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Stellantis reports record margins, $7B profits despite chip shortage

MILAN — Automaker Stellantis on Tuesday said it achieved faster-than-expected progress on synergies and record margins in its first six months as a combined company, despite suffering 700,000 units in lower production due to interruptions in the semiconductor supply chain. The company — formed from French carmaker Peugeot PSAÂ’s takeover of the Italian-American company Fiat Chrysler — reported net profit of 5.9 billion euros ($7 billion) in the first half of 2021, compared with a loss 813 million euros during the same period a year earlier, which was impacted by the coronavirus restrictions around the globe. Shipments rose 44% to 3.2 million units, while revenues rose 46% to 75 billion euros. “We are very pleased with the speed with which the new team has begun to execute as one company, as Stellantis,Â’Â’ Chief Financial Officer Richard Palmer told reporters. Semiconductor shortages accounted for 200,000 units of production losses in the first quarter and 500,000 in the second quarter. Semiconductors are used more than ever before in new vehicles with electronic features such as Bluetooth connectivity and driver assist, navigation and hybrid electric systems. Stellantis achieved 1.3 billion euros in cost savings in the first half, mostly by sharing investments in new technologies and platforms, which Palmer said was a faster rate than initially forecast. It aims to achieve 80% of the targeted 5 billion in cost savings by 2024. “These synergies allow us to continue to invest in the electrification strategy, which we talk about every day,” Palmer said. Stellantis, which lags competitors in rolling out electric vehicles, plans to launch 21 fully electric or plug-in gas electric hybrid vehicles over the next two years. North American posted record profitability on global sales of Ram trucks and the strong launch of the Jeep Wrangler 4xe, which was the best-selling plug-in gas electric vehicle in the United States in the second quarter. Stellantis was the market leader in South America and second in Europe. The results were presented on a pro-forma basis, taking into account the performance of each of the carmakers as separate entities during 2020. Related video: 2021 Jeep Wrangler Rubicon 392 Inside and Out

2015 Dodge Charger R/T Scat Pack Quick Spin

"Scat Pack" is plucked from The Big Book of Dodge Nameplates to describe what is basically the average of the Charger R/T and Charger SRT 392. Unnecessary horsepower always seems to go down better with a dose of heritage. If you think it's a silly name, just be thankful Dodge didn't call it an S/RT or an R/T-S. In previous years, a similar formulation was known as the SRT8 Super Bee. Going by another name, it's still as sweet and wears the same hurried-looking pollinator on the grille. We do wonder: What has displeased him so, and why does he have wings and wheels? The packaging is at least fresh. All Chargers get updates for 2015, including improved interiors and a Dart-on-steroids exterior redo. The new lines work especially well on the more aggressive models, including this Scat Pack car. Like the Super Bee before it, the Scat Pack gets the 6.4-liter engine from SRT 392; for 2015 it gets a slight output boost to 485 horsepower and 475 pound-feet of torque, respective increases of 15 and 5. It does without the SRT three-mode suspension and comes with cloth seats (leather is an option) to keep the price down. The Scat Pack also has slightly smaller Brembo front brakes, narrower wheels, and different rubber. It does, however, cost eight grand less and is just as quick in a straight line. Intriguing. Driving Notes Scat Pack cars get an electronically controlled active exhaust that we'd call hyperactive. It's loud all the time, opening its widest at startup, idle, and when you ask for any appreciable amount of power. Sport mode supposedly makes a difference, but we couldn't discern loud from louder. It's a delicious and appropriate loudness, with a brassy trumpet tone to it, and the engine makes top-fuel noises at full tilt. The squeal of the rear tires can be heard from every stoplight no matter the road conditions. A light touch avoids leaving a mark if you're so inclined. We weren't. When the tires eventually smear into the realm of traction, this thing is pretty quick – hitting 60 miles per hour takes 4.5 seconds. There's also an adjustable launch control mode if you want to cut out some of the wheelspin. The eight-speed transmission shifts smoothly. Quicker, more-palpable shifts are had in Sport mode, but occasionally the transmission still needs a moment to drop down from seventh or eighth when you mash the throttle. Despite its two overdrive gears, this Charger is still loud on the highway. In a good way. Probably.

Hellcat no help to Fiat-Chrysler's bottom-of-the-pile mpg average

What, you expected the "fastest muscle car ever" to help fleetwide fuel economy? Nope, don't think that's going to happen. That means Fiat Chrysler will likely to continue to languish at the bottom of the heap when it comes to fleetwide fuel economy among the largest automakers serving the US, especially as the automaker starts to sell its Dodge Challenger SRT Hellcat. A few hundred Fiat 500E electric vehicles aren't going to turn the trend around. See, Chrysler has once again finished at the bottom of the list when it came to fleetwide fuel economy among automakers for 2014 model-year vehicles, according to a preliminary study by the US Environmental Protection Agency. Chrysler and Fiat had an average of 21.1 miles per gallon. That substantially lagged the overall 24.2 mpg average, but it was an increase from the company's 20.9 mpg average last year and the 20.1 mpg average two years prior. For 2014, General Motors had the second-worst fleetwide fuel economy at an even 22 mpg. Fiat Chrysler does say it's working on improving its fuel economy, according to Automotive News. The company plans on making its inline-four-cylinder and V6 engines smaller, and will sell more vehicles with eight- and nine-speed transmissions. Heck, there's even a plug-in hybrid version of the Chrysler Town & Country minivan in the works for late 2015, and the company can tout fuel-efficiency gains with the Chrysler 200 and Jeep Cherokee. We would be remiss if we didn't note that, compared to its muscle-car forefathers, the Hellcat actually performs pretty well at the pump. Last month, word got out that the 2015 Challenger Hellcat, equipped either with a six-speed manual or an eight-speed automatic transmission, got a combined fuel economy of 16 mpg. Heck, the automatic-tranny version got 22 mpg on the highway. And that's for a car with 707 horsepower and a 10-second quarter-mile time. Still, with the pedal floored, the car can burn a gallon and a half of fuel per minute. Ouch.