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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

Fiat Chrysler recalls 1.4M Ram pickups: Tailgates could open

Fiat Chrysler is recalling 1.4 million Ram pickup trucks equipped with a power locking tailgate that may malfunction and open unexpectedly. The recall affects certain Ram 1500, 2500 and 3500 trucks from 2015 through the 2017 model years equipped with 5-foot-7 and 6-foot-4 cargo beds. Trucks with 8-foot beds are excluded, as are those with manual-locking tailgates. FCA says the tailgate actuator limiter tab could break and cause the tailgate to unlatch and open while driving, spilling cargo into the road and causing an accident. The company says it is not aware of any injuries or accidents related to the problem, and it will notify customers when service becomes available, expected to start Sept. 14. It will repair the problem at dealerships free of charge. Most of the affected trucks — about 1.14 million — are in the U.S., but an estimated 260,315 were sold in Canada and nearly 45,000 will be subject to recalls in Mexico and outside the NAFTA region. Related Video:

2019 Ram 1500 Laramie Longhorn is here to satisfy your cowboy dreams

The new 2019 Ram 1500 made its debut at the Detroit Auto Show last week. At the reveal, Ram rolled out several variants, including the Ram 1500 Limited and Ram 1500 Rebel. That was just a taste, a brief bite to whet your truck-loving palate. As you can see in these spy photos, there are far, far more models to come. FCA just released details on the new Ram 1500 Laramie Longhorn, and it looks to carry on its predecessor's Southwestern-inspired theme. The Laramie Longhorn can best be described as a Western ranch on wheels. The choice of colors, materials and details are there to bring about a sense of Texas-style luxury. Though the two-tone paint and LED headlights are nice, the real meat is inside the truck. It's easy to see why Ram calls out cowboy boots, pocket watches and horseman's saddles. Just take a look at the metal buckle on the back of the seat pockets. View 19 Photos The dashboard, door panels and armrests are done in full-grain leather. The center console, instrument cluster, seats and door panels are embossed with an alligator skin pattern. There are chrome and nickel accents throughout and a "Longhorn" emblem branded onto the wood on the dashboard. There's also wood on the doors and center console. There are two interior color options, both with contrasting piping: Mountain Brown/Light Mountain Brown and Black/Cattle Tan. Both are full leather. In addition to the optional two-tone paint, the Ram 1500 Laramie Longhorn gets a chrome grille, bumpers and tow hooks. Side steps and wheel flares are standard. The standard wheel is a new 20-inch design, though a larger 22-inch wheel is available. The Texas theme continues outside with "belt-buckle badging" on the truck's side. All the rest of the 2019 Ram 1500 features are here, too, including 4G WiFi, a 12-inch touchscreen infotainment system, 5 USB ports and a center console large enough to bathe in. The Laramie Longhorn model should get Ram's tried and true 5.7-liter Hemi V8, now available with the eTorque mild-hybrid system. Pricing hasn't been announced, but expect to see a full breakdown soon. Related Video: Image Credit: Ram Design/Style RAM Truck Luxury Off-Road Vehicles