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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

Here's the last Dodge Viper

The last Dodge Viper has rolled off the line. Ralph Gilles, FCA's Head of Design since April 2015, posted a photo gallery on Instagram with the caption "So long... #Viper." The gallery includes multiple photos of the Conner Avenue Assembly Plant in Detroit, where the Dodge Viper has been built since 1995. In the gallery, we see a yellow unit with black stripes coming down the line, and Gilles is posing in front of it with Dodge/SRT Head of Design Mark Trostle. The yellow Viper is followed by a red car, with nothing else behind it on the line. That red Viper is "the ultimate last one," according to Gilles, adding that the automaker will be holding onto that unit for the company's heritage collection. You can click through the gallery here: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. When asked in the comments if the Viper was discontinued because of low sales, Gilles replied, "Not really as it sold well over the last couple of years at a great mix of mostly ACRs in the last 15 months. It has more to do with a new ejection mitigation regulation airbag that simply won't fit in our package." Despite the solemnity of the post, Gilles is upbeat about the Viper in general, saying "The Gen5 had a great 5 model year run and the Viper platform which has not changed that much over the years had a great 25 year run!" He says he has great memories with the car, and that "they are relatively robust so they will be around making memories for generations to come!" Still, we hope to see something that lives up to the Viper's wild, raw spirit come from FCA in the near future. Related Video: Related Gallery Roadkill Nights Dodge Vipers 2017 View 40 Photos News Source: Instagram: @ralphgilles Plants/Manufacturing Dodge Automotive History Coupe Performance Supercars FCA viper

All-wheel-drive Dodge Challenger GT confirmed by EPA website

The US Environmental Protection Agency accidentally confirmed the upcoming Dodge Challenger GT by posting fuel economy figures for the all-wheel-drive variant of the muscle car. According to FuelEconomy.gov, the Challenger GT, which will come with the 3.6-liter V6 when it's released, is rated to get 18 miles per gallon in the city and 27 miles per gallon on the highway, giving the vehicle a combined rating of 21 miles per gallon. Those figures are slightly lower than the rear-wheel-drive Challenger with the same engine, which gets 19 miles per gallon in the city and 30 miles per gallon on the highway. While previous reports indicated that Dodge is planning to release the all-wheel-drive Challenger GT sometime in 2017, the automaker hasn't confirmed the vehicle. (Mopar's all-wheel-drive concept from last year's SEMA Show is pictured above.) With the EPA putting out the car's official fuel economy figures, the all-wheel-drive muscle car is definitely coming, and should be here before the entire Challenger lineup gets its expected redesign in 2018. And yes, we're still hopeful that the so-called Challenger ADR we saw in spy photos means we'll see all wheel drive and Hellcat power. Because Hellcat everything. Related Video: