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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

Winnebago Trend, Travato are first ProMaster-based RVs

While Ford has been the dominant supplier of chassis, engines and platforms for the recreational vehicle industry in modern times, its market share has been eroded by the increased availability of new commercial vehicles on the market. In the days of Daimler-Chrysler, the Sprinter was Chrysler's alternative to the Ford E-Series as a basis for Class B and C motor homes. But then Daimler split and the Sprinter went back to being a Mercedes product in the US, though it still continued currying favor in the RV world by offering diesel power with a smaller footprint. With the marriage of Chrysler and Fiat, though, the Pentastar brand once again has a foreign-sourced commercial van alternative - the Ram ProMaster - and Winnebago is the first RV manufacture to make it into a motor home.
Actually, Winnebago has unveiled a pair of ProMaster-based RVs: the Trend and Travato. The Trend is a Class C motor home, which generally means it's based on the chassis cab version of a van and features a bed over the cab and larger body for living space behind the B-pillars. Available in a tidy 24-foot length, the Trend can be had with two floor plans, both of which include large sleeping areas, a bathroom, kitchen and a dinette. The Trend also has some unique touches, including seats in the cab that swivel around to face the rear and three-point seat belts for the dinette.
The second ProMaster-based Winnie is the Travato, a Class B motor home, which is basically the full van model with as many amenities for living crammed into its quarters as will fit. The Travato measures in at just under 21 feet in length, but packs the full RV experience into the ProMaster's tall body, including a double bed, full bath, kitchen and dinette. The rear bed can even flip up and out of the way, allowing stowage of larger things likes bikes through the van's rear double doors.

Stellantis and Foxconn's new joint venture will focus on connectivity

MILAN — Carmaker Stellantis and TaiwanÂ’s Foxconn announced plans to develop a jointly operated automotive supplier focusing on technology to make vehicles more connected, including artificial intelligence-based applications and 5G communications. Stellantis CEO Carlos Tavares said the services that will be developed through the tie-up “will mark the next great evolution of our industry,” alongside fully electrified and hybrid powertrains. The deal brings together Stellantis, the worldÂ’s 4th-largest automaker formed this year by the merger of Fiat Chrysler Automobiles and PSA Peugeot, and Foxconn, a major supplier of iPhones. The companies said the venture would focus on such services as infotainment, the integration of telecommunications and computer systems, artificial intelligence-based applications, 5G communications, e-commerce channels and smart cockpit integration. The companies announced a non-binding memorandum of understanding to form a 50-50 joint venture called Mobile Drive, which will be based in the Netherlands and function as an automotive supplier also to other carmakers. The new venture will combine advanced consumer electronics, Human-Machine Interfaces (HMI) to create new services “that will exceed customer expectations,” the companies said in a release. “Customers today and, in the future, demand and expect ever-increasing software-driven and creative solutions to connect the drivers and passengers with the vehicle inside and out,Â’Â’ Foxconn Chairman Young Liu. Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot 5g Connectivity Stellantis Foxconn