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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

Stellantis urges owners to fix Takata airbags after another fatality

Stellantis this morning is emphatically urging owners of older Dodge and Chrysler models equipped with recalled Takata airbags to park their cars until they can have recalls performed after the company on Friday confirmed a third fatality. The company's statement includes instructions for owners and follows this article in its entirety.  This comes just six weeks after the brands comprising the former FCA business unit urged customers to park their cars after two fatal incidents involving defective Takata airbags prompted Stellantis to issue a do-not-drive order for the 2005-2010 Dodge Charger, Magnum and Challenger, along with the Chrysler 300. The company is warning any customers who have not yet had their vehicles inspected in accordance with previous recall campaigns to park their cars until they are able to do so. This order covers more than 275,000 vehicles on the road.  No new recall has been initiated to address the faulty airbags as all of the vehicles in question are within the original population of the massive 2015 campaigns carried out by virtually every major automaker. Industry supplier Takata's airbag inflators have been identified as the cause of more than 30 fatalities when moisture caused them to explode rather than deploy normally in a collision.  Here is the full statement from Stellantis: December 19, 2022 , Auburn Hills, Mich. - FCA US LLC urges owners or custodians of certain older-model Dodge and Chrysler vehicles with unaddressed Takata driver-side air-bag recalls, to immediately stop driving them and contact the Company to obtain the required repair – free of charge. We strongly reiterate our previous warning, having confirmed a third Takata-related fatality involving this population of vehicles. They are equipped with Takata air-bag inflators whose chemical properties may deteriorate over time, particularly if exposed to hot, humid climates. Such conditions may cause the inflators to rupture on deployment, scattering razor-sharp debris capable of causing serious injury or death. “Time is a critical element here because the risk increases with each day these air-bag inflators go unreplaced,” said Tom McCarthy, global head of Technical Safety and Regulatory Compliance at Stellantis. “We have the parts, and the service is free.

2015 Dodge Charger Pursuit is ready to serve and protect

Okay speed freaks, it's time to update your cheat sheet of police headlights, as Dodge has just unveiled the new 2015 Charger sedan's police variant, the Pursuit.
Like previous Charger Pursuits, the 2015 model is based on a modified version of the civilian sedan, featuring the same basic batch of mechanicals and sheetmetal, while adding a number of items specific to the five-oh.
For 2015, cops can select from the same 3.6-ltier V6 and 5.7-liter Hemi V8 available to the civilian population, with former turning out 292 horsepower and 260 pound-feet of torque and the latter packing 370 ponies and 390 lb-ft. Even loaded down with equipment, Dodge claims the Hemi-powered cop car can hit 60 miles per hour in under six seconds, while both engines are expected return 26 miles per gallon on the highway (thanks to the V8's four-cylinder mode). Rear-wheel drive is standard with both engines, while V8 Pursuits can be fitted with all-wheel drive.