order and remove Borman from the case. In an order issued Monday, three appellate judges delayed Borman's order to provide time to consider legal points raised by GM. GM is suing crosstown rival FCA alleging that it got an advantage by paying off United Auto Workers union leaders to reduce labor costs during contract talks. FCAÂ’s former labor chief, Al Iacobelli, is in prison, although the company denies that it directed any prohibited payments. In his order last week, Borman described the lawsuit as a “nuclear option” that would be a “waste of time and resources” for years if he allows the case to move forward. The judge ordered Barra and Manley to sit down without lawyers by July 1 and reach a “sensible resolution of this huge legal distraction.” Borman wants an update from them on a public video conference that same day. Over the weekend he modified the order to allow lawyers to attend the meeting. In a court filing, GM called BormanÂ’s order a “profound abuse” of power. “The court possesses no authority to order the CEOs of GM and FCA to engage in settlement discussions, reach a resolution and then appear alone at a pretrial conference eight days later, without counsel,” GMÂ’s attorneys said. “Second, the court has no business labeling a properly filed federal lawsuit assigned to the court for impartial adjudication ‘a distractionÂ’ or a ‘nuclear option,’” GM said. Borman canÂ’t be viewed as impartial, company lawyers said. The judge declined to comment. In a court filing Monday, Fiat Chrysler lawyers wrote that GM didn't make a good case to remove Borman because judges routinely direct lawsuit parties to talk about settling. The lawyers wrote that GM originally wanted the case assigned to Borman but now apparently is worried that his tough questions mean he will dismiss GM's claims. “GM should not be permitted now to complain that that judge has turned out to be less hospitable to GMÂ’s claims than GM anticipated. Parties are not permitted to engage in such judge shopping," the filing said.