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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

Chrysler uses Super Bowl spots to honor troops, farmers

How do you follow up such revered and successful ads as Chrysler's last two Super Bowl commercials? Imported from Detroit and Halftime in America should be given credit for giving the automaker's public perception a complete overhaul after its rescue from the brink with taxpayer money. What next, then?
We just found out during Super Bowl XLVII. This year Chrysler went with two commercials, one for Jeep and the other Ram. The two-minute-long Jeep commercial, called Whole Again, is narrated by Oprah Winfrey and presented as an open letter to the service men and women of America, simply expressing admiration for what they do - poignant message coming from a company whose history is so entwined with that of the military's.
The Ram commercial, called Farmer, honors the agricultural backbone of this country. Its soundtrack is a speech entitled "So God Made a Farmer" given by the famous radio broadcaster Paul Harvey, which plays over a slideshow of original photography commissioned by Ram. The images, of course, focus on farming and the people who do it for a living, and there's a few Ram trucks in there, as well.

Omaze is giving away a luxurious, custom Ford F-250 off-roading machine

Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change. No donation or payment necessary to enter or win this sweepstakes. See official rules on Omaze.  Enter to win this giveaway or any other Omaze experience between now and November 26, 2020, use code UNWRAP300 and receive 300 bonus entries. Winning this sweepstakes will be the best Black Friday deal you’ll ever find. Personally, IÂ’m not much of a heavy-duty pickup guy. I donÂ’t have a camper to tow, nor the garage space for a big truck. But I can appreciate them. Driving a Ram Power Wagon off-road in the Nevada desert is boatloads of fun. If you need to tow 15,000 pounds and love off-roading, thereÂ’s nothing better than a heavy-duty pickup, and this custom F-250 that Omaze is giving away is one youÂ’d love to take off-road in the wide open space of a desert. Win a Custom Ford F-250 4x4 Diesel and $20,000 - Enter at Omaze This truck, customized by LGE-CTS, is a monster. It features a 6.7-liter Power Stroke V8 turbodiesel under the hood that produces 475 horsepower and over 1,000 lb-ft of torque, 1,050 to be exact. You read that right. Four-figure torque. It also has a towing capacity of 15,000 pounds and a payload of 3,320 pounds.  Here are some of the other off-road customizations, according to Omaze: “Baja Forged 5” bulge carbon fiber fenders and bed sides, Baja Forged front and rear tubular bumpers, bed cage spare tire rack, rigid light bar and accessory lights, Warn 9,500-lb winch, ICON Stage 5 Coilover conversion suspension with 3.5” lift, 8” Method wheels w/ 37” Toyo tires, Banks cat-back exhaust, iDash and Pedal Monster.” While it may look like an off-road brute on the outside, the interior is all luxury, with a panoramic sunroof, and luxurious leather heated and cooled seats. Another addition to the interior: $20,000 in cash. And like most Omaze giveaways, taxes and delivery fees are covered, so you can spend that cash however you want. The best part is that every donation supports First Responders ChildrenÂ’s Foundation, which, for almost two decades, “has provided financial support to children who have lost a parent in the line of duty as well as families enduring significant hardships due to tragic circumstances.