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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

How to polish car paint | Autoblog Details

Here's how to quickly and properly polish your car's paint to increase the depth and shine of your clear coat with a dual action polisher. Watch all our Autoblog Details videos for more quick car care tips from professional detailer Larry Kosilla. Show full video transcript text [00:00:00] Polishing paint properly is not only a skill, but it's what I consider an art especially on this 1964 Ferrari GTE. And like any art form, it takes years of practice to perfect. Today we're gonna discuss how to quickly and safely polish or paint to increase the depth and shine of your clear coat with dual action polishers. Coming up on this episode of Details. My name is Larry Kosilla and I'm a professional detailer. Together with Autoblog, we're creating [00:00:30] the ultimate collection of quick car care videos. This is Autoblog Details. Here are the items you'll need for this task. If your car has clear coat, and in most cases, any car manufactured after the mid 1980s, or repainted like this one here, will come standard with clear coat, and you'll need to use a machine. Polishing clear coat by hand is not recommended due to the hardness of the paint. [00:01:00] Polishing paint is typically done for two main purposes. First is to remove any remaining swirls left over from a previous compounding step, or to simply increase the gloss of the paint that has no scratches that lacks a deep rich shine like this one here. First, attach a foam polishing pad to a machine. In this case, I'm using a Meguiars foam yellow pad on a Rupes LHR 21ES polisher. Spread your polish of choice around the pad, covering all pores evenly by massaging the product in [00:01:30] by hand and of course, wearing gloves. Make sure to add a bit more in some areas that remain uncoated. Now that the pad is primed, add three small dots of polish and place the pad directly on the paint prior to engaging the machine. Speed settings will vary by machine and the type of pad used but a setting of three to four is a good place to start. Take note on small orbit polishing machines if the polishing pad is not rotating, little to no polishing work is being done to the paint. Adjustments to speed, pressure, [00:02:00] and machine angle may be needed. Apply light to medium pressure to the machine so that the foam pad compresses slightly. Arm speed is moderate to slow. But keep in mind, the slower your arm speed, the more work is being done to the paint.

Watch Edo Competition pit a Ferrari FXX against a Maserati MC12 Corsa on the 'Ring

High-zoot supercar tour organizer Gran Turismo Events held its annual Nürburgring track day last month, and in addition to the amateur punters the gates were opened to two tuned supercars from Edo Competition: A Maserati MC12 Corsa and a Ferrari Enzo ZXX. The ZXX, in case you've forgotten, is the same love child of Edo Competition and Zahir Rana's ZR Exotics that belly flopped into the Atlantic during the 2011 Targa Newfoundland.
We get a trip around the Nordschleife with both cars during a no-doubt quick but not insane lap, on board with driver Patrick Simon in the 755-horsepower MC12 and 'Ring queen Sabine Schmitz following in the 840-hp ZXX.
That should be all the build-up you need when the action's in the video below.