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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.

Chicago Auto Show: The really big reveals from shows past

The 2024 Chicago Auto Show may seem like a shell of its former self, but it still holds the title of the largest consumer auto show in the United States. It didn't get that reputation simply by being efficiently produced or convenient for locals desperate for something to do in February — it earned it over decades of breaking automotive news and powerhouse reveals, eventually earning an informal designation as America's truck show.  2024 may be a down year for Chicago, but let's not forget all of the great things that have come out of it, historically. Here's a look at some of our staff favorites. Bet you didn't know about a few of these cars that were first revealed in the Windy City.    2008 Dodge Challenger SRT-8  I didn't just pick this one as a former Challenger owner, but instead to illustrate just how many cool Chicago debuts we take for granted. Chrysler often chose its home turf to debut new cars, so the few times its unveilings happened elsewhere tend to stick in our minds. The first Challenger SRT-8 was kind of garbage, if we're being honest. I mean, who buys a race-bred, V8-powered muscle car without a limited-slip differential? But the SRT-8 formula evolved over time into something truly special, and what we saw in Chicago was essentially the early version of the Scat Pack, which was ultimately very successful for Dodge. And who would have thought we'd be here, 15 years later, still talking about that debut? And still loving these big Mopars, flaws and all. — Associate Editor Byron Hurd SHO time in Chicago IÂ’ll always have a certain fondness for the return of the Taurus SHO at the 2009 Chicago Auto Show. Chicago has always leaned truck and van heavy for press reveals, but every now and then, as this list illustrates, something spicy would appear. The return of the SHO as a high-powered successor to the original that ran from 1989-1999 gave enthusiasts hope for FordÂ’s performance business, especially for sedans. With a 3.5-liter EcoBoost V6 packing 365 hp, all-wheel drive and five-spoke wheels, the SHO was a nice upgrade from the lower-rung Taurus models. It was a bit more sedate than the original SHOÂ’s Yamaha-sourced V6 that teamed with a five-speed manual transmission, but still a worthy response to the Chrysler 300, Dodge Charger and later the Chevy SS. The SHO — Super High Output — begat things like the Fusion ST and gave Ford solid four-door performance for the rest of the decade.

Dodge Durango Shaker concept: A 392 V8 in front of six Viper seats

When done right, a parts-bin special can be a beautiful thing. This Dodge Durango Shaker concept for the 2016 SEMA show is one such vehicle, and it's easily our favorite Mopar debuting in Vegas. The key, of course, is pulling from the right bins. Take a tour and you'll see Charger, Challenger, and Viper pieces grafted onto this slick crossover. The featured special part is the big, 6.4-liter 392 Hemi V8 that's been dropped under the hood; it's sourced from the SRT Challenger and Charger where it makes 485 horsepower and 475 pound-feet of torque. With that in place, the fabricators cut a big hole in that hood for the Challenger's awesome optional shaker scoop. It wasn't an easy installation; it required a custom spacer for the intake to make sure everything lined up with the hole properly. View 17 Photos Apparently there were some Viper seats lying around, so six of them were stuck into this Durango. Makes sense. It does lose a bit of people-carrying capability as a result, since only two seats fit in each row, and the seats don't fold for extra cargo room. A Dodge spokesperson attested to the fact that all three rows are usable, if not totally comfortable. But then stock third-row seats aren't always that comfortable anyway. Seriously, though, Viper seats. We don't care how comfortable or usable the result is. Although you might not give it a second thought, even the fuel filler needed some special attention. This piece was also lifted from a Dodge Challenger, and it was taken along with the surrounding sheet metal. Because of the different orientation of the filler cover on the Challenger, the builders decided the easiest way to get it to fit was to chop the fuel filler section out and weld it onto the Durango. The designers also put a little blue Stig on the cover. And those are just the cool parts that were hard to install. This Durango features plenty of other slick details, like the custom bumpers, fender flares, and side skirts. Everything is painted B5 Blue with matte black and carbon accents all around. Up front, the bumper hides a pair of fog lights stolen from a Challenger Hellcat – and yes, they're the ones with intakes in the middle. The grille is also a custom piece, losing the standard crosshair design for better airflow. The fender flares cover up some seriously wide, 305-section tires at all four corners, which are hauled down by Hellcat brakes. The rear bumper bumper contains a stylish center-exit exhaust with dual tips.