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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

Will the Dodge Demon do a 10-second quarter-mile?

The final teaser for the Dodge Demon is finally here, and it might just give us a clue as to how quick the new car really is. A brief glimpse at a time slip shows what might be a 10-second quarter-mile time. That's a significant step up from the standard Hellcat's 11.7 seconds, but considering all of the Demon's modifications, it's not an unreasonable time. The new video, "Judgment Day," shows the new Demon in its natural habitat, a quarter-mile drag strip. There isn't much new information, aside from the brief glimpse at a time slip. There is a good shot of the car in action and some nice audio from what we assume is a supercharged 6.2-liter Hemi. For comparison, the new 2016 Chevrolet COPO Camaro is capable of a 10.7-second quarter-mile run, while the 2016 Ford Mustang Cobra Jet dips all the way down into the 8s. The full reveal is less than a week away. Look for more information, including the long-awaited horsepower rating, next week during our coverage of the 2017 New York Auto Show. Related Video: New York Auto Show Dodge Coupe Performance dodge demon dodge hellcat

Dodge debuts 2020 Durango SRT Black appearance package

Dodge is going back to the well with yet another round of aesthetic options for the 2020 Durango SUV, focusing yet again on the high-performance SRT model with a new Black package and optional "Redline" stripes.  Like most of FCA's dress-up packages, these are geared toward the sporty crowd. The SRT Black package adds lots of black and dark gray elements, including gray SRT badges on the grille and fenders, gloss black mirror caps, 20-inch matte gray wheels, blacked-out exhaust tips, a satin black "Dodge" logo on the tailgate, and gray "Durango" and "SRT" tailgate badges.  If you want a little color variety, you can swap out the gray alloys for the existing Brass Monkey accessory wheels at no cost. You can also add the Redline stripe package (shown here), which adds matte black full-length stripes with red accent pin-striping on the outer edges.   And while the package may be called the SRT Black, it's actually available in 10 colors: Billet Silver, DB Black, Destroyer Grey, F8 Green, Granite Crystal, Octane Red, Reactor Blue, Redline, White Knuckle and Vice White. Plenty of cars aren't even available in 10 finishes.  The SRT Black package offers a treatment similar to that of the Blacktop package, which is available on lower trims; Black and Redline are both exclusive to the range-topping SRT model.  The Durango SRT Black will run you $1,495; Redline is an extra $1,295. These packages will make their public debuts at the Chicago Auto Show next week alongside some other goodies from FCA. Stay tuned.  Related Video: