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Stellantis says its 2021 performance has been better than expected

MILAN — Stellantis softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better-than-expected start despite a chip shortage that has hit automakers worldwide. Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla. At its "EV Day 2021" kicking off at 1230 GMT, Stellantis will disclose significant investments in electrification technology and connected software as it aims to be an industry frontrunner, it said in a statement. In April, Chief Executive Carlos Tavares said it would offer low-emission versions — either battery or hybrid electric — of almost all of its European models by 2025, and they should make up 70% of European sales and 35% of U.S. sales by 2030. Stellantis, the world's fourth-biggest automaker, has 14 brands in its stable, including Jeep, Ram, Opel, Fiat, Peugeot and Maserati.   Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected   At a similar EV strategy event last week, French rival Renault announced that 90% of its main brand models would be all-electric by 2030, whereas previously it had included hybrids in its target. Germany's Volkswagen, the world's second-biggest automaker after Toyota, expects all-electric vehicles to make up 55% of its total sales in Europe by 2030, and more than 70% of sales at its Volkswagen brand. Stellantis said its margins on adjusted operating profits in the first half of 2021 were expected to exceed an annual target of between 5.5% and 7.5%, despite production losses due to a global shortage of semiconductor supplies. Stellantis shares listed in Milan were down 2.6% at 0920 GMT, underperforming the broader European car index. Bestinver analyst Marco Opipari said Thursday's news was positive but that the stock was suffering from profit taking as it had moved up about 20% since the end of April.

Dodge pumps power to the people with $10 discount per horsepower

Dodge announced an incentive program named Power Dollars, which represents the next step in its mission to bring horsepower to the people. Starting on August 1, the automaker is luring enthusiasts into its showrooms by offering a $10 per horsepower discount on select models. The Power Dollars program applies to the 2019 Challenger (pictured), the 2019 Charger and the 2019 Durango. It's as simple as it sounds: if you buy a 500-horsepower car, you benefit from a $5,000 discount. The more horsepower you choose to put in your garage, the more money you save when you sign the dotted line. The 797-horsepower Challenger Hellcat Redeye comes with a $7,970 discount. At the other end of the spectrum, the Charger SXT powered by a 3.6-liter V6 rated at 292 horsepower is eligible for a $2,920 rebate.  The Grand Caravan has 283 horsepower, so it's not far from the Charger SXT, but it's not included in the program. The Journey with the same 3.6-liter V6 engine isn't in it, either. Dodge launched the Power Dollars program to boost sales, and likely to clear the remaining 2019 models out of its inventory before the 2020s arrive. But the company has another reason to make its muscle cars cheaper, one we don't think we've heard from an automaker yet. "Since bringing the Charger and the Challenger back to the market, Dodge has put 485 million horsepower into the hands of our loyal enthusiasts. The goal is to grow to a half-billion horsepower before the end of the year," explained Tim Kuniskis, the global head of Alfa Romeo, and FCA's head of passenger cars in North America, in a statement. It's 15 million horsepower short of the milestone. It needs to sell about 18,820 examples of the Hellcat Redeye to reach its goal, or approximately 51,370 units of the Charger SXT.   

Final Dodge Demon and Dodge Viper to be auctioned off for charity

A little while ago we wrote about the Viper factory being recommissioned into a museum, that will hold the historic cars originally evicted from the Walter P. Chrysler museum. Now, what happened to the last Viper that factory built? It's getting auctioned off, in good company. Barrett-Jackson is auctioning the last 2017 Viper built, together with a 2018 Dodge Challenger SRT Demon said to be the last Demon produced. Crossing the block in June in Uncasville, Connecticut, the pair of cars produces a total of 1,485 horsepower, of which the Demon accounts for 840 horses and the Viper for 645. Both are finished in bright Viper Red, and yes, the Demon will include the optional passenger seat. All proceeds from the sale will go to charity, to United Way. "Pairing the last Dodge Challenger SRT Demon and the Dodge Viper production cars – two of America's most sought-after vehicles – under the roof of Barrett-Jackson gives someone the 'last' chance to own this unique piece of automotive history, and Dodge//SRT the opportunity to raise money for a cause close to our hearts", said FCA's Steve Beahm. In addition to the cars, the sale will include memorabilia and a Demon Crate, which includes narrow, drag-spec front tires, performance modules and track tools. The auction is held from June 20th to 23rd. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: FCA Dodge Auctions Coupe Performance FCA dodge demon