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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

Ram 1500 EV shown in more clarity with new teaser images

Besides the first electric Jeep and other product plans, Stellantis gave us yet another preview of the upcoming electric Ram 1500 pickup truck. The company isn't giving much away, but these new renderings do give us some more details on what the truck will look like. The most striking features of the front are the pairs of LED lights above and below that meet toward the middle in a sort of dog bone shape. In the middle is the updated Ram logo that's been featured for its "Ram Revolution" program that takes input from Ram fans for designing the truck. The hood has creases that are suggestive of the dual-level, semi-truck-inspired design that has stuck with the truck since the 1990s. It also seems to have a heat-extractor vent design, which we're not sure would really be functional on an electric truck. Along the sides, the fenders appear to be pushed far outward. The edge where the cab meets the bed has a jog in it that pushes into the cab. It has us thinking the cab and bed may be one piece, along the lines of the Chevy Silverado EV. That single piece will still ride on a separate frame, though, since the Ram 1500 EV will be built on the STLA Frame platform. Continuing on the topic of side styling, the window sill rises toward the rear pillar, and that rear pillar leans forward, again more like the GM electric truck designs. At the back, the electric Ram has taillights that connect into the tailgate like the Ford F-150 Lightning. The shape also echoes that of the headlights, along with the illuminated Ram logo. The rear shot also gives more clarity on the unique cab design. The electric Ram will go into production in 2024. As touched on, it will use the STLA Frame platform that features a traditional separate frame from the body. The platform can accommodate 159 to 200 kWh of battery capacity with a range of up to 500 miles. Early renderings also show the platform using independent suspension both front and rear. Furthermore, Ram has said it will offer a plug-in hybrid variant based on the electric model to go on sale the same year. And electrification won't stop at the 1500.

Sunday Drive: Taking a gaze into the automotive crystal ball

Mankind has long been fascinated by the future. So it makes sense that this past week's top stories were all about cars, trucks, and SUVs that won't be hitting the market until the 2019 model year. And right at the top of the list is the Ram 1500. We've come to know Ram as the truck maker that styles its pickups with cues cribbed from big rigs, but that look has slowly evolved over time into something uniquely its own. The next Ram 1500 continues this trend, with a newly refined look that we can't wait to see in person. Up next is the 2019 Chevy Silverado. Pickup trucks have been, continue to be, and will remain the best-selling vehicles in America. And General Motors is a leader in the field, with two distinct offerings with which to entice buyers, one from the bread-and-butter Chevrolet brand and one wearing the slightly more upscale GMC badge. The Chevy looks to get LED lighting elements for 2019, which ought to keep the truck from looking dated when compared to the Ford F-150 and the previously mentioned Ram 1500. From there we move past pickup trucks and into SUVs and sedans. The 2019 Jeep Cherokee looks to get toned down a bit with its next refresh, and the '19 BMW 3 Series continues its slow evolutionary journey at the top of its aspirational sales pedestal. Finally, spy shots give way to official production reveals for the 2019 Audi A7 and Polestar 1. This pair of European luxury cars won't compete with one another – one is a rakish hatchback and the other a sports coupe – any further than for the eyeballs of our readers, but both proved popular enough to merit inclusion in our weekly roundup. As always, tune in to Autoblog next week for a front-row seat to all the happenings worth following in the automotive industry. 2019 Ram 1500 spotted without the classic crosshairs 2019 Chevy Silverado spied with new LED accents 2019 Jeep Cherokee reveals a much more normal face 2019 BMW 3 Series spy shots reveal production lights, new interior details 2019 Audi A7 revealed: More torque, refined styling Polestar 1 First Look | The 600 horsepower hybrid Scandinavian Green Audi BMW Chevrolet Jeep RAM Volvo Truck Hatchback SUV Future Vehicles Hybrid Luxury Performance Sedan sunday drive polestar 1