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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

Camel-power and Challengers | Autoblog Podcast #510

On this week's podcast, Mike Austin and David Gluckman are in a huddle room, because the studio was already taken. We talk about the Dodge Challenger GT all-wheel-drive and who would want one. (And a correction we'll mention in next week's podcast - the trunk lid on the Challenger does wrap around vertically for a decent-sized opening.) Then David has a new performance metric to introduce, proposed by Nissan. The episode wraps up with the traditional doling out of Spend My Money buying advice, with an update on the feasibility of the one-year Ferrari financial plan. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want buying advice of your very own, send a message or a voice memo to podcast at autoblog dot com. (If you record audio of a question with your phone and get it to us, you could hear your very own voice on the podcast. Neat, right?) And if you have other questions or comments, please send those too. Autoblog Podcast #510 Topics and stories we mention Dodge Challenger GT Long-term Mazda MX-5 Miata Mazda CX-5 Nissan Camelpower The Alchemist by Paolo Coelho Used cars! Rundown Intro - 00:00 What we're driving - 02:11 Camelpower - 17:28 Spend My Money - 24:39 Total Duration: 44:17 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Podcasts Dodge Car Buying dodge challenger gt

2019 Dodge Challenger SRT Hellcat Redeye priced $14,000 below Demon

Steve Beahm, head of Passenger Car Brands at Dodge, SRT, Chrysler, and Fiat, told Motor Trend that the 2019 Dodge Challenger SRT Hellcat Redeye is "a Hellcat that's been possessed by a Demon." Turns out the Hellcat Redeye was also possessed by The Ghost of Great Deals. Dodge just released pricing for the Challenger line, the crimson-eyed terror at the top starting at $69,650, which is $13,645 less dear than the $83,295 MSRP for the 2018 Challenger SRT Demon. The asterisk: the Redeye needs the same $1,345 destination charge and $1,700 gas guzzler tax as the 2018 Demon, so the difference still holds once you get the Redeye off the dealer lot. The final tally: $72,995. Torque News acquired a copy of the Challenger dealer order guide, and options on the Hellcat Redeye will run you a little more than the bucket of $1 options on the Demon. Among the list, the summer performance tires add $695, the optional 3.09 rear axle adds $1,095, a painted black hood costs $1,995, and the Widebody package adds $6,000 for it's extra 3.5 inches. According to TN, you can run a standard Hellcat Redeye up to almost $90,000, and push a widebody to $95,000. The standard Challenger SRT Hellcat gets touched by the bargain bogeyman, too: the price goes down by $5,645 for 2019 to $58,650, even though it's been uprated by ten horsepower to 717 hp, and by six pound-feet to 656 lb-ft. Out-the-door price after a $1,700 gas guzzler tax and $1,345 destination fee is $61,695. Before including destination, there's a long way down to the next model, the 485-horsepower Challenger R/T Scat Pack at $38,995. Buyers who choose the six-speed manual for this trim will pay a $1,000 gas guzzler tax. The V6-powered, 305-hp Challenger GT in two-wheel drive starts at $29,995. Sending power to all four of the GT's wheels needs $32,995 before destination. The base model, two-wheel drive SXT gets the Challenger doors open at $27,295, the all-wheel drive model costing $30,295. Related Video: