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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

Junkyard Gem: 1997 Dodge Ram 2500, Vanlife Edition

During my journeys through the big self-service car graveyards of Colorado's Front Range, I find some interesting art cars and labor-of-love hand-built camping vehicles, plus lots of machines with impressively high final odometer readings. Today's Junkyard Gem is one that combines all three types in one fascinating late-20th-century package. I shot these photos way back in December of 2019, just before the pandemic sent thousands of new adventurers pursuing #vanlife dreams on the roads of North America. This '97 Ram three-quarter-ton van is the third generation of a Chrysler van lineage stretching back to 1970. It began life as a 127" wheelbase cargo version with the Maxi stretched rear. The 2500 Maxi's total length of just over 19 feet made it a good starting point for a camper conversion. MSRP for this hauler was $19,600 when new, or about $36,505 in 2022 frogskins. So much work went into this Ram's interior fittings and exterior paint that I knew I'd be able to find something online about its history. After a few fruitless attempts soon after I shot the photos, I back-burnered my Adventure One Van research project for a while. Then, just last weekend, success! It turns out that this van was customized by Antonio de Irun, a multidisciplinary artist in Boulder, Colorado. He refers to this Dodge as an "Adventure Reform Van" and there's a page documenting its construction on the website of a Florida custom-van company. Most of the nice stuff that was inside got removed before the van entered the junkyard ecosystem, but you can see the general structure of the living and storage layout. Plenty of carpentry and upholstery work went into the Adventure Reform Van aka Adventure One. There's electrical wiring, insulation, everything needed for life on the road. Many, many hours of work must have gone into the intricate paint designs all over the vast expanse of Ram Maxi body. So why didn't this van survive into the era of pandemic vanlife? I think this odometer tells us why: 292,844 total miles, of which I'm assuming 200,000 miles were spent on a powertrain-punishing life of deliveries and trips to job sites. The engine is this 5.9-liter Magnum V8, a modernized version of the good old LA-series 360 equipped with the distinctive "beer barrel" intake manifold and rated at 234 horsepower and 330 pound-feet. The 360 first hit the road in the 1971 model year, with production of 360s and the later Magnum 5.9s continuing well into our current century.

Hennessey's Dodge Challenger Hellcat cranks out 1,032 hp

Enthusiasts know the Dodge Challenger Hellcat produces 707 horsepower. It's one of the modern muscle-car era's iconic numbers. But for some, that's not enough. Enter Hennessey Performance. The Texas tuners loaded the Hellcat with a twin-turbocharger that works with Dodge's supercharger to boost output to 1,032 hp and 987 pound-feet of torque. Yes, that's an engine dyno rating, not at the rear wheels, but still! It's a little more complicated than a bolt-on booster. Called the HPE1000, the turbo kit has stainless steel headers and down pipes, billet aluminum compressor wheels, and a high-flow air system. There's also an an improved fuel pump, and the engine and chassis are specially calibrated. You also get numbered plaques signed by John Hennessey himself and the engine tech who builds your mill. All of this helps get your Hellcat to 60 miles per hour in 2.7 seconds, and it can do the quarter mile in 9.9 seconds at 142 mph. The Hellcat and it's 6.2-liter blown Hemi V8 are not for the faint of heart. Hennessey makes this Dodge downright demonic. Related Video: Related Gallery 2015 Dodge Challenger SRT Hellcat View 23 Photos Image Credit: Hennessey Performance Dodge Coupe Performance