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Stellantis reports surprising 2020 results, is 'off to a flying start'

MILAN — Low global car inventories and cost cuts should boost Stellantis's profit margins this year, though a shortage of semiconductors and investments in electric vehicles could weigh on results, the newly-formed automaker said on Wednesday. The forecast came as Stellantis, created by the January merger of Peugeot-maker PSA and Fiat Chrysler (FCA), reported better-than-expected results for 2020 that sent its shares up around 3% in morning trading. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies (from the merger)," Chief Executive Carlos Tavares said in a statement. Stellantis is the world's fourth largest carmaker, with 14 brands including Fiat, Peugeot, Opel, Jeep, Ram and Maserati. It said 2021 results should be helped by three new high-margin Jeep vehicles in North America and a strong pricing environment there. The U.S. market has driven profits for years at FCA and starts off as the strongest part of Stellantis. The group's guidance assumes no more significant lockdowns caused by the global COVID-19 pandemic, which shuttered auto plants around the world last spring. Stellantis should also get a lift as its starts to implement a plan aimed at delivering over 5 billion euros a year in savings, without closing any plants. Tavares has also pledged not to cut jobs. But a pandemic-related global shortage of semiconductors, used for everything from maximizing engine fuel economy to driver-assistance features, could hurt business. Auto industry executives have said the shortage should ease by the second half of 2021. Stellantis said its "electrification offensive" could also weigh on results this year. Automakers are racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030. Stellantis plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025, broadly in line with plans at top rivals such as Volkswagen and Renault-Nissan, although Stellantis has further to go to meet that goal. The carmaker is targeting an adjusted operating profit margin of 5.5%-7.5% this year. That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.

Completely uncovered 2018 Jeep Wrangler reveals evidence for folding windshield

After months of peering through heavy tarps and vinyl wraps, we finally get our very first look at a 2018 Wrangler without any camouflage at all. The photo comes from a user at JL Wrangler Forums, and it seems to show the truck rolling off the assembly line. Unfortunately, the angle isn't great, but it does give us a look at some of the detail changes to the body compared with the previous one. The most noticeable new detail is the vent that sits in a triangular scallop in the front fender. There's also a tumblehome character line running along the doors. Both of these styling features are consistent with leaked images and fan renderings also published by JL Wrangler Forums. The door handles have also changed, and appear to be more conventional pull-to-open pieces rather than the chunky pushbutton handles on the current Wrangler. It seems like the new Wrangler will still embrace open-air motoring, too. The doors retain exposed hinges that seem to be designed with easy removal in mind. Not only that, but we can see styled rubber pads on the hood. These have been featured on Wranglers all through the years to provide a cushion for when the windshield is folded down. So we would expect the windshield on the new Wrangler to be foldable, too. And, of course, this Wrangler has the traditional fabric folding top. We still expect to see the Wrangler make its official debut at the L.A. auto show, with sales beginning soon after. It will offer gasoline V6 and four-cylinder engines to start, with a diesel version coming later. The Wrangler also will likely gain new features including a hardtop with power sliding panels, and a full-time four-wheel-drive system. Related Video: News Source: JL Wrangler ForumsImage Credit: JL Wrangler Forums Spy Photos Jeep SUV Off-Road Vehicles jeep wrangler jl

Maserati Levante crossover not Jeep based after all?

Maserati has been teasing its crossover project since 2011, which is when it first showed off the Kubang concept (pictured above). Still, the production version, rumored to be called the Levante, remains a complete mystery. The CUV was first rumored to borrow the platform from the Jeep Grand Cherokee, but new rumors indicate that the Italian, luxury crossover might actually take the underpinnings from the Quattroporte and Ghibli.
In a brief interview, Maserati CEO Harald Wester told CNN Money that the Levante wouldn't use Jeep's platform. Motor Trend spoke with an unnamed Maserati engineer who confirmed the rumor. Officially, the company says that no decision has been made.
We can add this to another long list of rumors about the Italian CUV. It was originally supposed to be built at Chrysler's Jefferson North assembly plant in Detroit. Then, plans were changed to build it in Italy.