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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

Next-gen Jeep Wrangler to get 8-speed automatic and 3.0-liter EcoDiesel

Following up on previous reports, an anonymous source within FCA has confirmed to Autoblog that the next-generation Jeep Wrangler will come to market with both a 3.0-liter, EcoDiesel V6 and ZF's critically acclaimed eight-speed automatic transmission. While this pairing makes a lot of sense (we'll explain why in a minute), until now, we only had limited reports that either item would arrive in the next-generation Wrangler. This is the first time we've heard that the eight-speed automatic and the diesel would be paired together. That said, we shouldn't be surprised by this news. FCA currently sells the Jeep Grand Cherokee and Ram 1500 with the diesel/eight-speed gearbox combo, making its inclusion in the next-gen Wrangler far from an Apollo 11-caliber feat of engineering. Naturally, we reached out to Jeep for an official comment. Spokesperson Gabrielle Schulte gave us the expected response to this kind of inquiry, telling Autoblog that FCA does not comment on future product. Jeep has flirted with the idea of a diesel Wrangler for some time, with CEO Mike Manley telling Ward's Auto just over two years ago that a Wrangler diesel was "on the radar," although at that time, we weren't certain whether it'd be the 3.0-liter EcoDiesel showing up in the rough-and-tumble off-roader. As for the eight-speed, SEC filings back in November revealed that it'd be coming to the Wrangler in 2018. Our source could not confirm which model year the 8AT/diesel would arrive in. Related Video:

2014 Jeep Cherokee dreams of Moab, crawls on stage [w/video]

The all-new 2014 Jeep Cherokee inched its way onto the stage at the New York Auto Show today, proving that at least the "Trail Rated" version of the SUV is more than just a controversial unique odd fresh face in the mid-size segment. After the short, simulated Moab run by the Trailhawk model, the gray four-door was joined on the stage by a burgundy Limited model - the luxurious highway variant.
As a recap, the all-new 2014 Cherokee rides atop a modular Alfa Romeo-derived platform (we know it from the Dodge Dart) and will be offered in both front- and all-wheel drive models with a choice between a 2.4-liter four-cylinder (rated at 184 horsepower) and a new 3.2-liter Pentastar V6 (developing 271 horsepower) engine. A nine-speed automatic is standard and no less than three different all-wheel drive systems are available.
Of the four different models (Sport, Latitude, Limited, and Trailhawk), we like the rugged looks and capabilities offered by the Trailhawk the best. Overlook the red tow hooks and check out its more aggressive wheel/tire package, flared fenders, reduced breakover angle and lack of brightwork in our gallery of live images from the New York show. Skid plates and off-road capable tires round out the package. Read all the details in the official press release below.