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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

Police officer fired for sexually harassing a young woman

A police officer in Jackson, Mississippi was fired after a video surfaced on Tuesday of him sexually harassing a young woman from his patrol car. According to WAPT, Officer Darryl Stasher of the Jackson Mississippi Police Department rolled up to two young women walking down the street and began talking to them through the driver's side window of his patrol car. During his discourse, his language because coarser and more suggestive. He gave one young woman his number and told her that he was "going to take care of her" and that he wanted to "do more than talk". He also suggested that the two should "get a room" together. The whole exchange was caught on video, and soon after the incident the young woman uploaded the footage to Facebook where it quickly went viral. It didn't take long for the Jackson Police Department to get wind of the video. "The Jackson Police Department does have possession of the video that was posted to Facebook by the young lady," said JPD Commander Tyree Jones. "Chief (Lee) Vance found the video to be very disturbing. He is very disappointed due to the content that's in the video." Upon learning of the video, JPD put Officer Stasher on desk duty pending the results of an internal affairs investigation. Stasher, who worked for at least eight years for JPD in the second precinct, was fired soon after the investigation finished. Related Video:

Ralph Gilles shares how he imagined a modern-day Dodge Rampage in 1995

Fiat-Chrysler Automobiles (FCA) design boss Ralph Gilles kicked off the company's 24-hour Design Sketch Battle by sharing an image of a mini-truck he drew in 1995. Called Tomahawk GTR, it never reached production. Gilles sketched the Tomahawk GTR when he was about 25 years old. He was a designer at the time, he wasn't promoted to a managerial position until 1998, and his obsession with performance already permeated the cars he drew. The Tomahawk GTR takes the form of a two-door, two-seater pickup with a muscular-looking front end, pronounced wheel arches, and a sizable spoiler over the cargo box. The wheels look almost Porsche-like. "I guess I was dreaming up a modern-day Rampage back then. This must be what happens when a want-to-be racer draws a truck," he wrote on his Instagram page, referencing the small, unibody pickup Dodge made from 1982 to 1984. His sketch moved the company's then-current design language in a sportier direction. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Dodge hasn't released a successor to the Rampage yet, at least not in the United States. The Fiat-based 700 that sister company Ram sells in Mexico is the closest thing available in 2020, but there's no indication it will be sold in America anytime soon. The firm used the Tomahawk name on a Viper-powered motorcycle concept introduced in 2003, and it dusted it off again for an SRT design study created in 2015 for Gran Turismo.  We may see a Rampage for the 2020s emerge from the Design Sketch Battle. The photo accompanying FCA's announcement depicted a Dodge Challenger Hellcat turned into a pickup and fitted with a front end borrowed from a Ram 1500. The contest's winners will be announced on Instagram today.  Instagram has recently turned into a window through which enthusiasts can peek into Gilles' mind. He published a futuristic-looking sketch in March 2020 that poked fun at the Charger and Challenger owners who leave the yellow protective stripes on their car while potentially shedding light on Dodge's next design language. Design/Style Dodge Truck