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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

Ferrari F60 America is a powerful, exclusive US special

Ferrari is observing its 60th anniversary in North America this year, and to celebrate, it's given us this: the F60 America, an incredibly exclusive supercar based on the already outrageous F12 Berlinetta. Want one? Too bad. Production has been limited to just 10 examples, and according to Ferrari, "the wonderfully elegant and unique F60 America has entranced US collectors and all 10 examples are already spoken for."
Entranced, indeed. It's a slick-looking machine, with clear revisions over the F12's already svelte bodywork. The F60 America takes the form of a roadster, with carbon fiber-trimmed flying buttresses that stretch from behind the cabin to the rear of the car. There's no power soft- or hardtop available - instead, Ferrari says the car can be closed off with a light fabric top that's usable at speeds of up to about 75 miles per hour.
The F60 is painted in the classic North American Racing Team livery, with a unique 60th anniversary Prancing Horse on the wheel arches and transmission tunnel inside the cabin. That NART tribute explains the car's seriously limited production run, as well. The 1967 Ferrari 275 GTS4 NART Spider - a car importer Luigi Chinetti specifically requested from Enzo Ferrari for US customers - was also capped at just 10 units.

Spy shooter confessional | Autoblog Podcast #554

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore and Green Editor John Snyder talk to SpiedBilde spy photographer Brian Williams about just how he manages to get the shots of those camouflaged prototypes. Then, our editors discuss driving the Dodge Challenger Hellcat Redeye Widebody. They also chat about a couple of news items, including the official reveal of the Audi E-Tron Quattro, as well as the latest happenings at Ferrari — like the beautiful Monza SP1 and SP2.Autoblog Podcast #554 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Chatting with spy photographer Brian Williams of SpiedBilde Driving the 2019 Dodge Challenger SRT Hellcat Redeye Widebody Audi E-Tron Quattro Ferrari Monza SP1 and SP2, and other Ferrari news Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: