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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

11 vehicles from Barrett-Jackson Las Vegas worth watching

This weekend will see the world's collector car crowds descend on Las Vegas, NV for one of the biggest shows on Barrett-Jackson's popular auction circuit. There are hundreds of vehicles up for bidding, ranging from a brand-new Lamborghini Aventador to a spattering of Art Deco classics and a huge swath of classic muscle cars.
While it's virtually impossible to assemble an inarguable list of the best cars coming during the three-day, 700-plus vehicle auction, we've sifted through the listings for this year's show - it was a tough assignment, we promise - and assembled a list of what we think will be some of the most interesting lots. We'll admit, it's a bit heavy on American iron, but if you browse BJ's listings, you'll come to a similar conclusion. Still, scroll down for our list of what we think will be the most interesting vehicles at the upcoming auction.

Vin Diesel's Fast 8 Charger has fake jet power, sounds mean

With filming for Fast 8, the eighth installment in the Fast and Furious franchise, well underway, we've gotten some sneak peeks into the actors' vehicles. Dominic Toretto, played by Vin Diesel, will once again get behind the wheel of a Dodge Charger. The Charger, which was revealed as Toretto's ride in Iceland, has been heavily modified and even features a jet turbine. Sadly, the turbine is purely cosmetic, but the sound from the car's V8 is glorious. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The videos, which were posted to Jadatoys Instagram account, capture the Charger's incredible sound when it starts, revs, and idles. While the V8 sounds amazing, there's no word on what engine lurks behind the Charger's hood. The previous vehicles from Furious 7 featured 500-horsepower V8 crate engines from General Motors, which may make another appearance in the upcoming film. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Despite being a prop, Fast 8's film crew will surely find a way to bring the turbine to life in the movie that, according to Diesel, will come out on April 14, 2017. If the movie is anything like previous ones, it should have over-the-top action and an incredible selection of cars. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Star Wars Stormtrooper Dodge Charger | Beauty-Roll