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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

Dodge Viper might not live past 2017

The Dodge Viper might be running out of venom because the muscle-bound sports car could be on the road to being cancelled in just a few years. According to Allpar, the proposed deal between the United Auto Workers and FCA US would close the Connor Avenue Assembly plant, which produces the Viper, in 2017. The proposed union contract doesn't give a reason for closing the factory, but the decision is understandable if frustrating. The plant was idled twice last year to reduce production of the Viper to match flagging demand. A $15,000 price cut for the coupe eventually allowed for a sales surge, but that appetite hasn't continued in 2015. From January through September of this year, the company has only moved 503 of the sports cars, down eight percent. To further spur demand, Dodge has employed a few other tactics like the 1 of 1 program for buyers to personalize their Vipers, and the introduction of the brutally track-focused ACR. In a world where high-end sports cars are continuing to get friendlier for both their drivers and the environment, the Viper remains a holdout with a big, naturally aspirated V10. Even with the addition of some electronic aids on the latest Vipers, the snake still demands respect from those behind the wheel. Respect is fine, but sales are what matter to FCA – and the harsh reality is that a lack thereof might force the Viper into retirement, whether we like it or not.

2019 Dodge Challenger Review and Buying Guide | Cause we still review awesome cars, too

The Dodge Challenger has now been kicking around without a complete redesign for a decade, yet it actually seems to be getting more popular in its old age. Credit a substantial overhaul a few years ago, constant tinkering, and a yearly roll out of exciting new variants. For the 2019 Dodge Challenger, we welcome the 797-horsepower Hellcat Redeye and R/T Scat Pack Widebody. However, there's an inherent honesty and unique goodness to the Challenger that allows it to still duke it out with the Ford Mustang and Chevy Camaro – despite those age-old rivals' transformation into something more akin to a sports car. The Challenger, by contrast, is 100% muscle car more concerned with straight-line performance than handling precision. It's also much bigger and practical, lending itself better to daily driver duty. That, plus its distinctive style and diverse model lineup, make it easy to see why the Challenger continues to enjoy such massive success. You can certainly count us among its fans. What's new for 2019? We say goodbye to the SRT 392 and Demon, but hello to the 797-horsepower Hellcat Redeye and R/T Scat Pack Widebody. The regular Hellcat gets a 10-hp bump as well as a new "dual snorkel" hood. Further down the Challenger pecking order, you can now get all-wheel drive on the base SXT. What's the interior and in-car technology like? The Challenger's interior certainly isn't as characterful and flamboyant as its exterior would suggest. The Mustang and Camaro are more interesting and distinctive inside. Still, there are some interesting design flourishes that spruce things up, from the base trim's standard houndstooth cloth to the two-tone leather choices available as options. Besides, we're not sure how flamboyant you need the interior to be in a car available in electric orange, blue, green and purple paint colors. Furthermore, what the Challenger interior may lack in visual pizzazz, it makes up for with space (see below) and technology. A 7-inch touchscreen is standard, but all trim levels have an 8.4-inch version available as an option or standard. Both are among the easiest to use in the industry, and we prefer the 8.4-inch unit in particular to what's offered by the Camaro and Mustang. Heck, the Ford doesn't even come standard with a touchscreen, let alone the Apple CarPlay and Android Auto that are included on every Challenger. How big is it? For a performance coupe, the Challenger is enormous.