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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.

Hennessey Dodge Demon sets hellishly fast quarter-mile time

The Dodge Demon doesn't strike us as a muscle car much in need of a performance makeover. After all, this 840-horsepower MoPar machine's voracious quest for straight-line speed means it trims weight by jettisoning everything from a front passenger seat and rear seat, to its stereo and all carpeting in the trunk. The folks at Hennessey apparently think that's not nearly extreme enough. So, the Texas-based tuning outfit has turned the Demon into a 1,035-horsepower mega beast that runs a quarter-mile in 9.14 seconds at 152 mph. That's fast, really fast. In fact, the HPE1000 is now the world's fastest Dodge Demon, having set its record-setting pace at Lonestar Motorsports Park on May 8. "The 2018 Demon is a street-legal rocket from Dodge, but we wanted to take the car's impressive track times to an industry leading level." said president and company founder, John Hennessey. For comparison, the stock Dodge Demon is credited with running the quarter-mile in 9.65 seconds at 140 mph. The main HPE1000 modification involves replacing the stock 2.7-liter supercharger with one that's a staggering 4.5-liters in capacity. Also included in the Hennessey toy-chest are stainless steel long tube headers, a high-flow air induction system, upgraded throttle body, upgraded fuel pump and fuel injectors, along with custom engine management calibration. When all is said and done, the HPE1000 Dodge Demon delivers a total of 1,035 horsepower at 6,500 rpm and 948 pound-feet of torque at 4,200 rpm. While the standard Demon accelerates from 0-60 mph in only 2.3 seconds, the Hennessey variant trims this down to only 1.9 seconds. That's quick enough to make a Bugatti Chiron blush. Hennessey hasn't stated what all this will cost, though the company did say production of these devilishly fast Demons will be limited to only 50 examples. Customers also receive a 1-year/12,000-mile warranty, which seems a nice touch for a car that's downright scary with its performance specs. Related Video: Featured Gallery Dodge Demon Hennessey HPE1000 View 30 Photos Aftermarket Dodge Coupe Performance supercharger Hennessey dodge demon quarter mile demon

121k Dodge Darts being investigated over braking problem

The National Highway Traffic Safety Administration is investigating the Dodge Dart due to reports of braking problems. Some 121,000 cars are possibly affected, all from the 2013 model year. According to The Detroit News, NHTSA received 18 complaints about the brake pedal becoming hard to depress on these cars, increasing stopping distance. Drivers reported hearing a "pop noise or an air hissing noise when applying the brake pedal, followed by a hard pedal feel and reduced brake effectiveness," NHTSA told the News. In a particularly terrifying incident, one driver says the Dart's braking system shut down while driving at 50 miles per hour. "I feared for my life. It is one of the scariest things I have ever dealt with," the complaint said, according to The Detroit News. A Fiat-Chrysler spokesperson said the automaker is "fully cooperating" with this investigation.