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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

Some 2014-19 Ram ProMasters recalled for shifter cables that could detach

The National Highway Traffic Safety Administration (NHTSA) has issued a recall for hundreds of thousands of 2014-2019 Ram ProMaster vans with a 3.6-liter engine. Campaign No. 20V036000 states that the shifter cables on these vans could disconnect from the transmission, which could lead to a variety of unsafe situations. The new recall comes after Fiat Chrysler Automobiles (FCA) has issued transmission-related recalls for several other brand products in recent years. Jeep and FCA were thrust into the spotlight in 2016, when "Star Trek" actor Anton Yelchin's shocking death was linked to what was deemed an unintuitive shifter design. FCA recalled more than 1 million vehicles with a rocker-style eight-speed ZF shifter, including Jeep Grand Cherokees, Chrysler 300s, and Dodge Chargers. The design was unclear to some, and that confusion lead to dangerous rollaways. In 2017, FCA was back in the news when it announced a transmission recall for 1.8 million Ram trucks that had a faulty interlock that could result in the transmission shifting out of park. And in 2019, FCA announced two more transmission recalls, this time for 320,000 Dodge Darts and 51,788 Fiat 500s, both of which had cable bushings that could degrade due to temperature and moisture.  FCA's unsettling pattern has bled into the new decade, as 222,207 ProMasters have been recalled for an entirely separate transmission issue that could once again lead to a rollaway risk. The NHTSA estimates approximately three percent of these vehicles could have built with a transmission gear shift cable that was kinked during production. According to the recall document, "the vehicle population was determined to include all ProMaster vehicles equipped with a 3.6-liter engine from the beginning of 2014 MY production on April 23, 2013, through September 14, 2019, when the vehicle manufacturing process was revised." If the shift cable separates, the shifter is no longer connected to the transmission. The driver, then, would not be able to shift properly, or the transmission could be in a different position than believed. If the driver thinks the vehicle is parked, but it is actually still in drive or neutral, the vehicle could unintentionally move. As a precautionary measure until the vans are checked and fixed, FCA suggests owners use the parking brake when parking these vehicles. FCA will begin notifying owners on March 13, 2020 and plans to replace the damaged parts free of charge.

New Winnebago Solis Pocket is the brand's smallest camper van

Winnebago, the brand whose iconic boxy motorhomes with the big "W" logo were a fixture at campgrounds back in the '70s, has since branched out into other RVs including camper vans. The company has just introduced its latest, the Solis Pocket, which is both its smallest and most affordable offering, but one that still packs a lot of features. As surfaced by Motor1, the Winnebago Solis Pocket is based on the Ram ProMaster van with a 136-inch wheelbase and is 17 feet 10 inches long. That makes it almost two feet shorter than the next-larger Solis 59P, which is based on the 159-inch-wheelbase ProMaster. The camper van is powered by a 3.6-liter V6 hooked to a six-speed automatic. That gives it a 3,500-pound towing capacity, and the van comes standard with a trailer hitch. At 113 inches tall and with a 6-foot 3-inch interior height, the Solis Pocket packs a lot into its small space. The camper van sleeps three, two in the drop-down Murphy bed at the rear of the rig and one in a two-seat dinette/sofa that converts to a small single bed. A kitchenette with a two-burner cooktop, a sink with a 20-gallon freshwater tank, and a mini-fridge are arranged on the passenger side of the van. A 3.2-gallon cassette toilet tucks under one of the dinette seats. The two front seats also swivel to face the interior. The price for the Solis Pocket is $95,736. Clearly, "least expensive" does not mean cheap. For reference, the Solis 59P starts at $107,821. If the whole #vanlife is starting to sound unattainable, maybe consider #trailerlife instead. Winnebago's camping trailers start at $22,172, and that roughly $73k cost differential would buy a pretty sweet tow rig. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.