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Stellantis reports surprising 2020 results, is 'off to a flying start'

MILAN — Low global car inventories and cost cuts should boost Stellantis's profit margins this year, though a shortage of semiconductors and investments in electric vehicles could weigh on results, the newly-formed automaker said on Wednesday. The forecast came as Stellantis, created by the January merger of Peugeot-maker PSA and Fiat Chrysler (FCA), reported better-than-expected results for 2020 that sent its shares up around 3% in morning trading. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies (from the merger)," Chief Executive Carlos Tavares said in a statement. Stellantis is the world's fourth largest carmaker, with 14 brands including Fiat, Peugeot, Opel, Jeep, Ram and Maserati. It said 2021 results should be helped by three new high-margin Jeep vehicles in North America and a strong pricing environment there. The U.S. market has driven profits for years at FCA and starts off as the strongest part of Stellantis. The group's guidance assumes no more significant lockdowns caused by the global COVID-19 pandemic, which shuttered auto plants around the world last spring. Stellantis should also get a lift as its starts to implement a plan aimed at delivering over 5 billion euros a year in savings, without closing any plants. Tavares has also pledged not to cut jobs. But a pandemic-related global shortage of semiconductors, used for everything from maximizing engine fuel economy to driver-assistance features, could hurt business. Auto industry executives have said the shortage should ease by the second half of 2021. Stellantis said its "electrification offensive" could also weigh on results this year. Automakers are racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030. Stellantis plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025, broadly in line with plans at top rivals such as Volkswagen and Renault-Nissan, although Stellantis has further to go to meet that goal. The carmaker is targeting an adjusted operating profit margin of 5.5%-7.5% this year. That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.

Jay Leno drives the Demon-powered SpeedKore carbon fiber Dodge Charger

Jay Leno drives all sorts of wild vehicles on his TV and YouTube series "Jay Leno's Garage," from concept cars to classics. Although many of the vehicles are museum quality, they don't all come through in straight by-the-book factory form, as Leno often likes to highlight the creative and insane builds from premium speciality aftermarket shops. One of his favorites is SpeedKore, which recently dropped by with its carbon-fiber-bodied 1970 Dodge Charger Evolution. After cementing itself as one of the best builds of the year at SEMA 2018, the high-performance Charger paid Leno a visit to show off its immaculately assembled blend of classic and modern Dodge. It's not the first time SpeedKore has stopped by, as they've previously shot videos together of the 1967 Chevrolet Camaro, the 2016 Ford Mustang Shelby GT350R, and the 1970 Dodge Charger Tantrum. The Charger featured here wears its Evolution name because it is an updated take on the Tantrum build (which had 1,650 horsepower, by the way), but the two are quite different. The Charger Evolution uses numerous parts from Dodge's recent superstars, the Challenger SRT Hellcat and the Challenger SRT Demon. In fact, it's one of the only ways in the world to drive a Demon engine with a manual transmission. Under the hood is the 6.2L Supercharged Hemi V8 from a Demon pre-production car, and SpeedKore has tuned it up to 966 horsepower. It pairs with a Tremec M6 6060 six-speed transmission from the Hellcat. At full bore, the whine of the supercharger paired with the grumble from the custom stainless steel SpeedKore exhaust headers makes for a thrilling, if not unharmonized, battle cry. Whereas some restomods have cut corners, shoddy build quality, or imperfect fittings, Leno notes that SpeedKore's work is top-notch, despite the entire exterior body and many pieces of the interior being fully replaced with glossy clear-coated exposed carbon fiber. According to SpeedKore Vice President Dave Salvaggio, the Charger weighs about 3,400 pounds. Check out the full video above or read full details from our time with the car at SEMA. And as a bonus, Autoblog photographer Drew Phillips recently got to spend a day shooting the Charger. His gallery of photos appears below. Speedkore 1970 Dodge Charger View 53 Photos

Rare Dodge Shelby Dakota is a very '80s sport truck

The late-great Carroll Shelby built an incredibly successful career of making all sorts of cars faster, more often than not, with a bigger or more potent engine under the hood. The icons are well known—legends like the Shelby Cobra, GT350 Mustang, and the big GT500. But by the 1980s, Shelby was plying his trade over at Chrysler, at the behest of chairman Lee Iacocca, churning out special editions like the Dodge Shelby Charger, zippy CSX, rorty GLHS, and this—the 1989 Shelby Dakota muscle truck. 1,500 of these racy pickups were built for just one year and a whole two-and-a-half decades later they still turn heads. This one especially. The spotless pickup recently turned up for sale online , and its odometer reads a claimed 25,307 miles. So what makes these rarified work trucks special? As with most Shelbys, it starts under the hood. Up until 1989, the standard Dodge Dakota pickups were offered in only four-cylinder and V6 variants. But Dodge (and Shelby) wanted more, so the larger 5.2-liter Magnum V8 from Dodge's full-size pickup was shoehorned into the midsize Dakota, albeit not effortlessly. To fit, Dodge had to swap the V8's belt-driven fan for an electric unit mounted in front of the radiator. That did the trick, as well as earned the V8 a few extra ponies, pushing the special Dakota up to 175 horsepower and 270 lb.-ft. of torque. That performance may sound paltry by today's standards, but in 1989 it was seen as quite sporty, and netted a zero to 60 mph dash in 8.5 seconds. A four-speed automatic with lockup torque converter transmitted that power to the rear wheels. Additional Shelby performance goodies included a limited-slip differential, transmission cooler, along with a host of eye-catching body mods, including a unique air dam and bumpers, Shelby floor mats, monogramed seats and door panels, a "CS" steering wheel, 15-spoke hollow alloy wheels, and shouty body graphics. While the Shelby Dakota didn't return for 1990, its V8 legacy did continue, and in 1991 the 5.2-liter eight-cylinder became an option on new Dakotas. Of the 1,500 Shelby Dakota pickups built, 860 were dressed in red while a rarer 640 came adorned in Bright White. This '89 is said to be #245 of those white trucks, sold new to its original (and sole) owner in Mechanicsburg, Pennsylvania, for $15,985 (the Shelby package cost $3,933 in its day). Currently, it's demanding bids north of $10,000 for its low-mileage originality. Related Video: This content is hosted by a third party.