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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

Didn't get the toy you wanted for Christmas? Grab this '79 Dodge Macho Power Wagon

This Christmas, kids everywhere got tons of toys, but what about the grownups? Adults like toys, too, and we particularly like this 1979 Dodge Macho Power Wagon pickup for sale on eBay. Dodge plugged it as one of its "adult toys" back in the day, which makes it the perfect post-Christmas purchase for anyone who's feeling a little left out. Dodge began advertising a lineup of specialty trucks as "adult toys" back in 1977, during the period when trucks were first becoming personal-use vehicles rather than just workhorses. Dodge's specialty models ran though the end of the decade and included the Street Van version of its B-series panel van, the Macho Power Wagon 4x4 pickup, the Warlock short-bed stepside pickup, the Ramcharger SUV, and even a variant of the Ram 50 mini-pickup. The Macho Power Wagon was a 4WD W100 pickup with a Sweptline bed, and could be had in short- or long-wheelbase configurations. Two-tone paint included black on the lower body, the hood, and the roof. Tape stripes, painted spoke wheels, and a bed-mounted roll bar added to the look. This '79 Macho Power Wagon is a long-bed version, riding on a 131-inch wheelbase. It's powered by a 318-cubic-inch V8 with dual exhausts, mated to a three-speed column-shift automatic and four-wheel drive. Not the most manly powertrain, maybe, but it was the late '70s, and one's engine wasn't as important as one's graphics. This Power Wagon's visuals make an emphatic statement indeed, with the two-tone white and black livery set off with bright orange stripes, wheels, and most critically, POWER WAGON emblazoned on the bed and tailgate. It's enough that we can forgive the missing roll bar. Inside, we find a vinyl bench seat, a floor-mounted shifter for the two-speed transfer case, and a period-correct Craig cassette stereo. Factory A/C is also present. Sure, you could get a new Ram 2500 Power Wagon, but would that really have the gold-chain-in-a-bed-of-chest-hair swagger of this beast? If this Adult Toy speaks to you, we would point out that sometimes the best presents are the ones you get yourself. Related Video:

Chrysler to reveal next minivan at 2016 Detroit Auto Show

All eyes in the industry are presently fixed on this year's Detroit Auto Show, but over at Fiat Chrysler Automobiles, they're already looking towards next year's show. That's when the Italian-American automaker says it'll unveil the next Chrysler minivan. The announcement, made on the FCA Corporate Twitter feed, promises that the next Pentastar minivan will debut in January 2016, which (along with the hashtag NAIAS) suggests the next-generation family hauler will debut at the Detroit show next year. Auburn Hills is expected to replace the current Chrysler Town & Country and Dodge Grand Caravan with two all-new models: one keeping the minivan form, and the other shifting into more of a crossover. Just which nameplate gets the new form factor, and which will debut at Cobo next year, we don't know. Odds are good that it'll be the minivan not the CUV, though. Chrysler's minivan has been a winning business for the Detroit automaker, pioneering the segment, outselling the competition and marketing around the world under more brands and nameplates than just about anything else in the industry. The vehicle has been sold as the Dodge Caravan, Chrysler Town & Country, Chrysler Voyager, Plymouth Voyager, Lancia Voyager, Ram Cargo Van and Volkswagen Routan, to say nothing of long-wheelbase Grand versions of many of the aforementioned nameplates. News Source: FCA via Twitter Detroit Auto Show Chrysler Dodge Minivan/Van Detroit 2016 Detroit Auto Show chrysler town and country dodge grand caravan dodge caravan