2009 Dodge Journey R/t on 2040-cars

Auto blog

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

Lee Iacocca's very first Dodge Viper RT/10 nets $285,500 at auction

The first 1992 Dodge Viper RT/10 to roll down the assembly line, which was snapped up by Chrysler chief Lee Iacocca, yesterday hammered at the Bonhams auction in Arizona for $285,500, more than double the pre-sale estimate. According to a history of the car published by the auction house, Iacocca, in his introduction of the Viper to the press, pointed to the car on stage and said, "This one right here is mine." That historic Viper, with serial number 001, has never been available on the open market, as Iacocca kept the car from new until he passed away last year. The car has been driven just 6,200 miles and was being sold by his estate. Other Lee Iacocca cars offered at the same sale fared less well. A 1986 Chrysler LeBaron Town & Country convertible — the ultimate expression of Iacocca's company-saving K-cars — with 20,500 miles on it sold for $19,040. That's less than the $20,000 to $25,000 the auction house had estimated the car would bring. A third car from the former auto executive's estate was a customized 2009 Ford Mustang. The pony car was one of a limited run of 45 Iacocca-branded custom Mustangs, which were reworked by Metalcrafters and sold by Galpin Ford in Los Angeles. The Iacocca Mustang, never titled and with 220 miles on it, hammered for $49,280. Related Video:     Featured Gallery Lee Iacocca's 1992 Dodge Viper RT/10 View 13 Photos Celebrities Chrysler Dodge Auctions Automotive History

Dodge Durango could get eTorque mild hybrid system in 2020

The 2020 Dodge Durango appears slated to get a mild-hybrid powertrain option. That's the word from moparinsiders.com, which unearthed the news from documents relating to contract negotiation between the FCA and the UAW. Although the documents give no further details, it's a pretty safe bet that we're talking about Chrysler's eTorque mild-hybrid system, which was introduced on the Ram 1500 pickup and has since been extended to the Jeep Wrangler. Currently, the Wrangler offers the eTorque system on the 2.0-liter inline-four and the 3.6-liter Pentastar V6, both on the Sahara model only, while the Ram 1500 makes the mild-hybrid system standard with the 3.6-liter V6 and an option with the 5.7-liter Hemi V8. The V6 eTorque powertrain makes 305 horsepower and 269 pound-feet of torque (Ram) or 285 horsepower and 260 pound-feet (Wrangler). The Wrangler's four-cylinder eTorque is good for 270 horses and 295 lb-ft. The V8 version in the Ram is good for 395 horsepower and 410 lb-ft of torque. In all cases, the eTorque system does not increase peak output over the standard version of the gasoline engine. The mild-hybrid system does provide a minor fuel-economy boost. In the Wrangler, the 3.6-liter with eTorque has EPA city estimates that are 1 mpg better than without the system. On the Ram's V8, eTorque adds 2 mpg city and 1 mpg highway. (The 2.0-liter sees no improvement in its EPA ratings.) It's not known whether the Durango will add eTorque to its V6, or V8, or both. Either engine could do with a fuel-economy boost, as the V6 is EPA rated at 19/26 mpg city/highway (RWD) and 18/25 mpg (AWD), while the V8 version has estimates of 14/22 mpg. Related Video: