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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

Say goodbye to the Dodge Dart and Chrysler 200

Fiat-Chrysler CEO Sergio Marchionne outlined an update to the company's five-year business plan Wednesday, and among the changes, the Dodge Dart and Chrysler 200 sedans will soon be phased out. The company's presentation to investors states that the "market shift from cars to trucks and UVs [utility vehicles is] now seen as permanent shift in demand," and FCA wants to respond as quickly as possible. Killing the 200 and Dart will allow FCA to build more Jeep and Ram models at the Sterling Heights, MI, and Belvidere, IL, plants where the sedans were produced. We already knew FCA was planning to shift 200 and Dart production to Mexico, to free up the Sterling Heights facility for Ram 1500 production, and the Belivdere site for Jeep Cherokee output. The Cherokee will move from its current home in Toledo, OH, to allow for increased Wrangler production. It's no shock that FCA wants to shift its focus to crossovers and trucks. In December 2015, for example, combined sales of the Dodge Dart and Chrysler 200 were 15,310. The Jeep Cherokee, which uses the same platform as the Dart and 200, outsold both models combined, with 24,049 sales. Both the Dart and 200 had troubles from the beginning. Marchionne recently blamed designers for the 200 not receiving a Consumer Reports 'recommended' rating, and the Dart was one of the lowest-scoring cars in a CR reliability study. Featured Gallery 2013 Dodge Dart: Review View 27 Photos Related Gallery 2015 Chrysler 200 View 43 Photos Image Credit: Copyright 2016 Drew Phillips / AOL Chrysler Dodge Jeep RAM FCA confirmed

Dodge Journey to get a performance-focused replacement in 2022?

The Dodge Journey is neither fast nor agile, but it has proved a hard-to-hit target for everyone trying to figure out what the next generation will hold, including Fiat Chrysler. In 2014, the automaker's five-year plan for Dodge included an all-new Journey in 2016, and a hotted-up SRT version of the crossover come 2017. In 2016, "supplier sources" told Automotive News a new Journey on rear-drive Alfa Romeo's Giorgio platform would show for the 2019 model year, and production would be moved from Mexico to Italy, Those prognostications came to naught, the 11-year-old Journey riding on its Mitsubishi-based platform into 2020 with fewer options. Now Mopar Insiders says the next-gen Journey could come in 2022 as an early 2023 model, still on the Giorgio platform and given a performance-focused brief. According to MI, the new Journey — and it's not clear if the name will be retained — comes in strict two-row, five-seater guise. It "will be around the size of the Stelvio," the Alfa Romeo coming in at 184.5 inches. Previous reports have said the Journey will be shorter than the current 192.4-inch model, but longer than the Stelvio. The Dodge Charger is said to donate major styling cues, and there will supposedly be a Scat Pack trim. Under the hood, the entry-level engine will be the same GME 2.0-liter four-cylinder in that makes 276 horsepower and 306 pound-feet of torque in the Stelvio. MI believes a Hemi V8 will make the options list, hence the Scat Pack. Previously, other outlets have figured a turbo V6 like that in the Alfa Quadrifoglio models will stand in as the upgrade, although the model is "being developed with V8s in mind." Any engine choice is expected to be paired with an eight-speed transmission. All of those options far outdo the 2.4-liter four-cylinder with 172 hp and 165 lb-ft, shifting through a four-speed automatic, which is the only powertrain possible for the 2020 Journey. The platform switch and the change to rear-drive will greatly enhance on-road manners and performance, but MI believes an all-wheel-drive option should make the transition. If Journey production moves to Italy from Mexico, Fiat Chrysler will open up capacity in North America for big-profit crossovers and trucks, and get more from its underutilized European operations. Rumor says the Journey would roll down the same lines as the Stelvio in the Cassino Assembly Plant; the crossover is still sold in Europe and other markets as the Fiat Freemont.