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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

2018 Jeep Wrangler Buying Guide | Answers to your SUV questions

There are few truly one-of-a-kind vehicles, but the Jeep Wrangler remains one of them. Available in traditional two-door form, or as the four-door Unlimited model, this proudly square-shaped SUV traces its origins back to the battlefields of World War II. While its shape seemingly hasn't changed much over the years, the 2018 Wrangler has been completely redesigned inside and out. A 3.6-liter Pentastar V6 and all-wheel drive are standard across the extensive Wrangler lineup, including rock-crawling versions like the highly regarded Rubicon model. While it doesn't have any direct rivals, some buyers might prefer an SUV with more refined ride and handling characteristics. The Wrangler's solid front and rear axles' primary purpose is off-road adventure, not on-road comfort, no matter how much it's been improved over its predecessor. Here you'll find all the information needed to make an educated buying decision if you're considering a 2018 Jeep Wrangler including safety and reliability ratings, engine specs, horsepower, fuel economy ratings and pricing. We'll also summarize what Autoblog's professional auto reviewers think of the Wrangler. Is the 2018 Jeep Wrangler Safe? The National Highway Traffic Safety Administration has not given the 2018 Jeep Wrangler an overall safety rating. However, the 2018 Wrangler is listed as scoring three out of five stars in frontal crash tests and rollover resistance. The Insurance Institute for Highway Safety, which provides ratings for new vehicles based on its own comprehensive crash tests, did not give the 2017 model year (previous generation) Wrangler, the last one fully-tested, a recommended rating. The 2017 Wrangler scored a "marginal" rating for driver side safety in the small overlap frontal crash test (a passenger side rating was not recorded). Side impact performance came in at a "poor" rating, as did overall headlight performance. One bright spot in an otherwise dismal safety score was the Wrangler's "good" rating in the moderate overlap front crash test. Ratings may differ for Wrangler models from other model years, so be sure to visit the https://www.nhtsa.gov/ NHTSA and http://www.iihs.org/iihs/ratingsIIHS websites to review ratings on the specific vehicle you're researching. At the time of this writing, the 2018 Wrangler is subject to one ongoing recall involving 106 vehicles.

Are future vehicular hacks inevitable?

Before the hack of the Uconnect system in a Jeep Cherokee resulted in a 1.4-million vehicle recall, the potential software vulnerabilities in vehicles were already a hot topic with Congressional inquiries and even proposed legislation in the US. As cars' interconnected systems gain the ability to go online, they become open to a host of new threats. Automakers are trying to stop this, but it might be too late to put the genie back into the bottle. Throughout 2015, the issue of software security in vehicles has become increasingly vital. For example, the recent Jeep case wasn't even the biggest hack this year. In February, a major flaw was discovered in the BMW Connected Drive service that allowed researchers to remotely lock and unlock the doors and potentially affected 2.2 million cars. The fix was an over-the-air patch for the problem. Automakers are actively working to fix the issues. Mercedes-Benz, BMW, and Audi reportedly are using encrypted connections and firewalls in their vehicles to prevent hacking. "Absolute, 100-percent safety isn't possible," Daimler spokesperson Benjamin Oberkersch said to Automotive News Europe. "But we develop our systems, tested by internal and external experts, so they're up to date." These vulnerabilities seem to be popping up more often. A successful hack took $14 in parts from Radio Shack in one case. There was also a 60 Minutes report earlier in the year about DARPA's ability to hack into OnStar to take control of a Chevrolet Impala. Experts aren't so sure companies can contend with hackers' advancement. "The difficulty for the carmakers at the moment is the question whether they can keep pace with advances in technology, and especially hacking technology," Rainer Scholz, executive director for telematics consultant EY, said to Automotive News Europe. "We seriously doubt they can." At this point, vehicle hacks are coming more from researchers looking for holes than from those with malicious intent. Still, the vulnerabilities are definitely there. It's up to automakers to keep patching the problems before they become dangerous to drivers. Related Video: News Source: Automotive News Europe - sub. req.Image Credit: Bill O'Leary / The Washington Post via Getty Images Audi BMW Jeep Mercedes-Benz Safety Technology Emerging Technologies hacking cyber security