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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

2021 Ram 2500 Power Wagon 75th Anniversary Edition celebrates the military-derived original

The Ram Power Wagon has made a name for itself in this century as the ultimate heavy-duty off-road pickup truck. But the name has a much longer history than that. The first Power Wagon went on sale in 1945, and was based on large military trucks built by Dodge during World War II. That's 75 years ago this year, hence the reason for the 2021 Ram 2500 Power Wagon 75th Anniversary Edition you see here. Squeaking in just in time for the civilian truck's anniversary, this special edition Power Wagon gets some visual tweaks and is loaded up with various features. On the outside you'll find standard premium LED headlights with black trim that matches the black decals and rock rails. The unique grille gets a gunmetal Ram badge and the rear doors have black 75th anniversary badges. Beadlock-capable wheels with the usual 33-inch tires round out the exterior styling. Inside, the most prominent change is the addition of brown leather seats with 75th anniversary logos in the seat backs. Dash and door trims feature gloss black plastic and brushed aluminum. The 12-inch infotainment screen is fitted and features the new-for-2021 off-road pages that display ride height, pitch and roll, and auxiliary gauges. The infotainment system is also coupled to a 750-watt, 17-speaker sound system. The special edition Power Wagons will reach dealers by the end of the year. Pricing starts at $66,945 with destination. Related Video:

The 2019 RAM 1500 gets a torque boost with the new eTorque system

The Ram is all new for 2018. The 1500 will come in two engine versions, a 3.6-liter V6 and a 5.7-liter V8. An eTorque system will add an extra 90 pound-feet of torque in the V6 and 130 in the V8. And it will get a massive 12-inch touchscreen. For more coverage of the NAIAS 2018 head over to https://www.autoblog.com/detroit-auto-show/ Detroit Auto Show RAM Truck Autoblog Minute Videos Original Video