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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.

Get a peek at the Dodge Demon in the new Fate of the Furious trailer

Will all of the news that comes out, Thursdays should now be referred to as Demon Days (no relation to the 2005 album by Gorillaz), at least until April. In addition to this morning's news on the Dodge Demon's Launch Assist and beefed-up components, the automaker released a trailer/commercial for The Fate of the Furious that shows a Dodge barrage and a few quick looks at the new car. The film, which opens days after the Demon's debut at the 2017 New York International Auto Show, is packed full of Dodge, SRT, and FCA products. While the few cars shown in the garage look superficially like Demons, they appear to just be standard Hellcats – the hood is wrong, and they are missing the fender flares. On the other hand, the ones in the trailer's chase scene appear to be the real deal, or at least made to look like it, with the big AirGrabber hood scoop and wide-body fender flares. We've seen a few of these cars already on the film's set, so this is no real surprise. The ad itself is a bit strange. The shots of the woman standing in front of the SRT lineup appear to be cut into footage from the film, so she's not actually talking to the cast in these scenes. That's why a narrow-body car bursts through the wall and becomes a wide-body Demon-like thing. Well, the Fast and Furious franchise was built on bad dialog and over the top car stunts, so par for the course? The film debuts on April 14, and expect the Demon around that time, too. Related Video: News Source: Dodge/YouTube TV/Movies Dodge Performance dodge demon dodge hellcat the fate of the furious

Canada offloading hundreds of nearly new cars it bought for G7 Summit

Are you looking for a deal on a lightly used 2018 Chrysler 300C? Do you feel like purchasing several at a time? Do you feel like visiting Canada? If all of these apply, you might be able to catch a pretty decent bargain. The Canadian government is offloading Chryslers and hundreds of other cars it bought for the G7 Summit held in Quebec in the summer, and the cars can be had quite cheaply. Originally, over 600 brand new cars were bought to ferry summit guests around Quebec, some of them in motorcades, necessitating the choice of very official-looking black on black 300C models with tinted windows. The RCMP said it turned out to be more affordable to buy the vehicles than to rent or lease them, but it still didn't come cheap for Canada. The bulk purchase price of all the cars exceeded $23 million CAD, and just $6.3 million has been recouped so far through selling 167 vehicles, as narcity.com reports. And there are still a bunch of cars for sale, posted on the GCSurplus.ca website. Take a look at the aforementioned Chryslers that were put up for auction yesterday: There are multiple 300Cs on offer with the starting bid of $25,343 Canadian and barely over 1,000 miles on the clock; the purchase price of a new, Canadian-spec 300C without motorcade modifications is over $42,000. Chevrolet Suburbans are less cheap, as the minimum bid on them is $53,428, but they appear nicely loaded with similarly low mileage and 4WD. There are also bulk deals, like a five-car pack of police-specification Dodge Chargers for a combined $133,000 if you can get them for the minimum bid. Other, less interesting but unquestionably fully serviceable vehicles include Toyota Siennas (109 were originally bought), Ford Escapes, Mitsubishi Outlanders and Dodge Journeys. You can browse the cars here. Related Video: News Source: Narcity.comImage Credit: GCsurplus.ca Weird Car News Chrysler Dodge Car Buying SUV Sedan