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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 Ram 1500 Warlock is priced right and revives a retro name

Few car companies have a history as rich and fun as Mopar, and few companies take advantage of it like Fiat Chrysler. Bringing back fantastic colors such as Sublime, or exciting models such as Power Wagon, FCA is an ace at retro vehicles. Well, it is most of the time. Then there are things like the 2019 Ram 1500 Warlock. But before we dig into the new one, we need to talk about the original, which was a trim introduced in 1976 on Dodge's old full-size truck. It was part of a line of pre-customized Dodges called "Adult Toys" ( we're not making that up). The Macho Power Wagon was one of them, and the modern Power Wagon's stripes come from that truck. The Warlock was likewise a pre-customized truck that came with gold pinstripes, wheels and upholstery, bucket seats and oak bed rails. It was also available with a six- or eight-cylinder engine and two- or four-wheel drive. The new Warlock does fit some of the original's spirit, since it's customized from the factory. It has a one-inch lift over the stock truck, powder-coated bumpers, fender flares, 20-inch wheels and decals aplenty. It's even available with six or eight cylinders and rear- or four-wheel drive. But our two main problems are that this doesn't look any different than other special Ram models, and nothing about it references the old Warlock. As for the first problem, we've seen all the parts and most of the stickers on this truck before, especially on the Rebel that has the same lights, grille, bumpers and fender flares. And for the second, this was a big missed opportunity to try out some cool retro touches, such as the gold wheels and pinstripes. A custom interior would have been especially nice. The new Warlock has just the plain "Diesel Gray" interior found on most basic Rams. And this is all without something unique like the original's wood bed rails. There is an upside to all of this, though, and it's that the Warlock offers truck buyers a way to get a new Rebel-style Ram for a lot less than the real thing. The Rebel trim no longer exists on the Ram 1500 Classic (what the Warlock is based on), and it starts at $46,635. The Warlock starts at just $37,040 with two-wheel drive and the standard V6. Buyers can also add a V8 and four-wheel drive as options. So the Warlock isn't a great Warlock, but it's a solid budget Rebel. Related Video:

Truckmakers squabbling over who can sell Jimmy Fallon a pickup

Snagging a celebrity endorsement is a big deal for automakers, as evidenced by the recent efforts of the Detroit Three to try and woo The Tonight Show's newest host, Jimmy Fallon, into one of their trucks.
After announcing during Wednesday night's show that he was in the market for a pickup truck, Fallon set off a firestorm of efforts on Twitter, with both Ford and Chevrolet petitioning the funnyman to test out a truck. According to Ad Age, Ford recommended the King Ranch edition of its next-generation F-150 while the show was still airing. Chevy, meanwhile, waited until the next morning to pitch a Silverado to Fallon.
The winner of this social media feeding frenzy, though, was Ram. Promoting a variation of its "Guts, Glory, Ram" tagline, the Auburn Hills-based manufacturer created the hashtag #GUTSGLORYFallon. It even went so far as to park a Ram 1500 outside 30 Rockefeller Center in New York, where The Tonight Show is filmed. On the back of the Ram sat a sign, reading "Big enough, Jimmy? Test it out," referencing a joke from the Wednesday show.