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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

2020 Ram HD trucks revealed in spy shots, along with interior

It looks like FCA isn't too concerned with keeping its redesigned Heavy Duty trucks under wraps before their reveals. Our spy photographers managed to catch a fleet of 2020 Ram HDs running around completely undisguised. Not only do we get to see exterior design details, but there are also shots of the HD's interior in Laramie trim. Shots of the new Power Wagon went up a few days ago, but now we get to see the truck in both Laramie Longhorn and Limited trims. It's clear the trucks are following in the footsteps of the 2019 Ram 1500 redesign for their inspiration — we like the new Ram, so that's a good thing. The departure from traditional Ram HD styling means the retirement of the crosshair grille. We can see this first in the brown Laramie Longhorn at the top here. Thankfully, Ram didn't go as far as GM did with its crazy grille design on the freshly released Silverado HD. That being said, it's still pretty large. It appears more upright and tough-looking than the similarly styled 1500 Laramie Longhorn, but still adopts the same design language. 2020 Ram 2500 Limited View 12 Photos The 2500 Limited doesn't exactly look finished, but it's clear we're looking at a more luxuriously appointed truck from the photos. There's more chrome, and the grille design is much more complex than the Laramie Longhorn. In fact, there might even be a bit too much chrome for our taste — tow hooks probably aren't in need of any shiny bling. 2020 Ram 2500 Power Wagon Tradesman View 8 Photos Finally, we also get to see the Tradesman trim of a Power Wagon. The red looks good on the big truck, but the trim we saw the other day had a much meaner front-end design. This one would be better for those who want a more discreet Power Wagon. Interior shots surfaced alongside these new trucks too. We wouldn't have imagined much difference between the 1500 and HD interiors, and that seems to be the case. The model we're looking at here has the 8.4-inch screen with Uconnect, but the massive 12-incher will undoubtedly be available too. We expect an "official" debut of this truck early next year, with the Detroit Auto Show being the most likely of places for that to happen. Related video:

Ram increasing EcoDiesel production [w/video]

The Ram 1500 EcoDiesel shot out of the gate with strong sales by filling its initial allocation of 8,000 orders in just three days, in February. At the time, Ram expected that the oil-burning variant would account for around 10 percent of 1500 output, but it knew there was room to grow if the demand was there. Apparently it is, as the truck maker is doubling the diesel's production mix for the 2015 model year to 20 percent of the pickup's total volume.
Since hitting the market, the EcoDiesel has been a smashing success, according to Ram. The company claims that nearly 60 percent of its sales have been conquests from other truck brands, and its popularity has boosted the 1500's average transaction price, as well. In an accompanying video, brand president Bob Hegbloom said that customers have been demanding more of them.
"Innovation sometimes comes with risk, but being first to market with a diesel engine for the half-ton segment has shown to be a great decision for the Ram Brand," said Hegbloom in the company's release.