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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

Train derailment leaves Jeep, GMC, Chevy pickups damaged in Nevada

An unfortunate train derailment is causing some inevitable delays for pickup truck customers west of Nevada. Yesterday morning, 33 train cars derailed in Lincoln County, and the cargo that was being transported consisted of new Jeep Gladiators and Wranglers along with Chevrolet Silverados and GMC Sierras, judging from the photos released by the Lincoln County Sheriff’s Office. The train derailment also caused the adjacent road to be closed, and local law enforcement recommends the area is to be avoided as long as it takes to clean it all up. In the photos, damaged Jeeps and other trucks sit either on their wheels or shiny-side-down as the incident is being assessed. Available information says there were thankfully no personal injuries, but itÂ’s not likely any of these trucks will end up in customer hands, even with a significant discount. Pre-registration transport damage, significant or not, has often resulted in scrapping complete vehicles so that manufacturers can steer clear of liability issues. Hooniverse.com, which also reported on the incident, notes a couple of interesting things. Firstly, the upended Gladiator seems to have a pretty sturdy support structure for its glasshouse, thanks to its new rollbars. Another matter is that the GM trucks, also pictured, wear discreet and temporary transport steel wheels instead of fancier items, perhaps to deter thieves eager to grab a shiny set from trucks on their way to the dealer. Still, itÂ’s a shame these vehicles could never fulfill their hauling purposes in the hands of new owners. Perhaps the manufacturers can at least use the damage for data-gathering purposes. Related Video:    

Jeep Wrangler pickup expected to hit dealer showrooms April 2019

Automotive News, after speaking with Fiat- Chrysler dealers after the one of the carmaker's meetings last week, found out the coming Jeep Wrangler pickup should hit dealers in April 2019. The dealers said that was the only new bit of information in the hour-long confab. We know Wrangler pickup production begins in the fourth quarter of this year, but we don't know when we'll get our first look at the bedded Jeep. With fully-camoed prototypes still roaming the streets less eight weeks ago, a public introduction could wait until this year's LA Auto Show, one year after the standard Wrangler broke cover and in the same place. Nor do we know exactly what we'll be seeing yet, and that goes for the name, too; Jeep has kept an admirably tight lid on leaks. Based on all of the spy shots so far, we're looking at a four-door Unlimited with a short bed. Previous speculation about a two-door Wrangler pickup appears to have gotten no further than speculation, at least for now. It's easy to assume that the Jeep utility vehicle will come with the same three engine choices as the rest of the lineup - the 268-horsepower, 2.0-liter turbo four-cylinder, the 285-hp 3.6-liter Pentastar V6, and the 3.0-liter EcoDiesel V6 with 442 pound-feet of torque. Fiat-Chrysler CEO Sergio Marchionne said he expects to see 100,000 Wrangler pickups sold each year, which is about 56 percent of the Wrangler's current U.S. and European volume, so it makes sense to put everything on the menu. Jeep made the Comanche pickup until 1992, but that was based on the Cherokee; the last Wrangler pickup was the 1986 CJ-8 Scrambler. Come April 2019, the cargo-centric Wrangler will enter a growing segment already humming with the Chevrolet Colorado, Toyota Tacoma, Honda Ridgeline, and Nissan Frontier, and awaiting the much anticipated Ford Ranger and brand new Frontier. The Wrangler would be the only member of the club to offer a convertible top, though. People are still keeping an eye on Ram, too. It wasn't so long ago that Marchionne said "Ram needs to be in that space." Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2019 Jeep Scrambler Spy Shots View 21 Photos News Source: Automotive News - sub req'd via Carscoops Auto News Jeep Truck SUV Future Vehicles Off-Road Vehicles jeep wrangler pickup jeep scrambler