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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 TRX to be revealed this summer

The wait for the 2021 Ram TRX will soon be over, FCA confirmed Thursday with a social media teaser. The much-anticipated, Hellcat-powered Raptor slayer will be revealed this summer.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Ram teased the unveiling on Twitter with a short video of the truck kicking up a massive desert dust cloud overlaid with the TRX badge and the caption, "It’s not a mirage." Make sure you enable sound, because the clip has audio, and you can hear the beating heart of the TRX — the same 6.2-liter supercharged V8 that powers FCA's Dodge Hellcat and Jeep Trackhawk models.  The engine sound in the clip lends credibility to a previous spy video purporting to show a group of TRX prototypes testing in Michigan's Silver Lake Sand Dunes.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The link in the tweet leads to a microsite which replays the same short clip but offers no additional information, which tracks with the slow-drip approach Ram has taken with teasing out its new truck. Much of what we know (or believe to be true) has come from unconfirmed sources and spy shots, but Ram has acknowledged that the Hellcat powerplant will make more than 700 horsepower, rather than the 500-some-odd figure originally expected.  From the above shots, we can tell the TRX will sport bulging box flares (a la Raptor) front and rear. The hood appears to be equally bulging, good for highlighting the supercharged V8 underneath. The front bumper is similar to that of the Ram 1500 Rebel's with more raised sections in front of the tires to provide more clearance. Ram 1500 TRX View 18 Photos We get a solid look under the body, too. Still present are the extra beefy suspension control arms front and rear. Skid plates seem to line the whole underside down the middle. The tires were Goodyear Wrangler all-terrains, though it was difficult to make out the actual size. Previous spy photos have revealed remote-reservoir shocks. The wheels at each end are six-lug units, so it seems Ram isn't playing with a heavy-duty axle like a previous prototype suggested. Whatever the case may be, we should be no more than a couple of months away from getting the official details on Ram's new Raptor competitor.  Related Video:    

Detroit Three's lucrative pickup war intensifies as Ram makes big gains

DETROIT — The battle for profits from sales of large pickup trucks is intensifying among the Detroit Three automakers as sales of small cars in the United States shrivel. For decades Ford has had the single best-selling truck brand in its F-Series trucks. General Motors' Chevrolet brand was a solid No. 2, and Fiat Chrysler Automobiles' Ram was a distant third. Now, that hierarchy may be in flux. Sales figures for December and the fourth quarter released on Thursday show Ram tied with GM's Chevy for the No. 2 spot, as sales of the redesigned Ram pickup surged, fueled in part by demand for an optional 12-inch (30.48 cm) dashboard screen. Chevy not long ago held second place to Ford by a wide margin. GM executives said on Thursday they are bullish on their new GMC and Chevy trucks for 2019.Related: How the Detroit Three's pickups compare on paper 2019 Ram 1500 Laramie review 2019 Chevy Silverado 2.7L four-cylinder review 2019 Ford F-150 2.7L EcoBoost review "There's no doubt this segment (pickup trucks) is one of the epicenters of the auto wars," said Sandor Piszar, director of marketing for Chevrolet at GM. "It's been that way forever, and we wouldn't have it any other way." On Wall Street, investors give electric car leader Tesla a higher valuation than any of the Detroit automakers. But in the nation's heartland, big pickups remain far more popular and profitable than any electric car — and most other consumer vehicles of any kind. Large pickups generate at least $17,000 a vehicle in pretax profit for GM, the company has indicated in disclosures to investors. By contrast, many Detroit Three sedans are so unprofitable, their manufacturers have decided not to build them anymore. 'Hotly contested' Sustaining sales and pricing in the large-pickup segment will be critical in a year when most forecasters expect overall U.S. car and light truck sales to fall. Ford's U.S. sales chief, Mark LaNeve, on Thursday called the F Series "the backbone of our franchise" during a conference call, and added the "segment will continue to be strong, but hotly contested" in 2019. Automakers are banking on pickup truck sales to stay strong even if U.S. interest rates continue to rise. Rising interest rates translate into higher monthly car payments and are expected to deter some buyers in 2019. GM has said 27 percent of Chevrolet and GMC trucks — which can haul trailers by day and substitute for a luxury sedan by night — sell for more than $55,000.