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Stellantis, GM pay $363 million in U.S. fuel economy penalties

WASHINGTON — Stellantis and General Motors paid a total of $363 million in civil penalties for failing to meet U.S. fuel economy requirements for prior model years, documents seen on Friday by Reuters show. The record-setting penalties include $235.5 million for Stellantis for the 2018 and 2019 model years and $128.2 million for GM covering 2016 and 2017, according to the National Highway Traffic Safety Administration (NHTSA), which administers the Corporate Average Fuel Economy (CAFE) program. Stellantis — which also owns Fiat, Peugeot and other marques — said the penalty "reflects past performance recorded before the formation of Stellantis, and is not indicative of the companyÂ’s direction." Stellantis previously paid a total of $156.6 million in penalties for the 2016 and 2017 model years. GM said Friday as "we work towards the goal of a zero-emissions future, we may use a combination of credits from prior model years, expected credits from future model years, credits obtained from other manufacturers, and payment of civil penalties to comply with increasingly stringent CAFE regulations." GM, which sells Chevrolet, Buick, GMC and Cadillac vehicles in the U.S., had not previously paid a fine in the 40-year history of the CAFE program. It had initially planned to use credits to meet its compliance shortfall but opted to pay penalties, NHTSA said. The GM and Stellantis penalties were paid between December and May, according to the records. This is the first time in three years the agency has collected fuel economy penalties. NHTSA in April 2022 said it calculated there would be 11 instances between 2018 and 2021 "where substantial civil penalty payments will have to be made," but did not disclose the automakers involved. The disclosure comes ahead of NHTSA's plan to soon propose more stringent fuel economy standards for 2027 and beyond, after the Environmental Protection Agency in April proposed a 56% reduction in projected fleet average emissions over 2026 requirements by 2032. Sharp increase The EPA said in December Stellantis had the lowest real-world fuel economy among all major automakers, at 21.3 miles per gallon on average in 2021, while GM was second-lowest at 21.6 mpg. In March 2022, NHTSA reinstated a sharp increase in penalties for automakers whose vehicles do not meet fuel efficiency requirements for 2019 and beyond.

FCA posts $716m profit in 2014, has big plans for 2015

In practically every metric, Fiat Chrysler Automobiles announced growing worldwide earnings for 2014 in its latest financial release. The automaker sold 4.608 million vehicles globally for the year, a 6-percent jump, and total revenue grew 11 percent to 96.090 billion euros ($109 billion). Profits before taxes also increased by 161 million euros ($182 million) from last year to 1.176 billion euros ($1.3 billion). However, net profits did tumble by 1.319 billion euros ($1.5 billion) to a total of 632 million euros ($716 million). These figures put FCA slightly ahead of what some analysts expected. According to Automotive News, the company's adjusted earnings before taxes and interest of 3.651 billion euros ($4.1 billion) beat a forecast figure of 3.4 billion euros ($3.9 billion). Regionally, Europe is showing signs of a comeback. FCA lost 109 million euros ($123 million) there in 2014, but that was almost a triumph compared to the 506 million euro ($573 million) loss in 2013. According to Automotive News, North America played a major role in the company's success, accounting for 55 percent of its revenue. While these annual figures show growth, FCA is even more optimistic about its prospects in 2015. The company is forecasting shipments of between 4.8 and 5 million vehicles worldwide next year. It also estimates earnings before interest and taxes to reach 4.1 billion and 4.5 billion euros ($4.6 billion – $5.1 billion). You can read FCA's full results in PDF format, here. While this release focuses on worldwide figures, FCA US, previously known as Chrysler Group, announces its US results on February 3. News Source: Fiat Chrysler Automobiles, Automotive News - sub. req. Earnings/Financials Chrysler Fiat FCA fiat chrysler automobiles

Chrysler reportedly showed its dealers an electric 300 replacement

The Chrysler 300 is nearly ready to retire after almost 13 years in production. Details about its successor haven't been released, but a recent report claims that the Stellantis-owned brand privately showed some of its dealers an electric model that will take the sedan's torch. Citing anonymous dealer sources, enthusiast website Mopar Insiders wrote that the yet-unnamed model takes the form of a sedan with a fastback-like roof line. Some attendees drew a parallel between the EV and the prototype shown in renderings (pictured) in 2021; others pointed out its proportions and size are reminiscent of the Dodge Charger Daytona concept, which will reach production in the coming years. Nothing is official, but we wouldn't be surprised if the Charger Daytona spawns a Chrysler; the current-generation Charger shares its basic platform with the 300, after all, and building several vehicles on the same platform is a way for carmakers to reap economies of scale. One point worth noting is that Dodge executives have confirmed the architecture that will underpin the next Charger is compatible with the straight-six engine found in several Stellantis products. If it fits in the Dodge, it's reasonable to assume it fits in the Chrysler. Dodge hasn't announced plans to offer the Charger with the straight-six engine and neither has Chrysler; executives haven't revealed what comes after the 300, though company CEO Christine Fuell told Autoblog that there are "quite a bit of new products in our roadmap." The rumor echoes an earlier report that details an alleged 300 successor due out in 2026 with battery power, between 201 and 443 horsepower depending on the variant, and an 800-volt electrical architecture for faster charging. This hasn't been confirmed, however. As of writing, the only upcoming model that Chrysler has announced is a production version of the Airflow Vision we first saw as a very futuristic concept at CES 2020, as a more realistic design study at CES 2022, and with a black finish at the 2022 New York Auto Show. Regardless of whether the 300 gets replaced and what replaces it, at least Chrysler seemingly has a future — it was skating on perilously thin ice when Fiat-Chrysler Automobiles (FCA) and PSA Peugeot-Citroen merged to form Stellantis in 2021. Greg Migliore, Autoblog's editor-in-chief, argued in favor of keeping the brand alive, and dealers pleaded that letting the 97-year-old carmaker die wasn't an option.