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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

2019 Jeep Renegade reveals front fascia details

Over the past few months, details of the new 2019 Jeep Renegade subcompact crossover SUV have been trickling out via spy shots. This latest batch show that the front fascia, specifically the front bumper, is getting a number of subtle changes. Among the more noticeable tweaks are the new side vents in the bumper. They've been given a triangular design. Besides offering a nice chunky look, they also encompass the turn signals. This is a cleaner, better integrated look than the current model, which just leaves those indicators in their own little spots in the bumper. The foglights have changed, too. They're now significantly larger, and sit farther inboard in the main grille in the bumper. Moving up in the fascia, we see that the Renegade is getting some new headlights. At least on this model, there's an LED daytime running light halo in the headlamps. It also has a horizontal insert that appears to house an LED headlight element just like that on the new Wrangler. We've seen other prototypes with conventional halogen reflector headlights like on the current model, and we expect they will continue to be used on lower-spec models. There aren't many other changes to see. The rear of the truck looks roughly the same, as do the flanks. From past prototypes, we know that it will continue to have a massive touchscreen option for the infotainment. There also may be a hybrid model. It could be a very mild electric-assist like that on the four-cylinder Wrangler and the V8 and V6 Ram 1500s, or it could be something more. We expect to see the new Renegade revealed by the end of the year at the earliest, and certainly by the end of the next auto show season. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2019 Jeep Renegade Spy Shots View 9 Photos Image Credit: KGP Photography Spy Photos Jeep Crossover SUV Off-Road Vehicles jeep renegade

Autoblog Podcast #417

Episode #417 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Brandon Turkus talk about what we're expecting to see at the upcoming 2015 Chicago Auto Show that kicks off on February 12. Of course, the podcast starts with what's in the garage and finishes up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #417 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics 2015 Chicago Auto Show In The Autoblog Garage 2015 Bentley Continental GT Speed 2014 Ford F-150 Tremor Long-Term 2015 Volkswagen GTI Long-Term 2014 Jeep Cherokee Hosts: Dan Roth, Steven Ewing, Brandon Turkus Runtime: 01:25:53 Rundown Intro and Garage – 00:00 Chicago show – 27:37 Q&A – 47:27 Get The Podcast UStream – Listen live on Mondays at 10 PM Eastern at UStream iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes