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Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall

Chrysler's Jefferson North plant builds 5-millionth SUV [w/video]

Chrysler's Jefferson North Assembly Plant opened in 1992 for production of the first Jeep Grand Cherokee, but in the subsequent years, the Detroit plant has gone on to produce some of the company's biggest SUVs including the Jeep Commander and Dodge Durango. Earlier this week, the plant produced its five-millionth SUV, which, fittingly, was a Grand Cherokee.
Celebrating the plant's five-millionth unit, the silver 2014 Grand Cherokee was promptly donated to the USO. In addition to this milestone SUV, Chrysler also had a near-perfect 1993-95 ZJ Grand Cherokee on hand for the photo op. Scroll down for the Chrysler press release as well as a video showing some of the speeches from the celebration.

2019 Dodge Challenger R/T Scat Pack Widebody Drivers' Notes | Widebody for everybody

The 2019 and soon to be 2020 Dodge Challenger R/T Scat Pack Widebody is another Challenger dart thrown against the wall by Dodge. It takes the desirable Widebody package we’ve seen on Hellcats and applies it to the naturally aspirated Scat Pack with the 6.4-liter V8. This kit includes stiffer adaptive shocks, stiffer springs, larger stabilizer bars, big Brembo brakes, a 3.09 rear axle ratio, 20-inch forged wheels and massive 305 section-width tires on all four corners. Most important of all, you get the special Widebody fender flares that give the car its signature look. The package is $6,000 on top of a regular Scat Pack. That means the cheapest youÂ’ll step into a Scat Pack Widebody is $46,740. The Widebody that rolled through our offices came in at a much-higher $57,295 after a number of options were tacked on. Many of these, you can skip. The 485 horsepower and 475 pound-feet of torque that comes standard is the most important aspect of this big coupe. Several packages costing more than $1,000 each add convenience and driver assistance tech, and the Harman/Kardon system is a hefty $1,595. With such a loud engine and exhaust, itÂ’s hardly worthwhile. Our tester also had the $1,595 eight-speed automatic transmission. ThisÂ’ll let you scare unsuspecting bystanders with the remote start system, but opting for a manual is an easy way to save some cash and increase driver involvement. With all the modern technology like adaptive cruise control, auto high-beams, heated and cooled seats, and blind-spot detection, the Challenger tries its best to keep up with the times. ItÂ’s no technological marvel, but itÂ’s neat to see some of these options available for folks who might want them. Still, tech gizmos are not what the Widebody is about. This Challenger keeps the same personality as all of those before it, but adds a dash of handling and hostility to its outward appearance. Here are our varied experiences with it during a week of testing. Editor-in-Chief, Greg Migliore: Yes, you can put a rear-facing convertible car seat in a Dodge Challenger. I did. It actually wasnÂ’t that hard. Remember, the Challenger is genetically a Mercedes sedan and shares underpinnings with the Dodge Charger. The biggest hurdles are ingress and egress, which is to be expected in any coupe. The roofline is low, but really not that bad. I simply lifted my toddler and maneuvered him into the backseat.  I was able to get him secured and fastened, and then I just stepped out of the car.