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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

NC dealer creates the convertible Challenger that Dodge won't build

Dodge still hasn't turned the Challenger into a convertible, and the odds of seeing a factory-built drop-top muscle car appear in showrooms are decreasing annually. Tired of waiting, a dealership in North Carolina teamed up with a Florida-based body shop to create a topless alternative to the Ford Mustang and the Chevrolet Camaro. It's the real thing, and it's for sale. Keffer Dodge, Chrysler, Ram and Jeep shipped three 2019 Challengers to a shop named Convertible Builders, according to Motor Authority. After losing their lid, they gained a cloth soft top that opens and closes at the push of a button. There's no word on what effect the conversion has on handling, or what Convertible Builders did to offset the loss of structural rigidity. The build didn't include mechanical modifications. Two of the convertibles are R/T Scat Pack models equipped with a 6.4-liter Hemi V8 engine that serves 485 horsepower and 475 pound-feet of torque. It's not a supercharged Hellcat V8, but it's potent enough to spin the rear wheels in third gear. The third, R/T-based model features a 375-horsepower, 5.7-liter V8. While our dream build would use a six-speed manual transmission, all three come with an eight-speed automatic that sends the engine's power to the rear wheels. Keffer's website lists the gray, white, and red cars at $64,000, $60,000, and $56,300, respectively. The regular R/T Scat Pack Widebody model starts at $46,245, and the eight-speed automatic adds another $1,595, so the convertible conversion adds about $16,000. It's your only option, unless you're brave enough to chop the top yourself, or patient enough to wait until the early 2020s. Dodge has already started developing the next-generation Challenger, so the current car is unlikely to spawn a convertible before it retires. Its replacement due out in 2021 or 2022 will allegedly ride on a wider, longer evolution of the Giorgio platform found under the Alfa Romeo Giulia, among other models, and unverified rumors claim it's being designed with a topless variant in mind from the get-go. It might resurrect the Barracuda nameplate originally assigned to Plymouth when it makes its debut. Auto News Dodge Convertible Performance

BMW tops Consumer Reports 2023 Brand Report Card

Feels like we wrote about Consumer Reports' 2022 Brand Report Car and 10 Top Picks a few weeks ago, but it was last April. So the mag is back with a ranked roster of 32 brands and 10 vehicles in four categories for your debating pleasure. Starting with the brands, last year's top three were Subaru, Mazda and BMW. This year, the Munich crew climbed two spots to win the prize thanks to "Superb road test scores and solid results in CR’s reliability and owner satisfaction surveys." Subaru narrowly fell to second, maintaining its four-year run in the top three. Mini, eighth last year, jumped five spots to get the last step on the podium. The rest of the top 10 were Lexus (up one spot from last year), Honda (down one spot from last year), Toyota (up three), Genesis (up 12), Mazda (down six), Audi (down three) and Kia (up eight). The magazine and testing outfit says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CRÂ’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." Last year's top 10 had six automakers from Japan, three from Germany (giving Mini credit for England), none from the U.S. or South Korea, and five luxury brands. This year's list counts five makes from Japan, two from Germany because Porsche fell out of the top ten, two from South Korea, still none from the U.S., and four luxury brands. Buick again ranked as the best domestic, dropping to 12th after being 11th last year. The big mover was Lincoln, its 10-place jump up to 16th attributed to better reliability from the Corsair and Nautilus. Tesla's improved overall reliability saw it climb six spots to 17th. Dodge climbed one spot to 15th. Jeep got out of the penalty box in last to come second-to-last. Land Rover fell three places into the penalty spot.  CR's top 10 vehicle models The 10 Top Picks list is practically a new list. Only two holdovers made it to 2023, those being the Subaru Forester and Kia Telluride.