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Stellantis reports record margins, $7B profits despite chip shortage

MILAN — Automaker Stellantis on Tuesday said it achieved faster-than-expected progress on synergies and record margins in its first six months as a combined company, despite suffering 700,000 units in lower production due to interruptions in the semiconductor supply chain. The company — formed from French carmaker Peugeot PSAÂ’s takeover of the Italian-American company Fiat Chrysler — reported net profit of 5.9 billion euros ($7 billion) in the first half of 2021, compared with a loss 813 million euros during the same period a year earlier, which was impacted by the coronavirus restrictions around the globe. Shipments rose 44% to 3.2 million units, while revenues rose 46% to 75 billion euros. “We are very pleased with the speed with which the new team has begun to execute as one company, as Stellantis,Â’Â’ Chief Financial Officer Richard Palmer told reporters. Semiconductor shortages accounted for 200,000 units of production losses in the first quarter and 500,000 in the second quarter. Semiconductors are used more than ever before in new vehicles with electronic features such as Bluetooth connectivity and driver assist, navigation and hybrid electric systems. Stellantis achieved 1.3 billion euros in cost savings in the first half, mostly by sharing investments in new technologies and platforms, which Palmer said was a faster rate than initially forecast. It aims to achieve 80% of the targeted 5 billion in cost savings by 2024. “These synergies allow us to continue to invest in the electrification strategy, which we talk about every day,” Palmer said. Stellantis, which lags competitors in rolling out electric vehicles, plans to launch 21 fully electric or plug-in gas electric hybrid vehicles over the next two years. North American posted record profitability on global sales of Ram trucks and the strong launch of the Jeep Wrangler 4xe, which was the best-selling plug-in gas electric vehicle in the United States in the second quarter. Stellantis was the market leader in South America and second in Europe. The results were presented on a pro-forma basis, taking into account the performance of each of the carmakers as separate entities during 2020. Related video: 2021 Jeep Wrangler Rubicon 392 Inside and Out

2019 Jeep Wrangler Moab order guide reveals plush, spendy trim

At the end of last year, members at the JLWrangler Forum first discovered a Moab sticker kit in the Fiat Chrysler parts catalog. A few weeks ago, the same forum found a Moab edition 2018 Wrangler near FCA HQ. The previous JK series Jeep Wrangler offered a Moab edition, based on the Sahara platform, but priced and positioned between the Sahara and Rubicon trims. JLWrangler Forum members have now found the order guide for the new Moab edition, showing the same build philosophy but a bigger price. Only available on the four-door Unlimited bodystyle with the 3.6-liter V6 and eight-speed automatic, the option is said to retail for $51,200 before a $1,495 destination fee. That's $52,695 out-the-door. That puts you at $8,200 over the price of a Rubicon with the eight-speed automatic, but the Moab has a different aim. As Jeep's website says, the Sahara targets those who want "a clean, polished look that's at home wherever you take it," whereas the Rubicon is for those who need to get an extreme kind of dirty. The Moab shoots the middle, going after Sahara buyers who want their additional premium equipment wrapped in real-deal rugged looks. To work that effect, outside there'll be the dual-vent Rubicon hood, LED lighting, a steel front bumper, black tow hooks front and back, a body-colored hardtop, and Mopar rock rails. The order guide lists hood decals, which would be a new item for the vented Rubicon unit. The Moab sits on 17-inch, low-gloss black Rubicon-style wheels instead of the standard 18-inch polished aluminum wheels with Tech Gray spokes, and 33-inch BFG Mud Terrain KM2 tires. That tire choice is novel, because Rubicon comes on 33-inch BGF ALL-Terrain KO2s. The Selec-Trac 4x4 system pairs with the Anti-Spin limited slip differential, both of them normally options on the Sahara. Inside there'll be the 8.4-inch Uconnect infotainment system piped through a nine-speaker Alpine audio system. Comfort treats include keyless entry and remote start, Mopar hardtop headliner, leather seats and leather interior group, and an auto-dimming rearview mirror. Jeep throws in blind-spot monitoring with cross-path detection and the ParkSense parking assist, and for a adventurous touch, there are Mopar all-weather floor mats. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

BMW M850i Convertible, VW Tiguan and Easter Jeep Safari concepts | Autoblog Podcast #669

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski. This week, they've been driving the BMW M850i xDrive Convertible and VW Tiguan. In the news, Peugeot isn't coming to the U.S. after all, Harley-Davidson has a CPO program, Jeep teased some Easter Safari concepts and Kia's got a big fire problem. Finally, they help a listener choose a replacement for a Nissan 350Z in the "Spend My Money" segment. Autoblog Podcast #669 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars We're Driving 2021 BMW M850i xDrive Convertible 2021 Volkswagen Tiguan News Peugeot's U.S. return officially canned as Stellantis doubles down on Alfa Romeo Harley-Davidson launches CPO program to entice younger buyers Jeep teases 'Magneto' and other concepts for Easter Jeep Safari Kia tells 380,000 more owners to park their cars outside due to fire risk Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: Green Podcasts BMW Jeep Kia Peugeot Convertible Coupe Crossover Motorcycle SUV Concept Cars Electric Luxury Off-Road Vehicles Performance