2014 Fiat 500l Lounge on 2040-cars

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Stellantis reports record margins, $7B profits despite chip shortage

MILAN — Automaker Stellantis on Tuesday said it achieved faster-than-expected progress on synergies and record margins in its first six months as a combined company, despite suffering 700,000 units in lower production due to interruptions in the semiconductor supply chain. The company — formed from French carmaker Peugeot PSAÂ’s takeover of the Italian-American company Fiat Chrysler — reported net profit of 5.9 billion euros ($7 billion) in the first half of 2021, compared with a loss 813 million euros during the same period a year earlier, which was impacted by the coronavirus restrictions around the globe. Shipments rose 44% to 3.2 million units, while revenues rose 46% to 75 billion euros. “We are very pleased with the speed with which the new team has begun to execute as one company, as Stellantis,Â’Â’ Chief Financial Officer Richard Palmer told reporters. Semiconductor shortages accounted for 200,000 units of production losses in the first quarter and 500,000 in the second quarter. Semiconductors are used more than ever before in new vehicles with electronic features such as Bluetooth connectivity and driver assist, navigation and hybrid electric systems. Stellantis achieved 1.3 billion euros in cost savings in the first half, mostly by sharing investments in new technologies and platforms, which Palmer said was a faster rate than initially forecast. It aims to achieve 80% of the targeted 5 billion in cost savings by 2024. “These synergies allow us to continue to invest in the electrification strategy, which we talk about every day,” Palmer said. Stellantis, which lags competitors in rolling out electric vehicles, plans to launch 21 fully electric or plug-in gas electric hybrid vehicles over the next two years. North American posted record profitability on global sales of Ram trucks and the strong launch of the Jeep Wrangler 4xe, which was the best-selling plug-in gas electric vehicle in the United States in the second quarter. Stellantis was the market leader in South America and second in Europe. The results were presented on a pro-forma basis, taking into account the performance of each of the carmakers as separate entities during 2020. Related video: 2021 Jeep Wrangler Rubicon 392 Inside and Out

Google-Chrysler autonomous project will include ride-sharing

Google's new Waymo automobile-technology division might have just gotten "way mo" interesting, if you'll excuse the pun. Google, which this spring said it would work with Fiat Chrysler Automobiles on the development of a self-driving Chrysler minivan prototype, is adding a ride-sharing component to the project, Bloomberg News says, citing people familiar with the process. Representatives with both Fiat Chrysler and Google parent Alphabet Inc. declined to comment to Bloomberg. The ride-sharing service, which would compete with fellow San Francisco Bay Area-based companies such as Uber and Lyft, may debut as soon as the end of next year. Uber continues to move forward with its own self-driving efforts, launching self-driving tests (with engineers behind the wheel) in Pittsburgh in September and announcing this week that it would start tests in San Francisco. Those efforts may be delayed, however, as the state of California requires special permitting for testing out self-driving technology, and while the state has granted those permits to automakers such as General Motors, Tesla and Ford, it hasn't for Uber. Google and Chrysler said earlier this year that it would develop about 100 autonomous-driving Pacifica prototypes, but the ride-sharing service would require more of those vehicles to be built. Google's auto-technology operations, now called Waymo, have been headed by former Hyundai executive John Krafcik since September 2015. The division has reportedly brought in more executive-level personnel to speed things along. Meanwhile, Chrysler is slated to unveil an all-electric prototype version of the Pacifica at Las Vegas's annual CES show next month. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Fiat 500e will be Stellantis' EV test run in the U.S.

LOS ANGELES – While we're excited for the Fiat 500e's arrival in the U.S., and we think there's a clear niche for it, we still had loads of questions about what models were coming, if any changes would be made and what else might be coming for the Italian brand. And in a roundtable interview with Fiat Brand CEO Olivier Francois, we learned all that and more. So let's go over the fascinating electric future of Fiat in the U.S. The Future is 500 And when we say that it's 500, we mean only 500e. Francois revealed that, although it's not going away immediately, the 500X crossover will be discontinued when this generation reaches the end of its lifecycle. His reasoning for this move is that only one model really struck a chord with American buyers: the regular 500. He pointed out that it had, at once point, 60% of the ultra-small segment ahead of Mini. And it was successful because it was an iconic car that met a very specific niche for a very specific buyer: something small and stylish that worked well as a commuter and city car. He noted that the 500L, with a focus on practicality, wasn't something that a mainstream buyer was looking for, nor that niche buyer. And it's a similar case for the 500X. So the brand is shifting back to its most popular, core model, and it has no plans in the near term to expand beyond that. Exactly which 500e variants will be offered here is still being decided. There are three versions in Europe right now, the hatchback, soft-top and quirky three-door (with a half-door on the passenger side a la Mazda MX-30). They will be joined by a sporty Abarth version soon. Francois noted that they could start with one version and offer others later, or perhaps the hatch and convertible simultaneously. The three-door seems unlikely, as there isn't much demand for such a small car with a marginally easier-to-access rear seat. The Abarth is something Francois said he would like to offer here (and we would love to accept), but that will likely be determined by how well this new Fiat strategy works. He did say that any of them could be offered, but it depends on the brand's success and strategy. One interesting tidbit that could complicate the convertible is that the most successful states for the 500 were California and Florida, which are both states were convertibles don't do great.