Carfax Certified One-owner! 5.9l Cummins Diesel! Chrome Wheels! on 2040-cars

Auto blog

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

Thieves stealing Dodge and Ram vehicles right off factory lots

Stellantis-operated storage lots in and around Detroit have been hit by a wave of thefts in recent weeks. Thieves are getting their hands on new, high-end models such as the Dodge Challenger Hellcat by going straight to the source, helping themselves, and driving off. Detroit news channel WDIV Local 4 reported that over half a dozen new cars and trucks have been stolen from various storage lots since the beginning of 2022. On March 10, five Ram trucks were taken from a secured facility in Shelby Township. Several more Ram trucks were stolen on March 8, and one smashed into a semi truck's trailer as it attempted to get away. On March 3, thieves took three Dodge Challenger Hellcat models from a lot in Auburn Hills. And, on February 28, a Jeep Grand Cherokee Trackhawk and a Dodge Challenger Hellcat were stolen from a lot near the Jefferson North assembly plant. Many of the vehicles that thieves are targeting cost nearly $100,000. Stealing a new car from a storage lot is reportedly easier than it might sound. Citing anonymous sources, WDIV explained that the keys are normally left inside of the vehicles while they're parked on the storage lot, waiting to be dispatched to dealers. Security guards patrol the property, yet the thieves are finding ways to sneak into the lot, hop in a car, and drive off by ramming through the gates. Stellantis told the news channel that the Sterling Heights Police Department is investigating the thefts, and that at least one of the lots is managed by a third-party company. It declined to comment on the number of vehicles stolen or the methods used because the investigation is ongoing. In the meantime, the Sterling Heights Police Department plans to send extra patrol cars to the areas around the storage lots. There's no word on whether the missing cars have been found. And, this isn't the first time that thieves have stolen new V8-powered Dodge and Ram vehicles in the Detroit area. In October 2021, thieves stole four cars from a Dodge and Ram dealership about an hour away from Detroit; one was a rare 2021 Durango SRT Hellcat. All four cars were recovered, though the Durango was stuffed into a wall. And, in May 2018, eight Ram trucks were stolen from a factory in Warren, Michigan, by thieves who got away by driving through the main gates.

Dodge Demon gets official insurance from Hagerty

Hagerty Insurance has been covering enthusiast and classic cars for years, and now it will be offering special policies just for 2018 Dodge Challenger SRT Demon owners – all 3,000 of them in the US and 300 in Canada, if they want. The big advantage to the Hagerty policies will be the Guaranteed Value coverage. Demon owners won't have to haggle about what the car's worth; Hagerty will set the value at the time the policy is issued, so there's no question about coverage should an owner total a Demon. Trust us: At least one owner will total a Demon, and that's a very conservative estimate. Dodge seems to be happy about the arrangement. Tim Kuniskis, who heads up the North American passenger car brands division, said in a statement that, "We didn't build the Demon to be a halo car that never sees the light of day – we want to make sure that Demon owners have access to the insurance they need to get these cars out on the street, for all the Dodge/SRT enthusiasts to see and appreciate their performance." Ordered a Demon and interested in coverage? There's a dedicated hotline for Demon owners at (844) 840-8733, or you can visit Hagerty's site and start a quote online. You're probably wondering if any of these policies will cover you at the strip. So are we. We're asking Hagerty and will fill you in when we have information. Related Video: